America’s future is looking bright thanks to unconventional oil and natural gas resources. The truth is that shale energy production may be our country’s greatest job creation industry for the next few decades. In fact, the natural gas industry has already created 100,000 new jobs since the recession first began, and those jobs continue to multiply.
This job boom has happened during a time where non-farm jobs across the country are down by approximately five million. Nevertheless, the growth in shale oil and natural gas has been possible because of the technological advancements in hydraulic fracturing and horizontal drilling – something farm jobs previously lacked. However, the shale boom has been stimulating hiring in these areas and other supporting industries in addition to its own.
The manufacturing industry is in the midst of a reawakening and government is enjoying an influx in revenues. On top of this, unconventional oil and natural gas production has the potential to produce significant growth in capital expenditures as well as employment, including:
- 1.2 million new jobs by 2020
- 3.5 million new jobs by 2035
- More than $5.1 trillion in cumulative capital expenditures by 2035
- Close to $62- billion in additional federal, state, and local tax receipts in 2012
- More than $111 billion in 2020
- A total of more than $2.5- trillion in cumulative revenues between 2012 and 2035
Although Americans support greater domestic energy production, many people have openly expressed concerns regarding the safety and future environmental stability as a result of producing shale energy. A big part of securing our future in energy and protecting our economy is placing top priority on the responsibility of ensuring safe development – which is exactly what the energy industry is doing. Tremendous steps have been taken and continue to advance the United States in natural gas regulations to lead us safely into a future of fewer imports, greater energy security, and therefore, more jobs on U.S. soil.
As the boom continues, more and more states are beginning to reap the benefits of developing energy from shale. After all, it is where the future of our nation is headed. If you are seeking more information on finding a job in the energy industry, or are looking for your next employee, contact FootBridge Energy today!