October 14, 2014
There has been a lot of discussion about the development of oil and natural gas resources from the Marcellus shale. But precious little of that discussion has focused on the economic benefits associated with Marcellus oil and natural gas reserves.
What, exactly, are the economic benefits associated with Marcellus shale development? Are there economic benefits being accrued that affect businesses and industries beyond the oil and gas industry?
The Oil and Natural Gas Industry Labor-Management Committee set out to uncover some of those answers by commissioning a study through the Institute for Construction Economics Research (ICERES). The foremost conclusion is that Marcellus shale development in Pennsylvania, Maryland, West Virginia, and Ohio “has been a strong engine of job growth” in the local construction industries in those states.