07.23.10 Marcellus Shale Could Create 100,000 Jobs and $1 Billion in Taxes

From The Pittsburgh Tribune Review:

An industry-backed study shows that drilling for Marcellus shale natural gas in Pennsylvania and West Virginia could generate $1 billion a year in taxes and indirectly support 100,000 jobs during the next decade as investments filter through the local economy.

The American Petroleum Institute, which paid for the study, said Wednesday that the findings underscore the industry’s enthusiasm for the gas pocket that runs a mile beneath Appalachia. State lawmakers, they said, could slow that potential growth by imposing a severance tax on the gas, as proposed for Oct. 1.

The study by Timothy Considine of Wyoming’s Natural Resource Economics Inc. says the industry next year could support 72,160 jobs and generate state and local taxes worth $652 million. With modest growth during the decade, it could employ 101,975 people and produce $945 million in tax collections.

Learn more about these projected opportunities.