IHS Says Unconventional Oil & Gas Will Support 3 Million Jobs by End of Decade

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In a press release, IHS said:
The revolution in unconventional oil and gas production is fundamentally changing the United States energy outlook, generating significant job creation, economic growth and government revenues, according to a new IHS study.
The entire upstream unconventional oil and gas sector will support more than 1.7 million jobs in 2012 at average wage levels dramatically higher than the general economy. The number of jobs is expected to increase to 2.5 million over the next three years. The number of jobs supported will continue to rise to nearly 3.5 million in 2035, according to the study.
The new study, America’s New Energy Future: The Unconventional Oil and Gas Revolution and the Economy builds on previous IHS research on the economic impacts of unconventional gas to provide the most complete assessment to date of the economic contributions—in terms of jobs, economic value and government revenue—for both unconventional oil and unconventional gas in the United States.
“The growth of unconventional oil and gas production is creating a new energy reality for the United States,” said Daniel Yergin, IHS vice chairman and author of The Quest. “That growth has not only contributed to U.S. energy security but is a significant source of new jobs and economic activity at a time when the economy is a top priority.
Read the entire press release by clicking here.

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