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Shale Gas Activity Increases Household Incomes

Last week, global research firm IHS released a report regarding the economic impact of U.S. unconventional oil and gas production, Bloomberg reported.   According to the IHS report entitled America’s New Energy Future: The Unconventional Oil and Gas Revolution and the Economy – Volume 3: A Manufacturing Renaissance, in 2012, unconventional oil and gas activity increased disposable income by an average of $1,200 per U.S. household.   This study examined the full energy value chain (upstream, midstream and downstream energy and energy-related chemicals) and the overall contributions on the manufacturing sector and U.S. economy.  Based on this examination, U.S. oil and natural gas production has supported 2.1 million jobs and has added nearly $75 billion in federal and state revenues.