From the IHS Forum Event, September 17-19, 2013 in Houston, TX. John Larson, Vice President, Economics at IHS, shares his perspective on the Unconventional Revolution: Quantifying the Contributions of Unconventional Oil and Natural Gas Development on US Manufacturing.
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A Manufacturing Renaissance: Americas New Energy Future
1. A Manufacturing Renaissance
September 19, 2013 4:00pm – 5:30pm John Larson, Vice President, Economics, IHS
The Unconventional Revolution: Quantifying the Contributions of Unconventional Oil
and Natural Gas Development on US Manufacturing
Across America’s widening energy landscape, the economic contributions of unconventional oil and
natural gas are revolutionizing America’s energy future and bringing enormous benefits to its
economy. These effects are visible within the full set of value chains – upstream, midstream,
downstream, and energy-related chemicals – and are extending into the broader reaches of the US
economy. US manufacturing is realizing new production cost advantages in the form of lower prices
for raw materials and energy, leading to a shift in global competitiveness for the US and the
expansion of manufacturing activity.
Key Takeaways
In 2025, nearly 515,000 manufacturing jobs will be
supported by the broader macroeconomic contributions
that begin with unconventional oil and natural gas.
The impact on US net trade is expected to increase
steadily, plateauing at roughly $180 billion per year in 2022.
IHS analysis demonstrates that this manufacturing
renaissance will increase overall industrial production by
3.5% by the end of the decade and by 3.9% by 2025.
Subsectors such as Basic Organic Chemicals; Resins and
Synthetic Material; Agricultural Chemical; and Iron and
Steel Product are among the top-ranked
manufacturing sectors benefiting from this revolution
By 2015, 3.2% of all US manufacturing jobs will be linked
to unconventional development. By 2025, this share will
jump to 4.2%.
We have considered the environment in our production of materials for this event.
2. The session will focus on the final results of America’s New Energy Future research series assessing the evolving
economic contributions of unconventional oil and natural gas development activity. The report’s three volumes quantify
how unconventional activity creates economic value in the broader economy.
The three volumes within this research series are as follows:
1) The national economic contributions of unconventional upstream oil and natural gas activity in the lower 48 US
states– Volume 1
2) The state-level economic contributions of unconventional upstream oil and natural gas activity in the US lower 48
states – Volume 2
3) The economic contributions and prospects for a domestic manufacturing renaissance resulting from
unconventional upstream oil and natural gas activity in the US lower 48 states – Volume 3
Notes:
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