And right here in Pennsylvania, and across the state line in West Virginia and Ohio, we will tap the full potential of the Marcellus Shale and create another 250, 000 jobs by getting the EPA out of the way. While Marcellus shale is today’s opportunity, the deeper Utica shale formations offer equally vast potential with more jobs over the horizon for Pennsylvania and its neighbors.The benefits of the boom in American natural gas production are also demonstrated in manufacturing and production. We see that right here at U.S. Steel’s Mon Valley Works Plant that employs more than three thousand workers, many of whom make the steel products other companies use to develop the Marcellus Shale today.The face of manufacturing in industrial states has changed rapidly. Natural gas exploration is a game-changer that can bring new opportunities to replace the ones that have been lost. Development of natural gas will create jobs in the supply chain and lead to lower energy costs for manufacturers.Western Pennsylvania is known for producing great quarterbacks I want Western Pennsylvania to Quarterback a new energy revolution that creates jobs all across America.
There is a lot of silliness in this passage. The biggest laugh at loud moment concerns the increase in shale gas production. Big government is standing in the way? Via Energy Burrito, the odd economics of shale gas extraction:
Wall Street experts say well economics motivate producers to keep drilling for gas even when prices have sifted into the mid-$3s/Mcf. Even at lower prices, analysts say operators still receive good rates of return from gas drilling in the Haynesville and Barnett, as well as other gas fields such as the Fayetteville Shale in Northwest Arkansas and the Marcellus Shale in Appalachia. The Marcellus especially is close to desirable Northeast US markets where premiums to the Gulf Coast Henry Hub price can be $0.50/Mcf or more, experts said.But the lag in well completions isn't the full story on why output from gas plays continues to rise. Upstream companies that increasingly become expert at finding a play's "sweet spot" are another reason for increasing production, particularly in the Barnett Shale where activity persists a decade after the play became an industry hot spot, John Bookout, managing director of energy for big equity capital investor Kohlberg Kravis Roberts, said.
If there is a problem in the Marcellus it is too much production. We don't have to go into why the EPA doesn't matter. Parry does not appear to understand the domestic energy economy.
Next up are the mesofacts. The Steel City lives! We can thank game-changing shale gas for that. Where would Pittsburgh be without hydrofracking? The region would remain mired in the depression that started in the 1970s when all the jobs were exported to
China, Mexico, Japan. Damn that NAFTA. Now damn the EPA for keeping the Rust Belt rusty.
Parry's speech is a time warp. I kept imagining the B-reel footage still associated with the Pittsburgh Steelers and blue collar football while reading the text. From the Cradle of Quarterbacks will come an energy revolution and a manufacturing renaissance. Steel is coming home.