This industry is the backbone of the U.S. economy

[dan_s]

Oil & Gas Industry will have a lot to do with "Making American Great" again.

How The Shale Boom Is Boosting U.S. Exports. The Oil Price.
Four ethylene crackers are coming online this year on the U.S. Gulf Coast, and another five under construction will begin operations by the end of 2019. The total annual capacity of these projects is 10.9 million metric tons per year, which should fuel ethylene exports. Even with all the new ethylene capacity, the shale gas boom created so much excess ethane in the U.S. that ethane futures through December 2021 are under $0.35/gallon. The $768 billion U.S. chemical industry is the second largest in the world, with 15 percent of the global market. The industry provided 811,000 U.S. jobs and accounted for $174 billion of U.S. exports in 2016 — 14 percent of all U.S. exports. According to the American Chemistry Council (ACC), as of July 2017, there are 310 completed, started or potential chemical industry projects chemical industry projects due to shale gas. The ACC estimates that these projects represent $185 billion in new capital investment and will create 464,000 direct & indirect jobs by 2025, $310 billion in new economic output, and will bring in $26 billion in new tax revenue by 2025.


Why US Shale Gas Will Drive an Economic Boom. Money Morning.
Every US president since Richard Nixon has pledged allegiance to the goal of energy independence. A frenzy of drilling in shale gas fields across the country over the past decade has put the US within arm’s reach of finally achieving that goal. The US has transitioned itself to low cost gas for power generation. Gas prices are at record lows, and electricity prices are falling. Cheap energy is really driving lower costs for all businesses in the US, in contrast to Australia and our ballooning energy costs. The US economy is booming right now. Factory and service sector activities are hitting 13 and 12 year highs respectively. There are a record number of 6.2 million job openings in the US. Probably one of the best indicators that the US economy is picking up is that orders for 18-wheelers are strong. That means new semis are needed to maintain delivery rates. Unemployment is at 16 year lows, and US property prices continue to rise.

[dan_s]

How Shale Gas Extraction Is Fueling a Manufacturing Renaissance.
The growth of shale gas extraction across the United States is offering a big boost to the plastics manufacturing sector. Ethane, a by product from shale gas, is used as a building block for many plastics products, and the growing supply is making the U.S. an attractive source for plastic resin sourcing. The Plastic Industry Association’s 2016 Size & Impact Report said the availability of large amounts of natural gas is quickly turning the U.S. plastics industry from one of the highest to lowest-cost producers in the world. Bill Carteaux, president and CEO of the Plastics Association, said the plastics industry will be an important part of the effort to support job growth in manufacturing going forward. He said plastics are now the third-largest manufacturing sector behind oil and gas extraction and automobiles. “Things have been on the increase the last few years….There’s lots of reasons for optimism in manufacturing right now,” he said.