Cheap Shale Gas Means Record U.S. Chemical Industry Expansion

Home work.  lol,  80)

 

http://www.bloomberg.com/news/2011-08-10/cheap-shale-gas-means-reco...

 

Driving this renaissance is the plunge in the price of natural gas, used in crackers as a raw material, to a nine-year low. New drilling methods are opening up vast shale formations from Texas to West Virginia. U.S. chemical investments stemming from shale gas may top $16 billion, creating 17,000 jobs directly and another 400,000 indirectly, according to the American Chemistry Council, a Washington-based industry group.

“The U.S. now has investment-grade economics, and because of shale we are going to lock those economics in,” Dow Chief Executive Officer Andrew Liveris said. “We can grow our Americas base off our U.S. Gulf Coast assets. That is a big change.”

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Permalink Reply by John Matherne on October 28, 2011 at 3:30
Finally back to the good old days of working in the USA.
Permalink Reply by Headly on October 28, 2011 at 3:35

Great news for jobs...continued bad news for mineral owners.  Maybe there is no other alternative.

Shale on! I wonder what this all means for future exploration or further in field expansion.  My guess is it is not positive. 

 

I

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