Linda Woggon, Executive Vice President, Ohio Chamber of Commerce, & Executive Director, Ohio Shale Coalition:

"Ohio’s economy is rebounding.  And, much of our recent and future growth can be tied to a dramatically changing energy reality.

Earlier this year, the Ohio Shale Coalition, an initiative launched by the Ohio Chamber of Commerce in 2011, released a study that conservatively projects a $10 billion impact on our economy by 2014 from growth in the oil and gas industry.  This is exciting news for Ohio.  We are clearly on the cutting edge of the shale revolution.

But, we are not alone.  One of the largest energy transformations in recent history is taking place across the United States.  Like Ohio, other states from Louisiana and Texas, to Pennsylvania, West Virginia, Colorado and North Dakota, are experiencing huge increases in the production of shale energy.

In order to better understand the scope and potential of this shale revolution, the US Chamber’s 21^st Century Energy Institute partnered with several other national groups and IHS-CERA, a leading global energy consulting firm, to quantify the economic and energy security impacts of shale energy.  This groundbreaking report was released this week and is an important complement to the Ohio Shale Coalition’s study.  It represents the first stab at examining the shale revolution on a national scope.  And the results are stunning.

America’s New Energy Future: The Unconventional Oil & Gas Revolution and the U.S. Economy, says shale energy development has already created 1.75 million jobs across the U.S. over the last few years.  It is expected to account for 2.5 million jobs in 2015, 3 million in 2020, and 3.5 million jobs in 2035.  And, these are good paying jobs.  Shale energy workers are making 50% more than the national average."

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