by James Panero
August 26, 2013
The Shale Revolution has brought enormous economic benefits to American producers and consumers. According to a 2012 study by the consulting and forecasting firm IHS Global Insight, shale oil and gas combined generated $87 billion in domestic capital investments in 2012. The advantages aren’t confined to the gas industry and its direct beneficiaries; savings on energy ripple through the broader American economy. The U.S. Energy Information Administration reports that the shale-gas boom has pushed down the price of natural gas in America to one-third of its 2008 level. The lower costs of shale gas, PricewaterhouseCoopers reports, will yield 1 million domestic manufacturing jobs by 2025 and add 0.5 percent growth to the nation’s gross domestic product.