November 2013

Trends and Resources

HP Impact: Unconventional oil and gas to boost US trade position

The economic and employment contributions from US unconventional oil and gas production are now being felt throughout the US economy, increasing household incomes, boosting trade and contributing to a..

Thinnes, Billy, Hydrocarbon Processing Staff

The economic and employment contributions from US unconventional oil and gas production are now being felt throughout the US economy, increasing household incomes, boosting trade and contributing to a new increase in US competitiveness in the world economy, according to a new study by IHS. Unconventional oil and gas activity increased disposable income by an average of $1,200 per US household in 2012, as savings from lower energy costs were passed along to consumers in the form of lower energy bills, along with lower costs for all other goods and services. That figure is expected to grow to just over $2,000 in 2015 and to reach more than $3,500 in 2025, the study finds. The US trade positi

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