Development of new energy infrastructure will contribute upwards of $861 billion to the U.S. and Canadian economies and create an estimated 323,000 to 425,000 jobs per year through 2035 according to a new report released by the INGAA Foundation. The study, North American Midstream Infrastructure through 2035: Leaning into the Headwinds, aims to capture and quantify the dynamic market changes that have occurred within the energy industry in recent years. Specifically, the analysis examines the relationship between falling energy prices and the sustained need for reliable infrastructure.
“We saw a need to reexamine infrastructure needs in light of significantly lower commodity prices,” said Don Santa, president of the INGAA Foundation. “While E&P activity may dip temporarily because of lower prices, we still will need significant capital investment, particularly in natural gas midstream infrastructure.”
According to the study, Ohio, Pennsylvania, and West Virginia are expected to be among the top beneficiaries of continued energy infrastructure development. Increasing investment in the Marcellus and Utica shale formations will continue to drive regional job creation. In Ohio, total employment within the industry is predicted to grow by 13,050 to 15,888 new positions annually. Furthermore, the study places Ohio, Pennsylvania, and West Virginia in the upper echelon in terms of overall benefits from infrastructure development.
The shale gas revolution has been a game changer for American energy production. Manufactures, small businesses, farmers, and households across our region are benefiting from the increasing availability of affordable, clean burning natural gas. In fact, just this week it was announced that construction will soon begin on a new natural gas-fired power plant in Lordstown, Ohio—a project that when completed will become a reliable source of power for more than 600,000 households.
Projects like the proposed Rover pipeline will be essential to delivering domestic natural gas to utilities across our region. Responsibly undertaking these critical investments now will propel America into a new era of increased energy efficiency and affordability.