Penn State Professors: Marcellus Shale Could Add $20 Billion in Revenue
1 min readThe economic impact of the Marcellus Shale may top $20 billion and 200,000 new jobs by 2020, according to a new study commissioned and funded by the Marcellus Shale Coalition, an industry group.
Our estimates suggest that in 2020 the Marcellus industry in Pennsylvania could be creating more than $18 billion in value added, generating more than $1.8 billion in state and local tax revenues, and supporting more than 200,000 jobs, the study’s authors, professors in the Department of Energy and Mineral Engineering and the College of Earth and Mineral Sciences at Penn State University, wrote in this year’s update to a similar report put out in 2009.
The study surveyed shale-related companies about their actual spending in 2008 and 2009, which increased from $3.2 million to $4.5 million during that period.
The largest single expense for both years was leasing and bonus payments, with drilling and completion costs moving up the ladder.
