WASHINGTON, April 11, 2012 /PR Newswire/ -- The American Chemistry Council (ACC) will testify at today's Congressional field hearing in Fairmont, West Virginia, to discuss the role that shale gas plays in the renewed growth of American manufacturing, and the future transportation needs to support the continued expansion of natural gas production.
Owen Kean, Senior Director for Energy Policy at ACC, will join state officials and West Virginia business leaders at the field hearing hosted by Sen. Jay Rockefeller, chair of the US Senate Committee on Commerce, Science and Transportation.
'The shale gas found in the western Pennsylvania and West Virginia portions of the Marcellus shale contain some of the most ethane-rich shale gas deposits found anywhere in the country,' Kean said. 'Regulations and policies around natural gas production and infrastructure development will ultimately determine whether shale gas becomes the 'game changer' everyone hopes for, generating economic growth and new jobs and revitalizing U.S. manufacturing.'
Abundant, affordable supplies of shale gas are helping to lower feedstock costs for the chemical industry and create thousands of manufacturing jobs across the nation, making the U.S. more competitive and energy secure.
ACC projects that a 25 percent boost in ethane supplies could generate 400,000 U.S. jobs, $132 billion in U.S. economic output and $4.4 billion in local, state and federal tax revenue every year.
Kean stressed the importance of building adequate infrastructure to separate ethane and other liquids from the gas supply, ship it to markets, and develop adequate capacity to store it before use. He noted that businesses are moving quickly to bring ethane infrastructure to the Marcellus region that will likely see ethane moving to market by the end of next year.
Kean also cited the state's current infrastructure as conducive to attracting new investment and economic development. West Virginia has an abundant supply of fuel and feedstock, maintains excellent road, rail and river transportation networks, and is within 500 miles of the primary US markets for petrochemicals and plastics. The state's rail networks also make it an attractive platform from which to ship plastic pellets and sheet to Atlantic ports for shipment across the world.
The American Chemistry Council (ACC) represents the leading companies engaged in the business of chemistry. ACC members apply the science of chemistry to make innovative products and services that make people's lives better, healthier and safer. ACC is committed to improved environmental, health and safety performance through Responsible Care®, common sense advocacy designed to address major public policy issues, and health and environmental research and product testing. The business of chemistry is a $720 billion enterprise and a key element of the nation's economy. It is one of the nation's largest exporters, accounting for ten cents out of every dollar in U.S. exports. Chemistry companies are among the largest investors in research and development. Safety and security have always been primary concerns of ACC members, and they have intensified their efforts, working closely with government agencies to improve security and to defend against any threat to the nation's critical infrastructure.
SOURCE American Chemistry Council