Kleinhenz & Associates for the Ohio Oil and Gas Energy Education Program
[From an article in the Vindicator, Youngstown Ohio] Ohio’s oil and natural-gas industries and the emergence of horizontal hydraulic fracturing could create more than 200,000 jobs and pump billions into the state economy over the next five years, according to a new study released at the Statehouse…
The economic-impact study, released Tuesday, was prepared by a Cleveland-based consulting firm on behalf of the Ohio Oil and Gas Energy Education Program.
projecting that more than 204,000 jobs will be created as a result of the exploration of Ohio’s Utica shale reserve by 2015. Additionally, the industry will add $22 billion into the economy and $12 billion in related employee wages.
“We’re thinking, four years out, if we follow the model of Pennsylvania, it’ll be $14 billion a year in drilling and [well] completion expenses alone,” said Jerry James, president of Artex Oil Co. in Marietta.
“Fourteen billion dollars a year could generate a lot of jobs, [with] a total of $35 billion estimated in a five-year period…”