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Wednesday, February 29, 2012

Ohio Shale Coalition Issues Dynamite Report on Utica Development

From the Oil and Gas Journal ;

“Since updates in technology have made drilling in the Utica shale possible, people have been euphoric over the economic prospects of shale development in Ohio,” said Linda Woggon, executive director of OSC, which the Ohio Chamber of Commerce formed in June to supply information about the shale oil and gas industry to Ohioans.

The report which you may view or download here was created by Cleveland University, Ohio State University, and Marietta College and it is dynamite. In 2011 $229.6 million was invested by the oil and gas industry, translating into 2,275 jobs. By 2014 the the industry is expected to spend $6.4 billion in Ohio which is expected to result in 65,680 jobs at an average annual income of $50,225. Their model show average labor income to increase as the work shifts from leasing and road construction to drilling and infrastructure maintenance.

Their model estimates that by 2014 over 1,500 jobs for engineers and architects will be established, as well 1,000 environmental compliance technicians. There will be demand for more than 1,800 office workers along with nearly 500 technical consultants. The leasing and contracting work will help turn around a soft market for attorneys, with nearly 841 positions expected to open. The highest paid in this sector are the managers, with average labor income of $109,000, followed by those who provide consulting services at $75,000. A related source of employment will be of “landmen,” a career unique to the oil and gas and mining industries. More than 2,100 people in the real estate industry, with average incomes of nearly $70,000, will be engaged as a result of the Utica development.

Even with a major in Russian Studies, Senator Sharrod Brown should be able to to see the benefits of developing the Utica Shale but his attitude seems to vacillate between neutrality and hostility toward the process that make all of this possible, fracking. This man needs to go!

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