Thursday, August 9, 2012

Each Job in Oil & Gas Creates Two Jobs Somewhere Else, Says Study

From The Daily Jeffersonian:
With the influx of oil and gas companies arriving in eastern Ohio, most people expect job growth.
What they may not realize is that there are added benefits for every oil and gas job - nearly two to be exact.
If Ohio follows the same trend as Pennsylvania did with the development of the Marcellus Shale, it will find each job created by the oil and gas industry creates nearly two jobs somewhere in the state.
Dr. John Gregor, an economics professor at Washington and Jefferson College in Washington, Pa., said the Penn State study determined the 1:2 ratio for the Marcellus Shale.
He noted the model is based on the economy before shale exploration, pointing out that once development occurs, there are changes in support industries.
"When they first came to Washington County, jobs were farmed outside the area, and now the jobs are inside the county," he said, speculating the outside workers are either becoming Pennsylvania residents or have been replaced by local workers based on the reduction of out-of-state license plates.
Read the rest of the article here.

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