Marcellus News and News and News
AP has a headline: Report: Marcellus reserves worth $2 trillion. The report out today that it is referencing is here: The Economic Impacts of the Marcellus Shale: Implications for New York, Pennsylvania, and West Virginia. This is interesting because it is from a consultant who was one of the authors of the Penn State Reports on this, but he has clearly gone and done this one on his own. Even though at least one news article is already calling this newest report one a "Penn State Report". I've mentioned already that I have read that Penn State economist David Passmore is doing an economic impact study of Marcellus Shale that is due to be completed in thefall. I will read that closely when it comes out and will be interested to see how different it is from any of these reports.
Christian Science Monitor follows up on this with: Could shale deposits bring mid-Atlantic states $2 trillion?
Just for reference. The total Gross Domestic Product (GDP) of the entire state of Pennsylvania, including all its included workers, industries, firms and incidentals, is $533 billion/year per the BEA. So they are saying that the value of Marcellus Shale is worth the equivalent of all the economic activity of everything in the state for 4 straight years. Everything! From everything manufactured in the state to the value generated by services such as the entertainment value of the Pirates. Gives some perspective on the mania if nothing else. I can't quite imagine what would be happening if natural gas prices were as high as they were a couple years ago and not the lows they are at today.
Forbes has: Range Resources Is King Of The Marcellus Shale
and the Charleston Gazette has: Marcellus shale: Jobs for local workers?
The Marcellus Shale folks have fired back at city council: MSC Statement on Pittsburgh City Council’s Misguided Resolution on Shale Gas Development.
The EPA is poking around: EPA takes new look at gas drilling, water issues
I wonder if any journalist jobs are included in those economic impact reports?
and not about Marcellus at all... but just funny.