New Report Highlights Economic Potential of Region’s Oil & Gas Industries

The Department of Energy (DoE) released a new report titled, The Appalachian Energy and Petrochemical Renaissance: An Examination of Economic Progress and Opportunities. Drawing on ARC data, research, and investment outcomes, the report examines energy resources found in Appalachia, the opportunities/challenges that are associated with these industries, and the steps that can be taken to increase the positive economic impact from these opportunities in parts of Pennsylvania, West Virginia, Ohio, and Kentucky.

The report cites several ARC reports relevant to the Region’s shale and gas industry including the Status of the Appalachian Development Highway System as of September 30, 2018, the Industrial Make-Up of the Appalachian Region and An Economic Analysis of the Appalachian Coal Industry Ecosystem. The report also highlights ARC investments in the Tristate Energy and Advanced Manufacturing (TEAM) Consortium, a network of nearly 50 community colleges and educational institutions, industry representation, local economic development leaders, and investment partners from across Marcellus-Utica region providing credentialed education and training for jobs in Appalachia’s energy and manufacturing sectors as an example of successful workforce development initiatives that could be brought to scale.

“Appalachian energy resources are among the most plentiful in the world, and the region stands poised to continue its growth as an energy producer and an important contributor to the world petrochemical market,” said ARC Federal Co-Chairman Tim Thomas. “The critical policy priorities and strategic investments outlined in this report will be important to the continued energy independence of our nation and the economic development of the Appalachian Region.”

Read the full details here.