Shale Gas Powers US Chemical Industry Growth
Shale gas is natural gas that is found within shale formations. It has become an increasingly important source of natural gas in the United States. Its easy availability and lower cost has resulted in 333 chemical industry projects valued at $202.4 billion. 53% of the investment is completed/under construction, and 41% is in the planning phase.68% of the total is direct foreign investment or includes a foreign partner, the American Chemistry Council (ACC) reported. Project types include new facilities and capacity expansions, Kallanish Energy learns.
ACC analysis shows $202.4 billion in capital spending could lead to $292 billion annually in new chemical and plastics industry output and support 786,000 jobs across the economy by 2025 in the US.