A new report outlines that the huge economic benefits from America's natural gas boom should last several decades, and Louisiana, already benefiting, could see tens of millions of dollars and thousands of new jobs by 2025.
It's being called America's New Energy Future, shifting global competitiveness to the United States for manufacturing.
Natural gas liquids are a byproduct used in chemical production. Robust supplies of them, especially ethane will keep prices low, and drive more manufacturing back to the U.S. according to this new report from IHS, a global information company.
"It's a great opportunity for Louisiana, and for the country as a whole," says Martha Moore, senior director for policy and economics at the American Chemistry Council. "Louisiana is already the second largest chemistry producing state with over $68 billion in output and we do anticipate that will grow substantially as these investments come on line."
The IHS report says there will be $100 billion in new investments producing over 300,000 new jobs nationally in the next twelve years.
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