IHS: Study measures economic benefits of unconventional oil, gas production

01/07/2013
Greg Clock OGJ Correspondent A new state-by-state study estimates total unconventional oil and gas production in the Lower 48 will contribute $63 billion in federal, state, and local tax revenues in 2012, with contributions rising to nearly $113 billion by 2020, said IHS. Nearly $238 billion will be contributed to US gross domestic product in 2012, with an expected increase to more than $416 billion by 2020, said the study, which measures jobs, economic value, and government revenue. The study on state economic contributions was a follow to an IHS national-level study that said unconventional oil and gas production will support nearly 3 million by the decade's end. The top 10 nonproducing...
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