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Wednesday, Sep 4
IHS: U.S. drilling boom adds $1,200/year to U.S. household income
- A study by consultant IHS said the effects of the U.S. energy boom will trickle down to family incomes, boost trade and contribute to increased U.S. competitiveness.
- IHS projects that during 2012-25, companies will invest $346B in pipelines, processing facilities and other infrastructure to transform natural gas and natural gas liquids into olefins, methanol, ammonia and a host of other energy-related chemicals.
- The effects already are being felt in U.S. households, IHS says: Disposable income effectively increased by an average of $1,200 per U.S. household in 2012 due to lower energy costs and jobs generated by the oil and gas energy; savings could climb to $3,500/year by 2025.