|Pennsylvania Real Estate, Jobs, and Industry Make Significant Gains Due to Fracking|
|keywords: Pennsylvania Fracking Pennsylvania Real Estate Pennsylvania Growth|
Over the last few years, Pennsylvania has shown how investing in shale oil can transform local economies, boost land values, and create new jobs much to the dismay of liberals and rich elitists like Matt Damon and George Soros.
Saudi Arabia is not too happy either! The land owners in New York State are wishing they settled in Pennsylvania that is for sure.
On the other hand, New York State, which is right north, has shown poor growth in land values because the state failed and still continues to fail to recognize the economic importance of shale or fracking, and lost out on the opportunity of the decade, generation, or even century.
And these idiots continue to not allow fracking in their state despite not any environmental concern ever coming to fruition.
Oil and Gas Leads Growth in Pennsylvania
With the steadfast backing of the state government, the oil and gas industry came to be known as “The Industry” in PA, putting it ahead of all other business sectors on the government’s priority list.
Energy companies launched new divisions and moved their headquarters to the state, looking at the growing opportunities in shale. Cash-strapped nonprofits began receiving millions in donations from corporations.
Gas royalties turned rural landowners into millionaires. Small boroughs like Towanda came into national limelight and were tagged as boomtowns.
Unlocking the Power of Fracking
Once geologists discovered that Pennsylvania was sitting on some of the cheapest fuel in the world locked deep inside the Appalachian Basin, the state knew it could meet the country’s energy demand for decades.
Just from 4 wells in 2005, the state had proliferated to over 3,000 wells by 2010. More than 10,000 well permits were issued across the state in a short period of 10 years and now with the cooperation from the feds – finally – they are more easily allowed to frack and to build pipelines so they can get their product to market.
Continued Job Growth
The oil and gas boom resulted in new jobs, a large influx of migrants from other states, and a significant increase in the demand and prices of real estate in Pennsylvania.
As per the state Department of Labor and Industry, Marcellus Shale development has been responsible for generating hundreds of thousands of jobs across the state, including thousands in the middle part of the state. And these jobs pay well which is another strike against the liberal agenda.
From drilling to design to the supply chain to environmental engineering, the focus on shale development has created both white collar and blue collar jobs. Many of the blue collar jobs pay handsomely in this sector.
Other Industry Gains
The fracking industry in PA has helped in the revival of antiquated rail yards, which enable the hauling of fracking material to drilling sites. Hotels in the state are either brand new or fully booked. The auto industry has also benefitted.
According to an economic impact study conducted by Penn State University, the oil and natural gas industry will generate an estimated $20 billion annually for the economy in West Pennsylvania by 2020.
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