USA Today (03/28/12) Paul Davidson
The fast-growing supply of inexpensive natural gas in the U.S. is setting off a manufacturing revival that is expected to create hundreds of thousands of jobs as companies build or expand plants to take advantage of the low prices. Nearly 30 new chemical plants have been proposed in the U.S. for the next five years, according to the American Chemistry Council. The projects would employ 200,000 workers at the factories and related suppliers, says council president Cal Dooley.
PricewaterhouseCoopers partner Robert McCutcheon estimates inexpensive natural gas could help U.S. manufacturers save $11.6 billion a year and create more than 500,000 jobs by 2025. Affected industries include chemical, steel, and agriculture.
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