Ohio wants to expand natural gas development

The Ohio Petroleum Council (OPC), Ohio Oil and Gas Association and Ohio Shale Coalition has gathered hundreds of members to urge state legislators to expand natural gas development in the state.

‘Investments in oil and natural gas are refuelling Ohio’s economy,’ said OPC Legislative Director Robert Eshenbaugh.’ Ohio’s energy revolution took off because lawmakers matched prudent fiscal policies with smart and effective regulations. The legislature should build on recent success by allowing greater development of Ohio’s vast natural gas reserves.’

Eshenbaugh made theses comments as he addressed more than 200 oil and natural gas advocates, workers, employers and representatives at the industry’s Oil and Gas Lobby Day. The event focused on the expanding development of Ohio’s vast natural gas reserves that is revitalising the state’s economically distressed eastern region and creating thousands of good paying jobs across the state.

According to a recent study carried out by IHS, during 2012, 38 000 oil and natural gas related jobs were created in Ohio. Ohio job growth is expected to increase exponentially in the near future, with 143 595 new jobs by 2020 and 266 624 by 2035. The industry in Ohio also paid more than US$ 910 million in state and local taxes in 2011, according to the study.

‘This year we will make sure that Ohioans understand that increasing natural gas production means more jobs and more revenues for state and local government,’ Eshenbaugh said.

Edited from press release by Claira Lloyd.

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