Some highlights of the economic boom according to a new study by IHS, Inc:
- Midstream and downstream energy companies and energy-related chemical companies will invest about $346 million in the U.S. between 2012 and 2025.
- U.S. industrial production is expected to increase by 3.5 percent by the end of the decade due to shale-related resources, and by 2020 U.S. manufacturing output is expected to increase by $258 million.
- The average American household in 2012 saved more than $1,200 as a result of shale oil and gas resources, which are lowering electricity prices. Also, the amount saved is only expected to go up in the coming years.
- By 2020, more than 3.3 million jobs are expected to be created as a direct result from upstream, midstream, downstream and energy-related chemical activity.
- Oil and gas from shale plays as well as energy-related chemicals are expected to add 2 percent to 3.2 percent to the value of all goods and services produced in the U.S. by 2016.
Oil and gas vendors and suppliers include, but are not limited to water haulers, frac sand haulers, roustabouts, vacuum trucks, environmental cleanup, excavating / dirt work, tank cleaners, pressure washing, component manufacturers, inspection services, flow back testing, gravel pit suppliers, and rig movers.