Can the Energy Boom Heal US Manufacturing Woes?
Employment in manufacturing related to the development of energy is estimated to increase by more than one percent United States, every year, through 2020. It is determined that over seventy percent of these energy intensive manufacturing jobs will be employed in metropolitan areas. This information is according to a recently released report. Why will so many jobs be found in metropolitan areas? Evidence has been found that directly links the majority of the economic impact of the most recent American oil and natural gas boom said to metropolitan areas, as manufacturing employment has expanded by nearly two percent every year, on average, over the last three years. Some of the energy related industries experiencing the highest amount of domestic manufacturing job growth included machinery and fabricated metals, both of which proved quite crucial to the improvement on overall job growth in the United States.
The recent increase in development and expansion of natural gas found in the United States has helped the domestic energy boom more than any other factor. Manufacturing industries that hugely benefitted from the domestic boom in natural gas include iron, steel, fabricated metals, and machinery. In United States metropolitan areas, where the previously mentioned types of industries prosper, such a Pittsburgh, Philadelphia, Cleveland, New York, Dallas, Houston, Minneapolis, and Los Angeles, employment in those industries increased upwards of ten percent between 2010 and 2012.
Even though many agree that the most recent American energy boom has played a vital role in healing United States Manufacturing woes, several environmental activist groups have come forth that are not happy with the way natural gas is being extracted domestically. Environmental activists and some American communities have positioned themselves in stark criticism concerning the removal process of natural gas from shale found deep in the ground. The removal process commonly used, which is called fracking, has its naysayers because some evidence suggests that fracking pollutes groundwater, which consequently leads to many other serious problems, such as health concerns for those who are drinking and / or bathing in water that has been contaminated with harmful particles and chemicals.
The contentious and derisive topic concerning the benefits and dangers of fracking has led to a national divide, but what cannot be argued is that the continued increase in development of natural gas in the United States is one of the major reasons why the energy boom has relieved and healed American manufacturing woes. Though the outlook for United States manufacturing looks great for the foreseeable future, expect more conflagration regarding the impact natural gas has had on domestic energy due to the way in which it is extracted.