Good article on energy and politics from the Financial Times today [subscription requried]:

The shale revolution is spreading into eastern Ohio, bringing with it the possibility of reviving an economy that has faltered since industrial jobs left the region. But along with that promise, the shale wave is also bringing with it an increasingly intense brand of election-year politics. … Paul Sracic, at Youngstown State University, says the intense focus on shale development has the potential to make energy a big issue in what is the country’s key swing state.  “Blue-collar voters were never that sold on environmental issues, and if some Democrats come across as not keen on economic development, it could lose them support here in Ohio,” he said. … Already, the boom in gas production in n... more »

More evidence that shale energy in Ohio is looming as an economic dynamo.

First, an op-ed from the Coshocton Tribune discusses ways southeast Ohio can prepare for economic growth stemming from shale energy development. Consultant Jim Evans:

“With current interest in the area's Utica shale resources, there once again is hope for jobs and economic prosperity. Estimates of the numbers of jobs that could be generated vary based on who is making the prediction, but even the most conservative estimates offer promise. If oil and gas development comes to fruition, companies who supply the oil and gas industry will obviously have opportunities to prosper. However, good fortune won't only be reserved for direct suppliers. Most area businesses will have an unparalleled opportunity to capital... more »

Editor’s note, 5/3: The event has concluded; see below for the archived videos.

There’s not a better venue for a high-level discussion of energy, jobs and economic growth than Ohio, where energy-driven expectations are soaring – given the growth from shale development in neighboring Pennsylvania and accelerating work in Ohio’s own Utica Shale play. Thus, today’s “Ohio Energy Jobs Summit” is well located.

Hosted by The Hill newspaper and sponsored by the Coalition for American Jobs, the summit has an array of speakers and panelists scheduled including Gov. John Kasich, U.S. Rep. Bill Johnson of Ohio and API President and CEO Jack Gerard.

Ohio voters certainly have strong expectations for shale exploration and development. A Quinnipiac poll in January showed they overwhelmingly belie... more »

During a recent conference call with reporters API Chief Economist John Felmy said the country is at a “crossroads of energy and economic policy.” That’s quite a crossroads. Chad Moutray, chief economist at the National Association of Manufacturers, pointed out that manufacturing has added 462,000 net new jobs since 2010, and that continued growth hinges on energy and regulatory policy. So, where do we stand?

The administration’s energy policy is a muddle, as IPAA President and CEO Barry Russell argues in this Roll Call piece:

“Obama calls to expedite infrastructure projects, but in the wake of rejecting the Keystone XL pipeline. Obama claims increased oil and natural gas production on his watch, but then follows up with accusations that oil companies are profiting at the expense... more »

A follow-up to our follow-up on a Washington Post article that dismissed the effects of increased U.S. oil production on global crude oil markets. The story also took shots at the oil and natural gas industry’s ability to create jobs, as well as industry assertions about the potential effect of a new gasoline standard on refineries.

Let’s start with jobs. A Wood Mackenzie study released last fall said that with the right policies the oil and natural gas industry could create 1.4 million new jobs by 2030. Here’s what the job-creation growth looks like in a chart from that study:

As it has done in previous articles, the Post suggested the projection isn’t valid because it includes direct, indirect and “induced” jobs – “everything from day-care workers to valets to rocket scientists.... more »