Shale gas beneficial to various fields of manufacturing
In the U.S., natural gas prices have significantly dropped in the past few years as a result of improved methods of drilling and extraction. This development, which has already proved beneficial to a number of industries, may end up being a significant boost to the manufacturing sector, according to the Financial Times.
The news source reports that companies in manufacturing fields using a great deal of natural shale gas can only be supported by these lower prices, such as energy-based product businesses and chemical companies. Businesses producing machinery used in shale extraction are likely to benefit on an even greater level due to this development.
Shale mining is subject to a certain level of regulation by the U.S. Environmental Protection Agency and other governing agencies. Certain states either forbid the practice or have a number of strictly enforced restrictions and stipulations in place.
According to Pennsylvania State University, the Marcellus black shale formation, which runs from southern New York and continues through Pennsylvania, Ohio and West Virginia, is considered to be one of the major U.S. sources of natural gas.