ShureLine Construction attended the first midstream conference of its kind in the Northeast on April 19 & 20th where oil and gas industry's giants presented their current and projected agenda for developing unconventional natural gas in the NY/PA/WV/OH/MD corridor. The attendance greatly exceeded the originally expected 400, topping more than 800, with representatives abounding from upstream, midstream and downstream sectors within the expo portion of the event. The energy in the room was infectious, and the Marcellus gaining momentum, as everyone knew the gold rush of our lifetime was upon us and we all had front row seats. The notion of Pennsylvania being largely responsible, as 63% of PA is comprised of the Marcellus Shale, for ending our Nation's addiction to foreign oil well in advance of 2014 where a barrel of oil is expected to top $220, was surreal. Although 32 out of 50 states posses shale lines and produce unconventional gas, the current projected 9.6 trillion cubic feet of gas, according to geologists, within the Marcellus Shale is expected to support current natural gas consumption in the entire United States for at least 100 years. Those numbers may change as more areas within the shale line are developed and innovation within seismology techniques occurs. Clearly, Pennsylvania is strategically positioned at the forefront of this gold rush, the first time since oil was discovered here in 1859, as a result of fortuitous geography. The development of unconventional gas within the United States is going to become a global force to be reckoned with, subsequently turning OPEC on its head and tipping the scales of power in our favor, quite possibly with Pennsylvania region in the driver's seat. PA's economy, through both direct and indirect impacts as a result of midstream activity in previously economically defunct areas, realistically stands to lead the U.S. out of its domestic recession. Specifically, through grand scale job creation and the prospect of becoming a natural gas and oil exporter.
To set this in a larger context and make it more tangible for the lay reader, rather than a "pie in the sky" speculation, since 2004 Allegheny, Chautauqua, and Cattaraugus within New York state have been drilled and pipelines constructed to serve markets within NYC and Northern New Jersey currently. Currently there has been a moratorium placed on drilling within the NYC watershed, concerted efforts by various energy companies to satisfy those residents that benefit from the watershed comfortable that their drinking water will not be contaminated by the hydraulic fracturing process which was another hot topic of discussion although informally throughout the conference as it stands at the forefront of controversy with environmental interest groups. As of 2010, approximately 5100 drilling permits were issued in PA with the intention to develop transmission infrastructure that reaches Chicago. Without reservation, it stands to reason that Pennsylvania will experience a renaissance that will hopefully only gain momentum across the nation.
