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| Economy |
| 1,400 Projects, $163B invested in Fracking |
| 2012-07-18 |
| If you believe every study that you read... More than $163 billion is currently invested in more than 1,400 active oil and gas projects in the U.S. upstream and midstream segments, Sugar Land, Texas-based Industrial Info Resources said in a report released July 12. In its report, Industrial Info said about $162 billion is invested in 777 capital projects. More than half of the total amount -- $97 billion -- is invested in 333 active natural gas-related capital projects. That kinda money, spread out like that, makes it hard for any One to take it out. "With the advent of economical shale gas, natural gas liquid extraction, and improved pipeline access to the Gulf Coast, development in the oil and gas industries in the U.S. is ramping up," Industrial Info said. The state of Texas is the leader in NGL-related infrastructure investments and project numbers, while coming in second in total investment value for natural gas projects. While Alaska comes in third with the total number of projects at 30, the value of those oil and gas investments is the greatest in the nation at more than $51 billion. Louisiana, with 25 projects, comes in third in project spending at approximately $12 billion in investments. Three business-friendly states, as well as -- Pennsylvania is second in the nation for the total number of projects, but is fourth in project spending. There are 41 projects under way in the state, representing nearly $3 billion in project spending. |
| Posted by:Bobby |