Shale Development Invests in Millions of Work Hours

Penneco Drilling Associates shared good news about investment in oil and gas job in Ohio, according to Energy in Depth. Such growth in the number of oil and gas workers and hours of employment promises a good future for the development of the oil and gas industry. It’s better now to invest in oil and gas, invest in the future, said Penneco investors and industry professionals from Energy in Depth.

Penneco Oil Company

Follow on our previous conversation about how the oil and gas industry has created abundant job opportunities and expedite economic recovery after the 2008 recession, we would like to share some good news from Ohio. This week, the Laborer’s International Union of North America (LiUNA) in Ohio has announced that it has logged more than 1 million work hours this year, and will continue to bring more than 3 million hours in 2016. LiUNA is not the only building trade that benefits from the oil and gas industry; other trades, such as the International Union of Operating Engineers and the United Association will soon get millions of work hours thanks to the shale development, according to Energy in Depth.

Additionally, while the job market is still competitive as the U.S. economy has just recovered from the recession, shale development offers middle-class jobs, which mean that potential workers would not necessarily need…

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Infographic from EID: Rethink Renewables & Natural Gas

There have long been arguments in favor of renewables development, such as wind and solar energy, to help reduce greenhouse gas emissions. While renewable energy will replace fossile energy in the future, this infographic offers a new perspective on the harmony between renewables and natural gas, and how they complement each other to address both the energy needs in the country and the alarming global climate change. Several research laboratories, business associations and news agencies have agreed to recognize the importance of natural gas, the cleanest fossil energy, in providing low-carbon energy solutions as the “rapid backup” for those intermittent sources like solar and wind energy. Therefore, future investment in both natural gas and renewables are necessary to address the pressing energy needs in the future in the most effective way.

Renewables-Natural-gas-penneco-investment

Source: Energy in Depth

Tax Benefits for Oil and Gas Investors

Significant tax benefit is one of the deciding factors when potential investors decided where to put their money. A lot of people know that investing in oil and gas can be one of the most tax-advantageous investments, yet only a few are aware that not all forms of investment yield the same level of tax deduction and benefit. In order to help future investors understand their options and associating tax benefits, PENNECO Oil Company has complied a list of investment options, including mutual funds, royalties, partnership and working interests, as well as the amount of tax deduction associating with each. This essential guide is beneficial for those who are considering entering the oil and gas industry and wondering how they can get involve with it in long-term. PENNECO Oil Company commits to using our knowledge and experience in the business of oil and gas exploration to minimize the associated risk for our investors.

If you have any questions regarding oil & gas investment, feel free to contact us!

INFOGRAPHIC from EID: Shale Development Supports American Farmers

Shale development is giving farmers new opportunities and choices. From Arkansas, Ohio, Nebraska, Colorado, Kansas to Pennsylvania, American farmers are benefitting from royalty payments and lower energy prices. Testimonials from farmers across the country have confirmed another positive effect of shale development, which is to keep people in agriculture and give this industry a much needed boost, according to Energy In Depth.

Shale Development Supports American Farmers | Penneco

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Methane Emissions Decline in Oil and Gas Basins

Energy in Depth recently released a report they conducted based on data from the U.S. Environmental Protection Agency’s (EPA) Greenhouse Gas Reporting Program. The report shows that methane emissions from some of the most prolific shales in the United States have fallen considerably.

For instance, in basins that incorporate the Utica and Marcellus shales, methane emissions fell by 55 percent and 10 percent. The San Juan Basin – a zone that activists against racking have guaranteed has climbing emissions – really lessened methane discharges by six percent. In the Anadarko Basin – which incorporates allotments of western Oklahoma, one of the top oil and gas producing states –methane emanations diminished by 34 percent. Emissions has also diminished significantly in Texas, which is driving the United States in oil and gas production:  In the Permian and Gulf Coast Basins, methane outflows diminished by 9 percent and 18 percent.

 

Methane Emissions Infographic from EID

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President Obama Has Buoyant Remarks on Natural Gas Production, Predicts Lofty Production Increases


During a speech at Northwestern University earlier in the month, President Obama surprised many in the anti-fracking crowd with strong support for domestic oil and natural gas production. President Obama spoke on the economic benefits, as well as the energy independence, provided by domestic natural gas exploration.

The President again called out America’s 100 year supply of natural gas, noting that our abundant natural energy resources were a prime factor in drawing jobs back from overseas plants and manufacturing centers. Energy In Depth staff member Ben Seifer notes that low-cost, abundant domestic energy sources “go hand-in-hand with a healthy manufacturing sector, which uses the fuel as a key feedstock.”

Mr. Seifer further noted that abundant, affordable supplies of natural gas have helped kickstart a resurgence in domestic manufacturing, due to energy rates that are 2.6 to 3.8 lower than overseas competitors, according to a report from the Boston Consulting Group.

President Obama had this to say on the matter: “American manufacturing has added more than 700,000 new jobs. It’s growing almost twice as fast as the rest of the economy. And more than half of all manufacturing executives have said they’re actively looking at bringing jobs back from China.”

How productive have America’s domestic hydraulic fracturing programs been in contributing to our national energy reserves?

“Today, the number one oil and gas producer in the world is no longer Russia or Saudi Arabia; it’s America. For the first time in nearly two decades, we now produce more oil than we buy from other countries. We’re doing it so fast that two years ago, I set a goal to cut our oil imports in half by 2020 – and we will meet that goal this year.”

There you have it.