Archive: Business & Technology

Congressman Tom Reed brought together two fields experiencing a renaissance of growth – natural gas and manufacturing – Thursday to examine what is making these fields successful and how to extend and expand upon that growth. Reed hosted the Congressional Natural Gas Caucus and the House Manufacturing Caucus for a joint discussion with caucus members and expert panelists in the field. Congressman Reed co-chairs both bipartisan caucuses.

“The jobs impact is what is truly remarkable,” Congressman Reed said. “The lower energy and lower transportation costs are creating more manufacturing jobs. On top of manufacturing jobs being added, consumers are seeing less money being taken out of their pockets each month both in their utility bills and at the gas station. We’re now even seeing the average price of a gallon of regular gas inch close to the $3 per gallon mark, with six states now boasting prices below $3 and more states within a nickel of that mark. Natural gas is a large part of that equation bringing down gas prices.”

Panelists at the meeting included Jennifer Diggins, Director of Public Affairs at Nucor Corporation, John Larson, Vice President of Economics at IHS, Geoff Moody, Director of Government Affairs at American Fuel and Petroleum Manufacturers, and Toby Mack, President and CEO of Energy Equipment and Infrastructure Alliance.

John Larson testified that energy-related jobs “could rise to 3.3 million by 2020” and went on to say that “in New York, a state that currently bans unconventional activity, 44,000 jobs and $1 billion in state and local taxes can be attributed to activities supporting the supply-chain associated with shale gas and tight oil…in 2012.”

“Formerly shuttered steel plants are being reopened and new manufacturing facilities are budding up around the country, allowing more jobs and career opportunities for Americans to ‘make it here and sell it there,’” Reed continued. “In addition to the jobs and savings families are seeing thanks to natural gas and revitalized manufacturers, we’re working toward energy security,” Congressman Reed continued. “Domestic natural gas will greatly reduce our dependence on foreign oil – and the politics of oil from the Middle East – as we pursue alternative and renewable energy.”

The Congressional Natural Gas Caucus is co-chaired by Reps. Tom Reed (NY), Gene Green (D-TX), Glenn Thompson (R-PA) and Jim Costa (D-CA). The House Manufacturing Caucus is co-chaired by Reps. Tom Reed and Tim Ryan (D-OH).

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