SOURCE: Industrial Info Resources

Industrial Info Resources

September 11, 2013 06:10 ET

McKinsey: Oil & Gas Production From Shale a 'Game Changer' for U.S. Economy, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwired - Sep 11, 2013) - Written by John Egan for Industrial Info Resources (Sugar Land, Texas) -- Oil & Gas Production from shale formations is one of five economic "game changers" that a recent study from McKinsey & Company (New York, New York) said could spur U.S. productivity; boost GDP by hundreds of billions of dollars; and generate significant numbers of jobs by 2020. Capturing the full potential of oil & gas development in shale formations could add between $380 billion and $690 billion in incremental gross domestic product (GDP) to the U.S. economy, while adding up to 1.7 million permanent jobs by 2020. Of the five game changer scenarios analyzed by the management-consulting firm, the oil & gas sector had the largest potential impact on the U.S. economy.

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