The panel agreed that shale gas is here to stay. The amount of investment made by a wide variety of companies is evidence of the commitment to this industry. America's proven reserves have grown dramatically as a result of technological improvements. As many as 1 million new jobs have been created by shale gas exploration and use.
Not only are new jobs being created and new cheaper energy being developed, it is also creating billions of dollars in new governmental revenues. The industry is playing a critical role in leading the expansion of the economy, and it is doing so while helping lower the emission of green house gases.
The amount of gas being developed will improve national security by having less dependence on foreign energy sources, and may serve to reduce Russia's influence on energy supplies in Europe. The lower cost of energy here in the US will also lead to a manufacturing renaissance.
While Marcellus represents a huge area of investment, liquified natural gas is being shipped out of Louisiana to international markets. More ports are likely to be built for this purpose. Gas production will greatly expand over the next 4 to 5 years, further boosting the economy and providing a broad base of new jobs. Shale gas is putting the US on a path toward energy independence