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    Shale Gas Insight Conference 2012 Day 2: Keynote by Pennsylvania Governor Tom Corbett

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    Governor Corbett provided the opening keynote address to the convention. Here is a summary of some points he touched upon.

    • Shale Gas is creating new jobs for the 21st century.This is a new energy and industrial revolution.
    • 240,000 Pennsylvanians employed by or because of the Shale Gas industry.  30,000 employed directly by the industry.
    • The Marcellus boom is not just about jobs but advancing business and society.
    • Manufacturing is now making a comeback.
    • The extraction tax has provided $200 million to Pennsylvania.
    • Pennsylvania refineries that were closing are now turning around to service the Shale Gas industry.  Last year 3 Philadelphia area refineries were on the verge of shutting down. One is now back on line.  The others will hopefully follow.
    • Deepening the port of Philadelphia not only to transport gas, but also new products made as a result of more readily available natural gas.
    • Shell is finalizing plans to build an ethane cracker plant in Pennsylvania.  This will be a $4 billion investment. It will create 10,000 construction jobs. Downstream jobs will benefit even more Pennsylvanians.
    • Pennsylvania needs to get on-board with the development of facilities that will process wet gas within the state.
    • The gas related industries all create a critical mass of economic growth.  Engineering companies, environmental consultants and new manufacturers are all getting involved which leads to more down stream jobs, such as restaurants and local stores.
    • Looking forward to cars being filled up with natural gas on the turnpike. It is less expensive, more efficient and cleaner than oil.
    • Can't have unbridled regulation but have to guard against cut-and-run practices.
    • We are at the beginning of a new industrial revolution which can be achieved safely and in an environmentally appropriate way.
    • We need to have vision to make this new industrial revolution sustainable. Pennsylvania is getting it right, looking not just to the next election, but to the next generation and beyond.

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