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A recent study from IHS Economic, commissioned by the National Association of Manufacturers (NAM), puts into perspective how beneficial natural gas development and natural gas pipeline expansion can be for the U.S. economy, domestic manufacturers, and everyday Americans.

The study follows up on a similar report released in January, which highlighted the impact of crude oil pipeline development. Unlike the previous report, however, the current study reveals just how much money families saved thanks to the increase in shale gas production in 2015. As the report notes:

“The U.S. economy experienced significant gains in 2015: IHS estimates that economic benefits from increased domestic shale gas production and the accompanying lower NG [natural gas] prices include contributions of $190 billion to real gross domestic product (GDP), 1.4 million additional jobs, and $156 billion to real disposable income.” (p. 4)

According to the NAM, that $156 billion in disposable income is equivalent to an average of $1,337 put back into the pockets of American families.

Other highlights from the report include:

• Natural gas access added 1.9 million jobs across the U.S. economy in 2015, including 60,000 in manufacturing and 347,000 from new natural gas transmission lines alone.
• Total natural gas demand is expected to increase by 40 percent, thanks in large part to manufacturing and power generation.
• Domestically produced supply is also projected to increase 48 percent by 2025 in order to meet the increase in demand.
• Thanks to technological improvements in energy development, such as fracking and horizontal drilling, the report predicts energy intensive industries (chemicals, refining, metals, etc.) will outperform the U.S. economy through 2025.

According to the U.S...