(erielack) Gas not coal, a "Re-birth" of the DL&W today?

[Todd Hollritt <thollritt_@_yahoo.com>]

Marcellus Shale... the NEW black diamond????
 
   At its peak, the Pennsylvania Railroad controlled more than 10,000 miles of rail line, employed more than 250,000 Americans, and had an annual budget that exceeded that of the federal government. And despite all that, it might not have even been the best railroad in the state.
   For folks in Northeast Pennsylvania, that honor went to the Delaware, Lackawanna and Western Railroad, which originally connected Scranton to points north and east, and was known as "the most developed railroad in America." Today, that rail yard is the site of Steamtown National Historic Site, and home to one of the best railroad museums in the world.
  Though it may have a first-rate museum to chronicle its extraordinary past, it's the future of Pennsylvania's railroads that has folks across the region excited today - using words like "rebirth" and "renaissance" to describe the return of one of the great American industries of the last century. To what do we owe the emergence of this new vocabulary? It's called the Marcellus Shale - and done right, it could be one of the greatest economic opportunities this area has ever seen.
   Thanks to the safe and steady development of natural gas from Pennsylvania's portion of the Marcellus, the rail industry is experiencing growth in the area for the first time in decades. Did you see the news last month about the $500,000 upgrade to the rail yard in Carbondale? It's a site that had previously laid dormant for 25 years. How about the announcement of four new 3,000-horsepower locomotives added to the tracks in Williamsport? It's all related to natural gas.
   And if the geologists are right, we may be sitting atop one of the largest natural gas fields anywhere - holding as much as 516 trillion cubic feet of natural gas. If accurate, that would make the Marcellus the second-largest natural gas field in the entire world behind one in Iran.
   But here's the best thing about natural gas: The more of it you have, the more affordable it becomes. In May, UGI Penn Natural Gas told its customers to expect a double-digit decrease in natural gas rates this fall, with a spokesman attributing the price reduction in part to new natural gas supplies from the Marcellus Shale. "Shale gas will fundamentally change the market," the spokesman said. "Some say we are entering an era of price stability."
   Of course, all of this means more and better jobs for a state that can certainly use an economic boost. According to a report from Penn State, the responsible development of the Marcellus Shale could yield more than 211,000 new jobs by 2020 - jobs that will be filled not only by those who drill the wells, but by those who drive the trucks and manufacture the pipe, and also by accountants, scientists, chefs and engineers. It's part of phenomenon that folks have started to call the "Marcellus Multiplier" - for every $1 that Marcellus producers spend in the state, $1.90 of total economic output is generated. With nearly 600,000 Pennsylvanians currently out of work, has there ever been a time when this investment was needed more?
    Ultimately, the extent to which these opportunities will be realized will depend on whether we can put in place a tax, legislative and regulatory framework that keeps Pennsylvania ahead of the curve in attracting the investment needed to economically develop the Marcellus. It will also require a renewed effort by industry to do a better job of communicating the tremendous benefits of this work - while responding in an honest and straightforward way to any concerns folks may have on the continued protection of their air, water and surrounding environment.
   It's a conversation I'm really looking forward to being part of - as a lifelong Pennsylvanian and as a mother of two children whom I hope will have the same opportunity as I did to find a job, raise a family and be part of a great community without having to leave the commonwealth to do it. For that to happen, we'll need an economy that's strong and getting stronger. With the help of the Marcellus Shale, we're back "on track" to get there.
 
Todd ~




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