A natural gas boom that has fueled an energy boom in New Jersey and New York could cost the industry more than $3.5 billion, according to a new study.
The study, released Tuesday by the New York State Energy Research and Development Corporation, found that the boom in natural gas exports in the United States from Pennsylvania and New Jersey has been a boon to the state’s economy, which is already in the red.
But the report also found that natural gas could be a boon for the states struggling with a shortage of natural gas.
“It is the largest natural gas export boom in the U.S. and could be the biggest natural gas production boom in U.s. history,” the study’s authors wrote.
“This boom is set to fuel more than 200,000 construction jobs in the state of New Jersey, and could also lead to millions of dollars in new job creation.”
The boom is so large that it has prompted some states to ban drilling for natural gas in some areas, and a new federal rule could ban drilling in New York and New Hampshire as early as 2018.
That rule, the first in the country, has been hailed by some natural gas producers as a positive development.
The New York Times, however, argued that the rule was a threat to the economy.
“By barring natural gas extraction in the Marcellus Shale region, the new rule will reduce the amount of natural-gas in the market,” the paper said.
The industry is still working through the details of the rule, but industry executives say the new rules will likely be a blow to jobs and economic growth.” “
Even without the new ban, the industry would face a $1 billion hole in its finances, according [to] the New Jersey Department of Energy and Environmental Protection.
The industry is still working through the details of the rule, but industry executives say the new rules will likely be a blow to jobs and economic growth.”
The study’s findings are consistent with a recent analysis by the Brookings Institution, a think tank, that found that there are more than 4 million natural gas wells in the US.
But even the most optimistic natural gas estimates from the study would only cover the period from 2009 to 2019, and not include the years in between.
The report’s authors also pointed to a report from the U