As a result of its abundant Shale resources, the United States has surpassed both Saudi Arabia and Russia as the world’s leading oil and natural gas producer in 2014.
The world’s first commercial oil well was drilled in 1859 in Titusville. Room-and-pillar mines have been active in Pennsylvania’s bituminous coalfields since the late-1700s, and natural gas production in Pennsylvania dates back to 1881. The real story of innovation in mining, oil and gas in Pennsylvania is happening today.
Pennsylvania has the 2nd largest energy field in the world, ranked 2nd in the U.S. for Natural Gas Production, with 17.5 billion cubic feet produced per day. The state is also ranked 4th in the U.S. for energy production and with the 2nd largest energy field in the world, Pennsylvania is on the verge of a new industrial revolution.
The manufacturing, mining and construction industries along with oil & gas are foundation of Keystone State’s economy. As the 8th largest manufacturing output in US having an established and diverse supply chain that is ready to meet specific needs of any industry it is home to 17 Fortune 500 companies and more than 2,100 foreign businesses and expanding.
The unparalleled infrastructure, abundant energy supply, investor friendly business environment and tax regime is truly Advantage Pennsylvania making it one of the best investment destinations in the United States.