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U.S. shale natural gas resources have the potential to ignite a domestic manufacturing “renaissance” that could create one million jobs and billions in energy cost savings, according to a new report by industry consultant PwC US.

The United States is poised for an “energy renaissance” that would give it independence from foreign energy supplies and create thousands of jobs, but it won’t happen without federal policies that expand domestic access to resources and give companies more regulatory clarity, Chevron Corp. CEO John Watson said last week.

The United States is poised for an “energy renaissance” that would give it independence from foreign energy supplies and create thousands of jobs, but it won’t happen without federal policies that expand domestic access to resources and give companies more regulatory clarity, Chevron Corp. CEO John Watson said Wednesday.

The U.S. natural gas-directed rig count has fallen from its 2009 peak, but the “turning point” for domestic gas supplies won’t happen until the end of 2012, according to a report by Barclays Capital.

The U.S. natural gas-directed rig count has fallen from its 2009 peak, but the “turning point” for domestic gas supplies won’t happen until the end of 2012, according to a report by Barclays Capital.

Two separate bills calling for a comprehensive study of hydraulic fracturing (hydrofracking) in North Carolina — a state where the practice is currently illegal — are expected to be sent to Democratic Gov. Bev Perdue this week.

The New York Assembly’s Environmental Conservation Committee this week reported out of committee legislation to suspend until June 1, 2012 the issuance of new permits to drill that use hydraulic fracturing (hydrofracking) to extract natural gas or oil.

A Duke University study released Monday found high levels of leaked methane in well water collected near shale gas drilling and hydraulic fracturing (fracking) sites in the Marcellus Shale play. However, Duke researchers said there was no evidence that fracking fluids contaminated the water wells.

The Gulf of Mexico (GOM), despite the setbacks in the past year, is one of the world’s great producing regions, and an increasing proportion of activity and production will happen in ultra-deep waters, requiring “constant activity, new capital investment and the participation of a set of large and small companies,” PFC Energy said Friday.