I have learned many things in my first seven months as executive director of WVONGA, but one thing is abundantly clear - - there is a lot of passion for this industry in West Virginia. The excitement is contagious. The opportunities are enormous due to the vast quantities of oil and gas beneath our feet. There are obvious opportunities for our production, midstream, transmission and distribution companies.
There are great economic benefits to the state if the industry succeeds, which is especially important during these fiscally challenging times. And, in addition to that, the downstream opportunities are staggering. Natural gas can foster the resurgence of the manufacturing industry in West Virginia beyond where it once was. And everyone is on board to make this a reality! What a pleasure it is to work in an industry that creates such an excitement and momentum to make West Virginia bigger and better. And right now, that momentum is leading to the creation of a storage hub for natural gas liquids.
Many believe that a storage hub is the key to our future success in West Virginia. The concept involves creating storage for the abundance of natural gas liquids that can be produced in the Appalachian Basin so that it can be used in the chemical manufacturing industry to make the products we use every day. Did you know that natural gas creates plastics? Did you know that West Virginia has a long history of using natural gas to make products? It's a no-brainer that we jump on this opportunity now because we know we have ALL THIS GAS!
Some of the brightest minds are studying and analyzing the benefits, costs and process for developing a storage hub. Our state and federal representatives are working hard to get funding and government support for the project. In fact, on July 7th WVONGA presented Senators Manchin and Capito with a resolution of support for the storage hub and in appreciation of their efforts to make it a reality. To read our news release about the resolution, click here.
Our private investors are working hard to determine the validity and viability of supporting the concept. Our downstream companies are contributing to the effort to make this dream a reality. The excitement is contagious and the momentum is building. The storage hub could be the solution for creating a better West Virginia.
This is the first of many WVONGA blog posts and not the only time you will read about the storage hub here. But, as an initial introduction into our thoughts and feelings about the industry I thought "go big or go home" and address what I truly believe is our next big thing. Stay tuned for more news and thoughts about current happenings in our industry from me and from guest bloggers. And get excited for what is to come, because it's coming in a positively transformative way!