2017 Looks Good for Oil and Gas - WTRF 7 News Sports Weather - Wheeling Steubenville

2017 Looks Good for Oil and Gas

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There is more and more evidence that the oil and natural gas industry is not only picking up, but booming again.

Recently, industry officials from all over the country converged on Oglebay with the belief that there's huge potential for the rest of the year and beyond.

We all know 2016 was a low point for oil and natural gas in the Mountain state.

Contractors had little work, prices were low and companies were barely hiring.

West Virginia Oil and Natural Gas Executive Director Anne Blankenship said that 2017 is looking good though. The oil and gas industries are picking back up.

"I think that things are going very well and they're only going to continue to go even better, especially with the pipelines that are going to be built. And what that means for this area, especially in this state, is more jobs, better quality of life, we're going to have, you know, more taxes that are going to be paid to the local communities because of all the jobs that are going to be directly and indirectly affected."

Officials also say 2017's upward trend is creating huge potential for WV. Not only will this pick up in oil and gas create more jobs, but it will also bring more revenue to the state and local communities.

Of course, as industries pick back up, more people will be coming to the area, which means activity for businesses such as hotels and restaurants will pick up as well.

Government and Community Relations Director Maribeth Anderson said this has local officials excited because more activity means more money.

"You can't help but listen to senior executives talk about the millions and even more than a billion dollars of investment. All of that, of course, leads to more activity, leads to more jobs. And that's probably the biggest impact to the community, is that the jobs and the investment piece that is so important to West Virginia."

The Appalachian Basin is a huge producer and provider of natural gas, not only in the country, but in the world.

Officials are ecstatic that they're finally seeing activity again because of the all the money being invested.

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