Shale revolution led to manufacturing jobs growth in Texas
The shale boom offered a “lease on life” for the petrochemical sector to create new manufacturing in the U.S., and a broader manufacturing boom could continue under President Donald Trump, said Andrew Liveris, the longtime chairman and CEO of Dow Chemical.Investment in the petrochemical sector has been significant beyond just Dow. It is one sector of the fossil fuel business for which there is no current alternative source. It is an important aspect of the economy that the "keep in the ground left" has no answer for.
Recently tapped by Trump to lead his Manufacturing Jobs Initiative, Liveris said he sees the potential for an “American manufacturing renaissance” — one that embraces technology while training workers for the future.
Liveris said he supported the notion of a globalization “pause,” but hopefully one that doesn’t last long. There’s a need to recalibrate and ensure that global growth doesn’t come at the expense of American workers. “It’s so important to not leave a substantial part of humanity behind,” he said.
Dow Chemical is buoyed of late by the cheap and ample natural gas feedstock in the U.S., leading to Dow investing more than $6 billion in expansions along the Gulf Coast, primarily south of Houston in Freeport and Lake Jackson.
“‘We ain’t done yet,’ as Texans say,” Liveris said. “We’ve got more to invest.”