Manufacturing News

Fracking slump could spell trouble for manufacturers

By Austen Hufford and Bob Tita for The Wall Street Journal

Nov 18, 2019

Slowing shale-drilling activity is the latest damper on U.S. manufacturers that had come to rely on a booming domestic energy market.

Advances in fracking and drilling transformed global energy markets over the past decade, raising U.S. oil-and-gas production to record levels. That has created big business for American factories supplying drillers with cranes, engines and pipes. The oil-and-gas industry bought $48 billion worth of manufactured products in 2018, the U.S. Bureau of Economic Analysis said.

To learn more, read "Manufacturers Face New Threat From Fracking Slump" from The Wall Street Journal.