Toby Mack, president and CEO of the Associated Equipment Distributors since 1989, will be leaving AED to form the Energy Equipment and Infrastructure Alliance, which Mack described as the voice of the shale energy supply chain. Mack, who announced his coming departure at the recent AED Executive Forum in Rosemont, Ill., said EEIA includes AED, Association of Equipment Manufacturers, American Rental Association, Associated General Contractors, ARTBA and nine other trade associations, six energy organizations and two labor unions, and will lobby on behalf of the shale energy industry, which will provide massive opportunities for the construction industry.
In a presentation at the Forum, Mack said the sudden and growing abundance of shale energy reserves, including recent discoveries in California, Colorado, Texas, Pennsylvania, West Virginia, Ohio and other states, along with rapid advances in discovery and mapping technology and new technologies lowering production costs will lead to dramatic benefits for the United States economy. Mack said by 2020, the opportunities can create 3.3 million new jobs, add $125 billion to federal and state tax revenues; $468 billion to U.S. GDP, $258 billion to annual industrial output, and more than $100 billion in new chemical manufacturing capacity.
Mack said U.S. growing oil and gas production will lead to U.S. energy independence, enabling North American sources to meet 100 percent of consumption needs, making the U.S. less vulnerable to geo-political risk, and will lessen the leverage of OPEC, Russia, the Middle East, and African and South American oil producers.
Source: Rental Equipment Register