Each day better energy news
The economy is still not good. Imagine how much worse w/o the massive fracking stimulus.
Millions of dollars are staying in the U.S., creating American wealth and American jobs. It is much better than it was in 2005 and it keeps getting better.
Someday the economy will again reach a decent growth rate. When it does, our energy boom will power us to new heights. Until that time, we should be grateful that fracking is helping prop up our weak recovery. In good and bad times, having more control of our energy future is a good thing.
Posted by Christine & John at February 21, 2014 8:52 PM
Textile Manufacturing Is Back
“If any community that was hit as hard as we were is looking to Washington, D.C., to fix your problems, you’re wasting your time. Tip O’Neill said all politics is local,” Tunnell said, referring to the late speaker of the U.S. House of Representatives from Massachusetts. “I say all economic development is local.”
Manufacturing is returning to America
What is going to accelerate the trend isn’t, as people believe, the rising cost of Chinese labor or a rising yuan. The real threat to China comes from technology. Technical advances will soon lead to the same hollowing out of China’s manufacturing industry that they have to U.S industry over the past two decades.
Yet, the price of gas has done nothing but go higher (except, of course, the noticible drop before the 2008 election). How are higher energy costs improving the economy? Many people are worried about the inflation the $15B that would land in the hands of low income workers might somehow engender. Yet the increase in fuel costs of gasoline over 10 years have funneled an additional $412B to the oil compaines and speculators while taking it from the average man, trucker, worker, business, etc…
(Based on an average of 3 Billion Barrels per year * 55 gallons per barrel * 10 years * average increase of $0.25 per gallon per year.)
Meanwhile, fracking doesn’t decrease gas prices and creates only a few jobs in exchange for the long term destruction of local environments. And, IMHO, in no way does the money “staying here” do anything other than enrich the few who own the sites and distribution networks. A few rich people does not a robust economy make; supply side economics is still, to quote a former President, Voo Doo economics.
Fracking has created thousands of jobs. It is doing better than the Obama stimulus and it creates taxpayer value rather than consume it.
Re “a few rich people” Unemployment if fracking states is low. Wages are high in these places too. The wonderful thing about the energy revolution is that it is widespread.
Fracking has created thousands of jobs. It is doing better than the Obama stimulus and it creates taxpayer value
Ummm, no. I couldn’t disagree more.
“Thousands” of local jobs that distort a local economy.
- Inflate living expenses (benefitting a few, displacing and harming the many)
- Overload local infrastructure (forcing many poorly reimbursed expenses to be born by localities)
- Destroy the local environment (once the oil people leave a mess and future superfund site is left behind)
- What taxpayer value? There has been zero effect on oil prices, therefore no economic stimulus via cheaper energy. The additional billions in oil income go to the oilmen and the speculators. Those profits go to the Cayman Islands and remain largely untaxed.
- The ARRA resulted in millions of new and saved jobs, despite what Murdoch and the Koch brothers would like people to believe.
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