Skip to comments.America's New Energy Future: Unconventional Gas Revolution and the US Economy
Posted on 10/23/2012 2:16:41 PM PDT by SC_Pete
Among the key findings in the IHS study: Nearly $5.1 trillion in capital expenditures ($2.1 trillion in the oil sector, $3 trillion in the gas sector) will take place between 2012 and 2035 across the entire upstream unconventional oil and gas activity sectors. Employment in the entire upstream unconventional oil and gas sector on a direct, indirect, and induced basis will support nearly 1.8 million jobs in 2012, 2.5 million jobs in 2015, 3 million jobs in 2020, and nearly 3.5 million jobs in 2035. The jobs created tend to be high quality and high paying, given the technologically innovative nature of unconventional oil and gas activity. Workers associated with unconventional oil and gas are currently paid an average of $35.15 per hourhigher than the wages in the general economy ($23.07 per hour) and more than wages paid in manufacturing, wholesale trade and education, among others. Unconventional energy activity will contribute $237 billion in value added contributions to GDP in 2012, a figure that will increase to $475 billion annually in 2035. Unconventional oil and gas activity will generate more than $61 billion in federal and state government revenues in 2012 and increase to $91 billion in 2015 and $111 billion in 2020. By the last year of the forecast period, in 2035, government revenues will increase to more than $124 billion.
(Excerpt) Read more at industryweek.com ...
Got a little of that Private Investment
with positive returns on gas wells in
West by God Virginia
Now if you could just get rid of all those RAT Senators you got down there, we could really get things goin!! :)
Our industrial base went bye bye a long time ago. Free Trade is so free when the other countries aren’t playing fair and our “Captains of Industry” sell out the us worker......
Economists typically assign a 4:1 economic ratio for core industrial spending like this. However, developing domestic energy at the “expense” of energy imports this ratio must be 8:1 or higher.
Not to mention that the commodity produced is energy which liberates other spending on travel, construction and manufacturing.
Our prosperous eras always had cheap or stable energy costs.
Here’s the link to the projected job creation. I think you will be astoiunded!!
Here’s the IHS link for the report and a video from Daniel Yergin (yes, THAT Daniel Yergin):
Are you sure you wouldn't be happier at Salon or HuffPost or The Nation??? Why are you spouting Obama/commie-think on a conservative site??
There is still plenty of "industrial base" in the US, and with the NATGAS energy revolution, there will be lots more.
If you knew anything about US history you would know that tariffs fund the US govt. from 1897 thru the Civil War era. So your stupid insult says a lot about you historical knowledge level. I’ll side with Washington, Jefferson, Monroe and Madison any day. You can play footsies with free traitors. BTW Marx was a free trader too. You have him going for you.
LOL. I'm not the one spouting Marxist-think about the "evil-capitalists". And you have zip idea what I know about US history (quite a bit, actually, since my ancestors were prominent in the Revolutionary era, one serving as US treasurer, another as governor and signer of the Declaration of Independence).
It's about FREEDOM. If some business owners want to move jobs to China (and other non-US destinations), it's their choice, their right (and their risk). Tariffs long ago outlived their usefulness. The reason the "rust belt" died had more to do with union labor and work rules than "evil capitalists".
And many US companies that have "outsourced" functions are "un-out-sourcing/in-sourcing" as they are finding the quality of the work to be inadequate for long-term viability. Cheap energy will accelerate this process.
Well there it is, a steaming pile of bull $h1t for all to see. Well those quaint mis guided founding fathers would spit in you f-ing face if alive today.
LOL. Do you wear dentures carved from wood?? Do you, when ill, call someone to open your veins and bleed you?? Even the FF have been proven wrong in the long term. They thought that the Constitution would bind government to the will of the people. Look at the situation today.....does government look anything remotely like they intended it to be???
The simple fact is that the Federalists have been proven wrong, and the anti-Federalists right on virtually every topic they debated on.
The simple fact is that tariffs would INCREASE outsourcing, not decrease it. The easiest way to avoid a tariff is to build a plant outside the US. That is the simple economic fact as it stands today. The US has to learn to compete in an era of "free trade" or even unfair trade.
Maybe we should have outsourced our entire aircraft industry to the Japanese in the 1930’s.
And your point is??
If the attitude toward American manufacturing was the same in 1930’s as it is today we would have lost WWII. Every closed factory is a national security issue. There will be a conflict with China soon, and you Free Traitors will then look real unpatriotic. As you should. The trade we have with the world, I don’t want to call it Free Trade, a better name would be screw trade. This system will be thrown on the scrap heap of history along with Keynsian economics.
Today is not the 1930's. The economic picture is totally different. Like it or not, tariffs simply are no longer practical. The pool of capital to build new plants is simply too large and too dispersed to be able to prevent a mfg. from building a new plant "offshore".
"Every closed factory is a national security issue."
Hardly. And a ridiculous statement.
"There will be a conflict with China soon, and you Free Traitors will then look real unpatriotic. As you should."
There may well be a conflict with China, though I doubt it. But "free trade" has zip to do with it. HOW exactly do you prevent a mfg. from building a new plant, for instance, in Singapore, without instituting a dictatorial regime as bad as China???
"The trade we have with the world, I dont want to call it Free Trade, a better name would be screw trade. This system will be thrown on the scrap heap of history along with Keynsian economics."
So, what, exactly is going to replace it, without instituting even MORE rules/regulations/limits on freedom than we currently have and a situation WORSE than China
The fact of the matter is that 90% of the jobs in the US are in small business....NOT Ford, GM, Boeing, etc. Remove the onerous regulations from any and all employers with less than 100 employees. Those small business are not likely to move offshore, and some of them likely represent the next generation of Ford/GM/Boeing.
7% of the workforce it unionized. The workers that are being undercut in the USA are non union.
Perhaps today, but I doubt it. There is no question, though, that the original impetus for "offsoring" was overpriced labor and work rules.
But I'll ask again. What is your solution that won't result in a tyranny as bad as China, or worse?
A 10% import tariff with an accompanying 10% Income tax rate reduction would not be tyranny.
Already told you why a tariff wouldn't work. To recap.....if you impose a tariff, American companies will build still more plants offshore. Please explain why this wouldn't happen, or how you would prevent it.