Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Wilbur Ross: Shale Gas Could Transform US Economy
Newsmax ^ | December 27, 2012 | Forrest Jones and Kathleen Walter

Posted on 12/31/2012 1:31:38 AM PST by 2ndDivisionVet

Policies that allow for the extraction of natural gas and oil in the country's shale deposits could transform the U.S. economy by creating jobs and improving the country's balance of payments, said Wilbur Ross, chairman and CEO of WL Ross and Co.

Attempts to burden the energy sector with heavy-handed regulation could wipe out growth in the sector and crimp a sector otherwise poised for lasting growth.

"We are very keen on shale gas. We have been for quite some time. I think it's the one thing that could transform the economy, and the great thing about it is it doesn't need any federal money," Ross told Newsmax TV in an exclusive interview. "All it needs is the federal people not to over-regulate and let it flourish."

Investments are flowing into the sector, Ross points out, meaning jobs are sure to follow if policy cultivates drilling of fossil fuels and doesn't hamper it.

"You are seeing BASF, the big German chemical company, putting a plant into Louisiana instead of into Germany. You are seeing Dow Chemical for the first time put chemical plants back into the U.S. because shale gas and the related type oil are, in fact, the feedstocks for chemicals and plastics and all sorts of things," Ross said....

(Excerpt) Read more at moneynews.com ...


TOPICS: Business/Economy; Culture/Society; Government
KEYWORDS: obama; oil; petroleum; shale
The Democrats and tree-huggers will do their best to goof it up.
1 posted on 12/31/2012 1:31:49 AM PST by 2ndDivisionVet
[ Post Reply | Private Reply | View Replies]

To: 2ndDivisionVet

It ain’t gonna do diddly without some industry to burn it in.


2 posted on 12/31/2012 1:52:54 AM PST by wolfpat (Not to know what has been transacted in former times is to be always a child. -- Cicero)
[ Post Reply | Private Reply | To 1 | View Replies]

To: 2ndDivisionVet

Love the ambiguity in the title. Why does the last part of Leviticus 26:16 come to mind? Always does when I think of our coal going to Red China, and coal-fired electric generators being shut down in this country all because of pseudoscience . . .


3 posted on 12/31/2012 2:02:18 AM PST by Olog-hai
[ Post Reply | Private Reply | To 1 | View Replies]

To: wolfpat

build factories, not unions.


4 posted on 12/31/2012 2:13:25 AM PST by knarf (I say things that are true ... I have no proof ... but they're true)
[ Post Reply | Private Reply | To 2 | View Replies]

To: knarf

My sentiments exactly.


5 posted on 12/31/2012 2:18:13 AM PST by wolfpat (Not to know what has been transacted in former times is to be always a child. -- Cicero)
[ Post Reply | Private Reply | To 4 | View Replies]

To: 2ndDivisionVet
""We are very keen on shale gas. We have been for quite some time. I think it's the one thing that could transform the economy, and the great thing about it is it doesn't need any federal money," Ross told Newsmax TV in an exclusive interview."

Which is why the left is going all out to stop it. I wonder who provided the funding for the "oh-so-topical" anti-fracking propaganda movie starring Matt Damon. I suspect the Saudis had a major financial role.

6 posted on 12/31/2012 4:06:17 AM PST by Wonder Warthog
[ Post Reply | Private Reply | To 1 | View Replies]

To: 2ndDivisionVet

We’re $16 trillion and climbing in debt...and only a game changer will ever fix that.

Anyone else see a non-bubble industrial advancement (i.e. unlike the dot.com farce) other than cheaper, homegrown energy in the near future?

In the far off future (50+ years) there could be space mining for rare earths, however, we’ll never get there if we don’t correct the balance sheet now.


7 posted on 12/31/2012 5:19:19 AM PST by mkboyce
[ Post Reply | Private Reply | To 1 | View Replies]

To: 2ndDivisionVet

Don’t forget the Middle East oil barons who are seeking to limit competition. They are, after all, the financiers behind the ‘Promised Land’ anti-fracking, propaganda film.


8 posted on 12/31/2012 5:22:09 AM PST by mkboyce
[ Post Reply | Private Reply | To 1 | View Replies]

To: Wonder Warthog
I wonder who provided the funding for the "oh-so-topical" anti-fracking propaganda movie starring Matt Damon. I suspect the Saudis had a major financial role.

Wouldn't surprise me at all. They have a friend in the White Hut after all.

9 posted on 12/31/2012 5:57:39 AM PST by YankeeReb
[ Post Reply | Private Reply | To 6 | View Replies]

To: Wonder Warthog

Not so sure about the Saudis, but it has been established that the United Arab Emirates (UAE) was the major money behind Promised Land.

While its still on the web (my time right now doesn’t permit to search &link) but Bing (or dreaded Google) “Burning Springs.” It’s a fairly COMMON town name in the US...why? Because the earliest settlers FOUND water sources, heavy with NATURALLY OCCURRING methane that would ignite.

It has NOTHING to do with fracking!!!

Damon, Krasinski (no more Office for me ever!!!) are celebutards who “know everything” (as long as “everything” is found in a big font, phonetically typed, in a script, written by someone else who cashes a UAE paycheck.)


10 posted on 12/31/2012 6:02:11 AM PST by PennsylvaniaMom (Mourning in America.)
[ Post Reply | Private Reply | To 6 | View Replies]

To: Wonder Warthog

Not Saudi, but another OPEC nation:

Can UAE-Backed Film Shut Down U.S. Fracking Boom?
http://news.investors.com/ibd-editorials/122112-638093-opec-just-loves-anti-fracking-film-promised-land.htm#ixzz2Gdb7kAvy

The New Matt Damon Movie That Blasts Fracking Was Partly Funded By The Government Of Abu Dhabi
http://www.businessinsider.com/matt-damon-movie-blasts-fracking-backed-by-uae-2012-9#ixzz2GdbMTW7x

Matt Damon’s Anti-Fracking Movie Financed by Oil-Rich Arab Nation
http://blog.heritage.org/2012/09/28/matt-damons-anti-fracking-movie-financed-by-oil-rich-arab-nation/


11 posted on 12/31/2012 6:02:15 AM PST by thackney (life is fragile, handle with prayer)
[ Post Reply | Private Reply | To 6 | View Replies]

To: Olog-hai
when I think of our coal going to Red China

Coal exports to China have been falling. They are only ~2% of our total coal exports.

U.S. Coal Exports
http://www.eia.gov/coal/production/quarterly/pdf/t7p01p1.pdf

12 posted on 12/31/2012 6:06:46 AM PST by thackney (life is fragile, handle with prayer)
[ Post Reply | Private Reply | To 3 | View Replies]

To: 2ndDivisionVet
... could transform the U.S. economy by creating jobs and improving the country's balance of payments, said Wilbur Ross...

Mr Ross, you MUST stop working at cross-purposes against the President of the United States.

13 posted on 12/31/2012 6:39:41 AM PST by upchuck (America's at an awkward stage. Too late to work within the system, too early to shoot the bastards.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: wolfpat
It ain’t gonna do diddly without some industry to burn it in.

Think "exports for hard currency" (just as the Soviet Union, East Germany, and all other failing Socialist states have been compelled to do)


14 posted on 12/31/2012 6:41:13 AM PST by Buckeye McFrog
[ Post Reply | Private Reply | To 2 | View Replies]

To: AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; ColdOne; Convert from ECUSA; ...

Thanks 2ndDivisionVet.
Attempts to burden the energy sector with heavy-handed regulation could wipe out growth in the sector and crimp a sector otherwise poised for lasting growth.

15 posted on 12/31/2012 7:28:34 AM PST by SunkenCiv (Romney would have been worse, if you're a dumb ass.)
[ Post Reply | Private Reply | View Replies]

To: All

I guarantee this....the Enivro-Fascists, along with Free Trader Communists and Middle Eastern Oil Cartels...will work together to prevent the US from being self-sufficient in petroleum and natural gas

All have different motives, but the same desired results. Enviros more concerned with trees than humans....Free Trader Communists hate American self-sufficiency and wealth (can you imagine a Free Trader Communist reaction to “the US selling oil to Communist China”?)...and the Oil Cartels would be put out of business


16 posted on 12/31/2012 7:36:57 AM PST by SeminoleCounty (Fiscal Conservatives are Neither)
[ Post Reply | Private Reply | To 15 | View Replies]

To: PennsylvaniaMom
While its still on the web (my time right now doesn’t permit to search &link) but Bing (or dreaded Google) “Burning Springs.” It’s a fairly COMMON town name in the US...why? Because the earliest settlers FOUND water sources, heavy with NATURALLY OCCURRING methane that would ignite.

Here's a link on Burning Springs

17 posted on 12/31/2012 7:43:37 AM PST by Ditto
[ Post Reply | Private Reply | To 10 | View Replies]

To: thackney
"Not Saudi, but another OPEC nation...

Thanks for the info. I figured it was one or another of the camel-humper nations.

18 posted on 12/31/2012 8:05:07 AM PST by Wonder Warthog
[ Post Reply | Private Reply | To 11 | View Replies]

To: PennsylvaniaMom
"Because the earliest settlers FOUND water sources, heavy with NATURALLY OCCURRING methane that would ignite."

Heh----sort of like the Californicators who blame the tar balls washing up on their so-called "beaches" on the oil industry, conveniently forgetting that the native Americans of that area used said tar to waterproof their ocean-going canoes LONG before there ever WAS an oil industry.

19 posted on 12/31/2012 8:09:08 AM PST by Wonder Warthog
[ Post Reply | Private Reply | To 10 | View Replies]

To: thackney

“Coal exports to China have been falling. They are only ~2% of our total coal exports.”

Please Recheck your data. The way I read the info you linked to indicates coal exports to China are up 107% YTD 2012 vs. 2011 !


20 posted on 12/31/2012 9:51:08 AM PST by 4FreeSpeach
[ Post Reply | Private Reply | To 12 | View Replies]

To: thackney

“Coal exports to China have been falling. They are only ~2% of our total coal exports.”

Please Recheck your data. The way I read the info you linked to indicates coal exports to China are up 107% YTD 2012 vs. 2011 !


21 posted on 12/31/2012 9:51:19 AM PST by 4FreeSpeach
[ Post Reply | Private Reply | To 12 | View Replies]

To: 4FreeSpeach

I was looking at the latest time period of the records, the first column versus the third.

July-Sept 2012 = 722,890 short tons
July-Sept 2011 = 989,490 short tons
This is a 27% decrease.

You are correct, when you include the earlier part of 2012 and 2011, there was an increase of 107%. But they remain a rather tony portion of our exports.

I looked for more data in the historical coal export records by country. But the amount to China was so small, it was not one of the countries tracked.

Coal Exports by Country of Destination, Selected Years, 1960-2011
http://www.eia.gov/totalenergy/data/annual/pdf/sec7_13.pdf

I don’t know if early 2012 was a relatively large increase, or was early 2011 a large decrease from the normal China exports. Possibly a combination of both.


22 posted on 12/31/2012 10:21:06 AM PST by thackney (life is fragile, handle with prayer)
[ Post Reply | Private Reply | To 20 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson