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 ...
It ain’t gonna do diddly without some industry to burn it in.
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 . . .
build factories, not unions.
My sentiments exactly.
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.
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.
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.
Wouldn't surprise me at all. They have a friend in the White Hut after all.
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.)
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/
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
Mr Ross, you MUST stop working at cross-purposes against the President of the United States.
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.
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
Thanks for the info. I figured it was one or another of the camel-humper nations.
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.
“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 !
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