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U.S. Set for Fracking Bonanza, says Historian Ferguson (A New Golden Age For America)
CNN ^ | November 23, 2012 | Andrew Stevens

Posted on 11/26/2012 5:41:58 AM PST by lbryce

If there's been one consistent thread running through the U.S. economic story since 2008, it's been the steady drumbeat of gloom.

Outright recession or sub-standard growth, stubbornly high unemployment and fiscal crises have been the topics du jour when it comes to the world's biggest economy.

But now an unlikely champion for U.S. growth under the Obama administration has emerged -- a former adviser to a Republican Party presidential candidate and Harvard history professor, Niall Ferguson, who says America could actually be heading toward a new economic "golden age."

And it has nothing to do with Washington and everything to do with energy.

Read: Can natural gas live up to potential?

Ferguson, who is also an author and commentator, believes the production of natural gas and oil from shale formations via a process known as "fracking" -- forcing open rocks by injecting fluid into cracks -- will be a game changer. What in the world? To frack or not to frack Fracking boom lifts India's poor CNN Explains: Fracking

"This is an absolutely huge phenomenon with massive implications for the U.S. economy, and I think most people are still a little bit slow to appreciate just how big this is," he said in Hong Kong this week.

"Conceivably it does mean a new golden age."

(Excerpt) Read more at us.cnn.com ...


TOPICS: Business/Economy; Extended News; News/Current Events
KEYWORDS: obama; obamageddon
If there's one man who will see to it how egregiously misguided Niall Ferguson is, that man will do everything in his power to prove him wrong. "Nothing is going to get in the way of the Obamageddon to run its course. I won't allow anything to hinder my agenda from coming to fruition".
1 posted on 11/26/2012 5:42:04 AM PST by lbryce
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To: lbryce

Not everyone in the Dem party is Obama. Gov Cuomo of NY realizes reality. His state has a budget gap. Wall Street is not as lucrative as before as staff layoffs in banking, salary/bonus caps, etc etc is eating into state revenues. Now Kodak is bankrupt, Xerox is going from printers to software, layoffs are hitting NY state. NY is sitting on natural gas and oil like PA. PA is booming while NY is sliding into recession. Reality forces one to be practical. Gov Cuomo manage to propose fracking as long it is not near the fresh water reservoirs in upstate. Problem is will he get the proposal thru the green opposition in his party. There are Dems who understand the need to frack to make up for the revenue shortages looming, problem is they have their hardcore environmentalists to deal with. Remember labor was pissed off at Obama to hold up the Keystone Pipeline. Fracking may be the wedge issue the GOP has to gain blue collar Dem voters in 2016.


2 posted on 11/26/2012 5:54:49 AM PST by Fee
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To: Fee
Remember labor was pissed off at Obama to hold up the Keystone Pipeline.

How did labor vote this last election? Which side got almost all of their support?

3 posted on 11/26/2012 5:58:16 AM PST by YankeeReb
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To: YankeeReb

They were also pissed about drilling in Alaska...no matter...that didnn’t happen either.


4 posted on 11/26/2012 6:06:36 AM PST by Sacajaweau
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To: lbryce

EPA is on it, so don’t hold your breath.


5 posted on 11/26/2012 6:07:06 AM PST by sphinx ([)
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To: sphinx

This wedge issue didn’t work this year...the youths are solid green..and the uneducated could care less.
The real problem is that what increase in domestic petroleum and gas energy we do produce will only give Obama additional revenue to sustain his sweeping socialist programs.
NY and CA are two states that would rather go broke than produce more oil or gas.


6 posted on 11/26/2012 6:14:56 AM PST by Oldexpat
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To: lbryce
But now an unlikely champion for U.S. growth under the Obama administration has emerged -- a former adviser to a Republican Party presidential candidate and Harvard history professor, Niall Ferguson, who says America could actually be heading toward a new economic "golden age." And it has nothing to do with Washington and everything to do with energy.

Poor, misguided Niall. Who does he think controls the energy in this country? While it's not yet complete, the takeover is well under way. Just look at the EPA, the land grabs by the govt. No one wants to stop it.

7 posted on 11/26/2012 6:26:26 AM PST by raybbr (People who still support Obama are either a Marxist or a moron.)
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To: sphinx

This wedge issue didn’t work this year...the youths are solid green..and the uneducated could care less.
The real problem is that what increase in domestic petroleum and gas energy we do produce will only give Obama additional revenue to sustain his sweeping socialist programs.
NY and CA are two states that would rather go broke than produce more oil or gas.


8 posted on 11/26/2012 6:29:19 AM PST by Oldexpat
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To: Oldexpat

I think you are right. I think Moron will take credit for this “boom”. Because his voters are Idiots, they will believe it and the Dems may be in power for a very long time. I can see it now....

They (Repubs) said we’d run out of money...didn’t happen...they lied! We (Dems) told you it’d be ok.
They said our economy was unsustainable, look at all the free program we have for you.

Etc etc etc


9 posted on 11/26/2012 6:54:46 AM PST by my small voice (A biased media and an uneducated populace is the biggest threat to our nation.)
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To: lbryce

And major US success with domestic gas (and oil) would stop the transfer of hundreds of billions of dollars per year from the US economy into the hands of Islamic theocracies in the Middle East, African dictators, and Hugo Chavez. Dear Leader would not be pleased.


10 posted on 11/26/2012 8:20:35 AM PST by Chewbarkah
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To: lbryce

I have read, and am reading, a lot by Ferguson. Very intelligent, very insightful, but he is at the end an Englishman.

In that, he sees the world as an Englishman does. He can not understand that the US will willingly choose decline.

Yet we have.


11 posted on 11/26/2012 9:44:13 AM PST by redgolum ("God is dead" -- Nietzsche. "Nietzsche is dead" -- God.)
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To: lbryce

Yeah, The Gas Company came out last week and took out the meter. Said it wasn’t worth monitoring usage anymore.


12 posted on 11/26/2012 9:54:26 AM PST by Starstruck
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To: lbryce

“U.S. Set for Fracking Bonanza, says Historian Ferguson (A New Golden Age For America)”

Hopeless daydreamin’, for now.

The Obammunists, with the aid and abetting of the EPA, will put a cap on this as quickly as they can, after they kill the coal industry.


13 posted on 11/26/2012 10:08:50 AM PST by Road Glide
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