You heard it first right here, economic recovery in the USA will be led by a boom in our energy industry, specifically gas production. There is no other sector of the US economy that at this time can perform this miracle. And I say miracle since the latest news paints poor prospects for economic growth, absent the “gas boom.”
The news coming from the gas fields of our Northern Plains shows a real boom area with jobs for all able bodied who come. Housing prices rising at record rates not even seen in San Diego during the housing boom of the first half of the first decade of this new century. And speaking of California, the gas boom promises to reach that state as well.
Who would have thought that a gas boom in Pennsylvania would spark economic recovery well beyond the lofty goals of President Obama’s “Stimulus” program? Remember, our oil industry started in Pennsylvania, no reason a resurging economy can’t start there too.
However, this “boom” will leave an environmental battlefield littered with failed arguments against increasing dependence on fossil fuels and warnings about the dangers of global warming caused by using fossil fuels. Also left for dead will be warnings about “fracking,” the technology that makes possible this new petroleum boom.
I have no doubt that the boom in our pertroleum industry will be the spark that finally ignites real recovery in our economy. I am equally confident that it will throw a wet blanket on the global warming debate.