Energy Boom Ripples Through US Economy
Barring an unanticipated setback, so-called “unconventional” oil and gas production is expected to continue to grow over the next two decades. Over that period, the industry is expected to make more than $5 trillion in new capital investment that will support more than 3.5 million jobs by 2035, according to the financial analysis firm IHS Global Insight.
That economic impact of such spending already is spreading, especially to companies that rely heavily on natural gas as a raw material or energy source and investing and hiring.
Boulder better get to work on that unanticipated setback or their Municipalized electric utility will have higher rates than Xcel.
“This is not going to be a one- or two-year thing,” said Ross Eisenberg, head of energy and resources policy at the National Association of Manufacturers. “We’re going to see lower natural gas prices for a long, long way into the future.”
I have this sneaky suspicion that setback, if there is one, will be via “green energy politics”.
Oh, and the bad news? That’s good news for the rest of us and the US economy.
