Oil & Gas Boom 2014: Jobs, Economic Growth And Security

Forbes ^ | Feb 20, 2014 | by David Blackmon

[Jim Robinson]

Despite all the climate-based hysteria put out into the public domain in recent weeks attacking the oil and natural gas industry (even the Weather Channel got into that act recently), three key factors continue to give policymakers pause about acting in ways that would negatively impact the ongoing boom. Those factors are:

* Jobs;

* Ancillary stimulative impacts on other industries; and

* National Security.

The reality for the United States is that the oil and natural gas industry has greatly enhanced the picture around all three of these critical factors in recent years, nowhere more than in my home state of Texas.

Where jobs are concerned, Texas has consistently outperformed the national economy in terms of job creation and rate of unemployment in every month since the advent of the Great Recession and the discovery of the Eagle Ford Shale play, both of which took place in October of 2008. Indeed, during the 24 month period from July 2009 through June of 2011, Texas created 49% of all new jobs created in the United States, and the vast majority of those jobs were either directly or indirectly the result of the state’s oil and natural gas boom, centered in plays like the Eagle Ford in South Texas, the Permian Basin of West Texas, and the Granite Wash play in the Texas Panhandle.

Nationally, the story is almost as good. Investors Business Daily ran a great piece on February 19 detailing much of the story from a national standpoint. Here is a key excerpt:

"The oil and gas boom is producing millions of jobs, and not just where you might expect. Employment is up 40% in the oil and gas fields since the recession began in late 2007. But in every one of the 10 states where hydrocarbon production is...

[unixfox]

This is happening despite what the EPA and the MARXIST regime is doing to stop it.

Make no mistake, they HATE it!

[mountainlion]

I think fracking is the tool that allowed private industry to get around government attempts to make energy so expensive that the economy could not grow. Salazar closed government lands and reneged on drilling contracts stop energy development. Saudis funded anti fracking in an attempt to stop our energy production as they are about to the end of their dominance of the crude cartel running the world.

[bigheadfred]

The Obama administration will do everything it can to wreck things.

John Kerry is now leading the charge for global warming?

I guess it makes sense since he is completely worthless as Sec. of State.

[volunbeer]

They love the taxes and hate the engine even as they seek total control over the industry.

The left is an unholy alliance of opposing forces that values power above everything. The people voting for the left are too ignorant to understand they vote against their own individual interests even as the leftists elite become more wealthy claiming to represent the little guy.

The left will gain power using the revenue generated by the very industry they despise. They have a winning formula for short term gains no matter the long-term damage.

[ScottfromNJ]

Ping

[abclily]

OK!! Everybody pay attention!

Lesson for today:

1. The sun is 1,300,000 times as big as the earth.

2. The sun is a ball of fire that controls the climates of all its planets.

3. The earth is one of the sun’s planets.

4. The earth is a speck in comparison to the size of the sun.

5. Inhabitants of the earth are less than specks.

Study Question: How do less-than-specks in congress plan to control the sun?

[Balding_Eagle]

Salazar closed government lands and reneged on drilling contracts stop energy development.

True that, and all but forgotten in the discussion.

Thanks for bringing it up.

[mgist]

You’re going to have a ton of DEM money, voter fraud, and media attacks in Texas. It’s not going to be easy.

http://www.americanthinker.com/blog/2012/09/what_do_soros_abu_dhabi_and_barack_obama_have_in_common.html

[thackney]

I see the bigger change came with the horizontal steerable drilling. We had hydraulic fracturing for many decades before. The ability to accurately follow a thin layer made the many multistage fracturing possible. Both were needed, but what changed this past decade or so was the Horz steering.

[SunkenCiv]

Thanks JimRob.

[Balding_Eagle]

You may have meant that for someone else.

[American Constitutionalist]

Jim Rob ? if you can afford to move to Texas from California ? then get out of California when you can.

[American Constitutionalist]

" The left will gain power using the revenue generated by the very industry they despise. "

Just like a deadly parasite that feeds on it's host until it's dead.
Yes Sir'ree.... that's what they are, a deadly parasite and disease.

[American Constitutionalist]

Because their puffed up pride has left their larger than earth sized egos and heads the size of the sun ?

[American Constitutionalist]

Yup, they can’t have that, a fair fight, with the conservatives holding the money advantage and a fair election.

[353FMG]

The O&G picture has drastically changed since this writing. Engineers and scientists are leaving Houston in droves to find jobs elsewhere. I know of engineers who haven’t had work for 6 months or more. Headhunters are fishing for resumes without offering jobs. Things look bleak in Harris County.