7 U.S. States That Are Worse Off Than Greece, Portgal, Ireland, and Spain
Posted Feb 05, 2010 04:15pm EST by Gregor MacDonald in Investing, Recession, Banking
One of the factors the author notes in the financial downfall of those seven states is the importation of energy supplies.
The sad thing about that is 4 of those 7 could be net exporters, or at least produce significant portions of their own supplies. California and Florida could, obviously, allow drilling for oil and gas all over the place.
North Carolina and New Jersey also have significant deposits of at least gas. N. Carolina also has coal. Ohio, Michigan and Illinois, I think, also have large coal deposits.
Each of these states could make a major difference in their own futures if they would just take advantage of their own resources. They won’t, of course, being controlled by people determined on economic suicide.