Posted on 07/29/2011 6:00:02 PM PDT by Kaslin
Energy Policy: A new study documents a mini-boom caused by the development of the Marcellus Shale formations in Pennsylvania, creating jobs and revenue. Maybe the second rule of holes is that when you're in one, start drilling.
While Washington unravels over hitting the debt ceiling, fretting over a stagnant economy, a shortage of revenues and an abundance of spending, a quiet economic boom is occurring in Pennsylvania that shows much of our economic wounds are self-inflicted.
That developing domestic energy could go a long way toward generating the revenues, jobs and energy we desperately need is shown by the third and final study by researchers at Penn State on the development of the Marcellus Shale and its economic impact on Pennsylvania and the U.S.
"Large-scale development of the Marcellus is reshaping the economic landscape of Pennsylvania," concluded authors Timothy J. Considine, Robert Watson and Seth Blumsack. They note that in 2010 alone, the Marcellus Shale natural gas industry triggered $11.2 billion in economic activity, generated $1.1 billion in state and local taxes, and supported nearly 140,000 jobs.
Don't expect the Obama administration to tout the Marcellus experience as an example of American ingenuity and innovation. If it had its way, the Marcellus would be paved over with solar panels and the hillsides dotted with wind turbines, hoping for the sun to shine and the wind to blow.
(Excerpt) Read more at investors.com ...
Drill, Baby, Drill!
Obamaite: "Oilies are just sooo.....icky...ewww! The EPA should just shut them down!!" Economically ignorant fully deserving to freeze to death in the dark...
Somebody knows nothing about economics and the current market conditions and is in the back room blowing weed.
To explain to the writer, my nephew has spent years making electricity in a coal fired plant, he has already been told that his job will be gone in three years when they switch to gas instead of coal. So you have a few short term jobs making wells and putting in pipe, in the long term those all go and all the people who had jobs in the coal industry will be out of work as well. Real boom you got going on there.
They are building a new gas power plant here in PA I heard. Maybe he can come work there?
Seriously the attack by Obama and friends on coal is what’s costing him his job. Not gas exploration.
The demand for cheap, plentiful electricity is only going to keep rising.
Take it easy, only joking about moving the job, that’s why next sentence starts with “seriously”.
Anyway, I doubt it’s only because gas is cheaper. Coal is getting slammed with new regulations right now. The price of gas will evolve with demand.
I’m sure you could make a more detailed case for what you’re saying if you had the time or inclination. I’ve read your posts on energy issues before.
Until then I have to say I’m really enjoying the benefits of drilling in the Marcellus Shale, though I am not yet profiting from it directly.
Hope you make a killing. There will be a lot of short term money made.
1. Energy independence.
2. As a necessary precondition to 1., the total destruction of the environmental/green movement. As in, "delenda est".
3. We need a rational system of money and banking as opposed to what we have now.
4. We need a rational system of paying for health care and/or making it affordable. This would amount to several instances of what TR used to call "trust busting", most particularly getting rid of the junk lawsuits, the influence of the trial lawyers, and the CYA defensive medicine which goes with all that.
Those would be the major or most major items.
Obama and the EPA want to put coal out of business. Obama made a campaign promise to make digging and using coal so expensive nobbody will do it.
I think it was an NPR interview.
http://www.youtube.com/watch?v=CPl8lwnl-Z8
we can’t grow our way out of a recession when the government is anti-economic growth as this one is.
EPA is now on a mission to choke that baby!
“Obama made a campaign promise to make digging and using coal so expensive nobody will do it.”
Just like nuclear. Or oil drilling. For that matter, solar energy installations have already faced law suits for interfering with reptile migrations. And banks of wind mills have been shut down for killing birds.
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