I preface this article with one simple fact. According the the US Government EIA, the US has the world’s largest reserves of fossil fuels, it’s just that liberals will not allow American energy companies to go and get it.
As Spain found out, green energy destroys jobs. The technology just isn’t there, and may never be. Spain now has an unemployment rate of over 20% after their experiment with green jobs. Not good for anyone. For the near future, traditional fossils fuels will power the future, no matter how much babble comes out of Washington.
Most of Obama’s green jobs initiatives is not but liberal money laundering. I bet the majority of these companies go the way of Soylyndra … There is no viable self sustaining business that is green energy.
The relative strength of the energy sector can be seen in changes in income by region over the past decade. For the most part, the largest gains have been heavily concentrated in the energy belt between the Dakotas and the Gulf of Mexico. Energy-oriented metropolitan economies such as Houston, Dallas, Bismarck and Oklahoma City have also fared relatively well. In energy-rich North Dakota there’s actually a huge labor shortage, reaching over 17,000 — one likely to get worse if production expands, as now proposed, from 6000 to over 30,000 wells over the next decade.
What message does this send to politicians seeking to turn around our moribund economy? Perhaps they should target oil and gas development as a spur not only to new employment, but to the kind of “good jobs” that Gallup’s Clifton speaks about. With the proper environmental controls, these industries could provide a major jolt to the economy while cutting down on energy imports, reducing debts and bringing jobs back home. As long as Americans consume oil and gas, why not produce close to the market and with reasonable environmental controls?
The monthly proliferation of new energy finds can provide a much brighter future than many have anticipated. Industry experts say that the shift in energy exploration is moving from the Middle East to the Americas, with rich deposits of oil and gas uncovered from Brazil to the Canadian oil sands.
Much of the new action is on the U.S. mainland, including the Dakotas, Montana and Wyoming. Increasingly, there’s excitement about finds in long-challenged sections of the Midwest such as Ohio. The Utica shale formation, according to an estimate by Chesapeake Energy, could be worth roughly a half trillion dollars and be, in the words of CEO Aubrey McClendon, “the biggest to hit Ohio, since maybe the plow.”