WSJ Front Page Natural Gas - There would have been $100 of billions in investment except Obama scared it off
By BEN CASSELMAN and RUSSELL GOLD
t isn't just Beaver County reaping the benefits of cheap gas. Plunging prices have turned the U.S. into one of the most profitable places in the world to make chemicals and fertilizer, industries that use gas as both a feedstock and an energy source. And they have slashed costs for makers of energy-intensive products such as aluminum, steel and glass.
"The U.S. is now going to be the low-cost industrialized country for energy," the energy economist Philip Verleger says. "This creates a base for stronger economic growth in the United States than the rest of the industrialized world."
Natural gas is only part of the story. The same hydraulic-fracturing revolution that is freeing gas from shale formations is being used to extract oil. U.S. oil production is up 20% since 2008, and the U.S. government expects it to rise another 12.6% in the next five years.
Economists at Citigroup Inc. C +1.11% earlier this year estimated that increased domestic oil and gas production, and the activity that flows from it, would create up to 3.6 million new jobs by 2020 and boost annual economic output by between 2% and 3.3%.
My fellow Americans. This is Providence in my opinion. God Fearing Democrats here are good paying jobs and all that is needed is to vote your Just common sense conscience.