norris, when I spotted this below I thought about that 10 TRILLION dollar folly about the Marcellus + Utica ....
This was about the Eagleford:
"The Eagleford Shale in southwest Texas is a premier liquids-rich development in the United States. With its higher-margin oil and natural gas/condensate, the Eagleford Shale is also among the most capital-efficient shale plays in Anadarko’s U.S. onshore portfolio.
In 2011, industry activity in the Eagleford Shale generated more than $25 billion in total economic output. It provided $257 million in local government revenue to southwest Texas communities and an additional $358 million in state tax revenue source. The Eagleford Shale demonstrates the job creation that can be achieved through domestic oil and natural gas production, with southwest Texas counties recording some of the highest employment rates in the country."
....if they were about the same size in economic activity....would that be only about 400 years to get to ten trillion dollars in economic activity?
...so double the rate since things will probably increase....does that mean that it will only take 200 years to generate the $10,000,000,000,000 in economic activity that was posted?
Yes I see the whole OLB has gone epic in the group fluttering chatter today.
As the OLB has no economic, business or investment study they do not understand $25 billion in output is an input into an economic multiplier of activity.
But Obama has killed the usual economic multiplier. We are not drilling as quickly as the well ROIs would dictate. A large part of this is due to the fact our chemical companies are going very slow with investment due to Obama irrationality and therefore policy uncertainty.
As you know the total economic output of a wealth creating activity moves through the economy gathering energy.