Posts tagged “efficiency”
As I wrote yesterday, I believe that the U.S. is moving fundamentally towards a point where it will be a major net exporter of energy, especially of refined oil products.
Everything we’re hearing now in the political sphere and in the press is about how bad the spike in gas prices is for the American economy. But – if we are to become a major energy producer – that cannot be true. It is no longer the case that high oil prices are unrelentingly bad for our economy: they’re only bad for oil consumers. Here in DC, we’re pounded by API’s ad campaign that three are over 9 million people directly employed by the oil and natural gas industry. In a total national workforce of 154 million, that means that almost 6% of the workforce is employed by the industry.
Certainly, we’ve seen the low unemployment rate in North Dakota as proof that an energy boom can create jobs. Last fall, the Wall Street Journal ran a very widely read article, “The Non-Green Jobs Boom” saying how clean energy was failing to produce jobs, but there were lots in traditional energy sources.