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Investor's Business Daily | March 12, 2015 | by Stephen Moore and Kathleen Hartnett White
As we all know from compelling employment reports for January and February of 2015, job growth is well on its way. So what’s the story? How can this be? Well, if those are the questions you’re asking, you’re correct to be asking them. It seems that the story of recent job growth is not being told in its entirety.
The fact is, is that much of our nations hiring rates are going up due to low energy prices, which has unleashed a comeback for many industries. So who’s behind the lower energy costs? The shale oil and gas revolution…that’s who. Here’s the facts about fracking: Shale gas drilling technologies have brought the cost of natural gas down from $12 per thousand cubic feet in 2008 to just around the current cost of $4.50. Natural gas is gradually replacing the use of coal as the leading electricity source in America, reducing carbon emissions more than any other nation over the eight-year period, which ended in 2013.
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