WonkyPanda
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Article
"Ferguson, who is also an author and commentator, believes the production of natural gas and oil from shale formations via a process known as "fracking" -- forcing open rocks by injecting fluid into cracks -- will be a game changer."
"U.S. energy production has been booming in recent years. The International Energy Agency made a jaw-dropping forecast two weeks ago that the U.S. would pass Saudi Arabia as the world's biggest oil producer by the end of this decade -- and would achieve near energy independence by the 2030s."
"The energy sector currently supports 1.7 million American jobs directly or indirectly, according to economic forecaster IHS global Insight. That could rise to 3 million by 2020, it says."
"It is also, he says, a big deal for the dollar. "As the U.S. moves towards energy independence and becoming the biggest producer in the world, the dollar can only benefit. Anybody who thought the financial crisis was going to lead to the demise of the dollar as an international currency is wrong -- it's quite the opposite.""
And, my favorite kicker:
"As a supporter of Mitt Romney he penned a controversial pre-election cover story in Newsweek headlined "Hit the Road, Barack," which was highly critical of the president's first term.
He concedes the irony that the president will now be the beneficiary of the 'good times that lie ahead.'"
"Ferguson, who is also an author and commentator, believes the production of natural gas and oil from shale formations via a process known as "fracking" -- forcing open rocks by injecting fluid into cracks -- will be a game changer."
"U.S. energy production has been booming in recent years. The International Energy Agency made a jaw-dropping forecast two weeks ago that the U.S. would pass Saudi Arabia as the world's biggest oil producer by the end of this decade -- and would achieve near energy independence by the 2030s."
"The energy sector currently supports 1.7 million American jobs directly or indirectly, according to economic forecaster IHS global Insight. That could rise to 3 million by 2020, it says."
"It is also, he says, a big deal for the dollar. "As the U.S. moves towards energy independence and becoming the biggest producer in the world, the dollar can only benefit. Anybody who thought the financial crisis was going to lead to the demise of the dollar as an international currency is wrong -- it's quite the opposite.""
And, my favorite kicker:
"As a supporter of Mitt Romney he penned a controversial pre-election cover story in Newsweek headlined "Hit the Road, Barack," which was highly critical of the president's first term.
He concedes the irony that the president will now be the beneficiary of the 'good times that lie ahead.'"
