Why the hyrdrocarbon boom?
IT'S ALL ABOUT THE FRACKING.
Natural Born Drillers
Paul Krugman in the New York Times
READ IT - HERE
"To be a modern Republican in good standing, you have to believe — or pretend to believe — in two miracle cures for whatever ails the economy: more tax cuts for the rich and more drilling for oil."
"More and more, Republicans are telling us that gasoline would be cheap and jobs plentiful if only we would stop protecting the environment and let energy companies do whatever they want."
"...tells readers that America as a whole could have a jobs boom, just like North Dakota, if only the environmentalists would get out of the way."
"The reality is that far from being hobbled by eco-freaks, the energy industry has been given a largely free hand to expand domestic oil and gas production, never mind the environment."
"The comparable-sized (to North Dakota) fracking boom in Pennsylvania has had hardly any effect on the state’s overall employment picture, because, in the end, not that many jobs are involved."
"Why, then, are Republicans pretending otherwise? Part of the answer is that the party is rewarding its benefactors: the oil and gas industry doesn’t create many jobs, but it does spend a lot of money on lobbying and campaign contributions."
"And intellectual bankruptcy, I’m sorry to say,
is a problem that no amount
of drilling and fracking can solve."
Never thought I'd feature a Krugman essay in this blog, but...
Word Up Paul !!
(BTW - It's not only the Republicans)
Don't you know?
You're going to Shock the Monkey