Energy is a super-resource. It is beneficial to several targeted economic problems and may even help some political conditions. The qualities of energy make it a special category of elements found in nature: a super-resource.
Berries, broccoli, and beans are all considered superfoods which are defined as a special category of foods found in nature; a food that is considered to be beneficial to your health and that may even help some medical conditions. They pack a lot of punch.
Oil, natural gas and coal, are all super-resources. They are found in nature. They pack a lot of punch. They are beneficial to the economy in that they create jobs, increase revenues, and help balance the trade deficit.
Here are three examples of how these super-resources benefit the economy.
The Keystone pipeline would create thousands of jobs—primarily union jobs in construction (one of the hardest hit industries in the economic recession) and increased service employment in supporting communities. These jobs and the various land-use payments will provide additional revenues to the federal coffers. As some of the oil brought into the US will be refined and exported, it will help balance the trade deficit.
America’s abundance of natural gas—due to the combined techniques of horizontal drilling and hydraulic fracturing, and new technologies—means that there is more natural gas available than can be used within our borders. Many countries, such as Japan (with whom we run a $6 billion trade deficit), want our excess, but to ship it, the natural gas must be liquefied—which requires special liquefied natural gas (LNG) terminals. Reports indicate that LNG exports would “result in the creation of over 100,000 direct, indirect, and economy wide jobs and have an immediate economic impact resulting in $3.6 to $5.2 billion in potential annual revenues.”
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for September 17th, 2014 | John Ransom
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