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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 398.52

-4.4%

Dec 29 4:00 PM EST

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To: Snowshoe who wrote (88217)	3/22/2012 4:53:39 AM
From: elmatador	Read Replies (2) of 218816

Petrolization of the US economy: Domestic oil and gas production have played a part in the recovery of manufacturing by spurring related exports. Although a net importer of crude oil, America was last year a net exporter of energy products such as petrol. Cheap shale gas has revived the petrochemical industry, which uses it to make ethylene—which in turn is used in everything from grocery bags to bottles and tyres. The American Chemistry Council, an industry group, reckons shale gas could generate 17,000 jobs directly in the petrochemical industry, and many more indirectly. Years of high oil prices are driving up fuel efficiency. They have also stimulated domestic supply, in particular from unconventional sources like North Dakota’s Bakken formation. As a result America is importing, net, 9m barrels of oil a day, compared with 10m in 2008.

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