Tuesday, April 23, 2013

Report Says Shale Boom is Adding Little to U.S. Economic Growth

From Business Insider:
The Washington Post's Brad Plumer points us to a note from Capital Economics' Paul Dales that makes a fairly radical assertion: America's shale boom has barely moved the needle on domestic economic growth. 
While the industry accounts for 2.5% of overall GDP, it's contributed just 0.6 percentage points (ppts) to the 7.6% rise in GDP since the recession, he says. Exploration and production investment has increased by 56%, but this represents only a $36 billion chunk of to real GDP, or 0.3 ppts of the increase.
Read the whole article here. 

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