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Friday, February 19, 2016

A Second Shale Boom is the Key to U.S. Economic Revival, Report Says

From a press release:
New Report Proposes Strategic Extension of American Petroleum Power 
The past decade witnessed an American energy revolution driven by shale growth; by actively promoting hydrocarbon output, Congress can boost recovery & make geopolitical headway 
NEW YORK, NY (2/11/2016) – While the naysayers preach oil’s decline and overestimate the viability of alternative energies, American shale oil companies—after radically and rapidly repositioning the country in global oil markets and boosting economic recovery—have been largely neglected. A new paper by Manhattan Institute Senior Fellow Mark Mills illustrates the increased importance of oil to the global economy and outlines steps Congress can pursue to ensure the international competitiveness of America’s shale industry and reshape a volatile geopolitical order. 
Mills argues that low oil prices aren’t a sign of oil’s decline, but of the need to implement policy reforms that allow more domestic shale growth. If we can replicate the growth in shale production seen over the past decade, Mills predicts the economy will benefit from a second shale boom, and the geopolitical status quo will shift dramatically in America’s favor.
View the report below.




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