Advances in energy technology are transforming U.S. energy supply. Natural gas production will be a record in 2012. Oil output is at its highest level since 1999. In March of this year, Citgroup reported that an American “reindustrialization” could add as many as 3.6 million jobs by 2020 and increase the gross domestic product by as much as 3 percent. The economic implications of these changes are slowly beginning to be understood.
Source: Bloomberg, America’s Energy Seen Adding 3.6 Million Jobs Along With 3% GDP, August 12, 2012.