Another Renaissance in America

by Laura Ehrenberg-Chesler on June 29, 2012

in Energy,manufacturing,United States of America

We have posted a number blogs about the renaissance of American manufacturing, and why a good deal of manufacturing done overseas will eventually move back stateside. This morning in the Wall

Street Jounal, there was an article about the comeback of U.S. energy production, after years of believing that it was in permanent decline. North Dakota went from being a minor producer to surpassing Alaska in March in petroleum output thanks to the Bakken Shale, which is being developed through fracking. Now it is only second to Texas in oil production. The Bakken, as well as Texas’ booming Eagle Ford Shale and the deep-water U.S. Gulf of Mexico, helped average daily U.S. oil production rise 6% between October 2011 and March 2012, topping six million barrels a day for the first time since 1998, the EIA said this month. “U.S. oil production was for nearly 40 years in total decline, and that decline was never supposed to end,” says Jim Burkhard, an analyst with IHS CERA. “This is a major pivot point.” It pays to be an optimist, and we look forward to seeing an energy independent America.

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