Thursday, January 26, 2012

Shale Gas Saves Consumers Billions

Private industry trumps government bailouts, handouts, subsidies and central planning every time.  The abundance of natural gas now being produced through the innovative combination of "horizontal" drilling and hydraulic fracturing is creating a savings of over ONE HUNDRED BILLION DOLLARS to U.S. consumers.  This is money in your pocket to be spent on other  products and services.  It is a direct boost to the economy, and it is not some kind of artificial government stimulus using taxpayer dollars.  It is the real deal, not the usual hot air and empty promises of "green energy" coming from Washington.

To all of you working in the industry of finding, producing and distributing this gas, I salute and congratulate you.  Everyone in this country should know what a fine job you have done.  Certainly other countries all over the world are taking notice.  While I just saw where even former President Clinton is heaping praise on shale gas.  Imagine that.

Shale Gas $100 Billion Savings to U.S. Exceed Tax Cuts: Energy

January 26, 2012, 9:48 AM EST

By Mark Chediak

Jan. 26 (Bloomberg) -- Natural gas prices that slumped to a 10-year low this month could save U.S. consumers $16.5 billion on home energy bills over the course of a year, according to a senior economist at the U.S. Federal Reserve.

U.S. households might see total savings from lower gas prices of as much as $113 billion a year through 2015, including tack-on effects such as lower product prices and higher wages generated by cheaper fuel, according to energy industry consultants IHS Inc.

The projected savings is “an unbelievable amount of money,” said Greg Ebel, chief executive of Spectra Energy Corp., during a Jan. 17 interview. “That’s better than any tax cut you’ve seen out there, better than any government handout.”

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