A Shrinking U.S. Trade Deficit—Brought to You by Fracking

Almost entirely on the back of stronger exports, last week the U.S. Commerce Department revised upward its economic growth estimate for the second quarter, from 1.7 to 2.5 percent. Exports from April to June grew at their fastest pace in two years, pushing down the U.S. trade deficit to 2.7 percent of gross domestic product. That’s less than half what it was at its peak of around 6 percent of GDP in late 2005.



An American Energy Revolution

In Texas these days, there’s a feeling of absolute and unwavering confidence in the concept of an American energy revolution. From the depths of reserves to the richness of the energy, an incredible transformation is taking place.



Booming oil production boosted GDP estimate, White House advisers say

Two of President Obama’s top economic advisers are crediting increasing petroleum production with the rosier estimate for second quarter economic performance announced this week.



Colorado economy would benefit from liquid natural gas exports, economist says

Colorado doesn't have a port, but the state's small businesses have a stake in whether the United States boosts the export of liquified natural gas to other countries, according to the U.S. Small Business & Entrepreneurship Council.



Natural gas a bright spot for La. jobs

Development of our North American energy resources is fueling a manufacturing resurgence that could propel the economy out of its long-standing economic malaise. According to a study by PriceWaterhouseCoopers, direct investments in the U.S. manufacturing industry could create up to one million new jobs by 2025. Regrettably, the Obama Administration is imposing new regulations that only slow the economic recovery.



The Geography of Jobs: Smart Policies Are Good, but Oil Is Better

If you want to understand how to create jobs -- not just a few at a time, but hundreds of thousands at once -- look to Texas and North Dakota.



The global impact of U.S. oil and gas development

Hydraulic fracturing ("fracking") and horizontal drilling are allowing the United States to produce more domestic oil and gas, bringing closer the once unthinkable prospect of America being a net energy exporter. But what are the international implications of America's newfound energy bounty on U.S. foreign policy?



Energy industry eager to attract more skilled trades workers

With all the new projects planned along the Gulf Coast, the energy industry predicts it will need 500,000 new workers between now and 2020.



Time for Keystone, please!

There's no good reason to further delay presidential approval of Keystone.



Fracking Our Way to Higher Incomes

If you're intrigued by the extraordinary success that states like North Dakota, Texas and Oklahoma are enjoying from the energy boom, then some summer reading might be in order. I have to warn you though; it's not light and breezy. Download a copy of "The Economic Effects of Hydrofracturing on Local Economies: A Comparison of New York & Pennsylvania," written by Diana Furchtgott-Roth, a senior fellow with the Manhattan Institute for Policy Research, and Andrew Gray.

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