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American Made: Why Making Things Will Return Us to Greatness by Dan Dimicco
2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, 3D printing, Affordable Care Act / Obamacare, American energy revolution, American Society of Civil Engineers: Report Card, Bakken shale, barriers to entry, Bernie Madoff, carbon footprint, clean water, crony capitalism, currency manipulation / currency intervention, David Ricardo: comparative advantage, decarbonisation, fear of failure, full employment, Google Glasses, hydraulic fracturing, invisible hand, job automation, knowledge economy, laissez-faire capitalism, Loma Prieta earthquake, manufacturing employment, oil shale / tar sands, Ponzi scheme, profit motive, Report Card for America’s Infrastructure, Ronald Reagan, Silicon Valley, smart grid, smart meter, sovereign wealth fund, The Wealth of Nations by Adam Smith, too big to fail, uranium enrichment, Washington Consensus, Works Progress Administration
By 2021, economists forecast that Eagle Ford shale will generate $62.1 billion in output and more than 82,000 jobs.19 States that produce little or no gas and oil are beginning to see some benefits of the boom. Businesses in New York, Illinois, and South Dakota are providing important goods and services for the oil and gas supply chain. But perhaps more surprising, the one interest that has benefited least from the new oil and gas boom has been Big Oil. According to Forbes, the new American energy revolution is largely the work of about 18,000 small- and medium-sized companies.20 I know it isn’t always obvious, but the entrepreneurial spirit still lives in the United States. It’s helpful to contrast the work of tens of thousands of companies large and small, developing new and more efficient processes and better products, with the top-down efforts by almost all of the world’s governments to combat global warming, which we’re now calling climate change.
American energy revolution, Berlin Wall, British Empire, Carmen Reinhart, crony capitalism, deglobalization, energy security, Exxon Valdez, full employment, global supply chain, hiring and firing, hydraulic fracturing, Kenneth Rogoff, manufacturing employment, oil shale / tar sands, oil shock, peak oil, RAND corporation, Ronald Reagan, Silicon Valley, South China Sea
T he big wild cards facing the future of U.S. energy—peak oil, major war, deglobalization, a stalled economic recovery, and surprisingly high climate sensitivity—all have something in common: they largely reinforce the benefits of the changes currently sweeping the American energy scene. There are modest exceptions, like somewhat greater climate risks from new oil production if climate sensitivity turns out to be surprisingly large, and bigger economic risks from some new environmental rules meant to foster efficiency and alternatives if economic growth continues to falter. But the broader lesson remains: there are big opportunities to be gained from both of the American energy revolutions that are under way. 8 T HE EN ER G Y O PPORTU N I TY The United States is in the throes of two unfolding energy revolutions. Yet few are celebrating both. A Gallup poll conducted in March 2012 asked Americans a simple question: Should the United States focus on expanding fossil-fuel supplies, or on developing alternative energy sources?1 Democrats strongly favored alternatives; Republicans came down decisively on the side of fossil fuels.
3D printing, Airbnb, American energy revolution, autonomous vehicles, Bakken shale, barriers to entry, Bernie Sanders, BRICs, call centre, Capital in the Twenty-First Century by Thomas Piketty, Clayton Christensen, cloud computing, collective bargaining, computer age, dark matter, David Ricardo: comparative advantage, deindustrialization, dematerialisation, Deng Xiaoping, deskilling, Dissolution of the Soviet Union, Donald Trump, Downton Abbey, Edward Glaeser, Erik Brynjolfsson, eurozone crisis, everywhere but in the productivity statistics, falling living standards, first square of the chessboard, first square of the chessboard / second half of the chessboard, Ford paid five dollars a day, Francis Fukuyama: the end of history, future of work, gig economy, global supply chain, global value chain, hydraulic fracturing, income inequality, indoor plumbing, industrial robot, interchangeable parts, Internet of things, inventory management, invisible hand, Jacquard loom, James Watt: steam engine, Jeff Bezos, John Maynard Keynes: Economic Possibilities for our Grandchildren, Joseph-Marie Jacquard, knowledge economy, low skilled workers, lump of labour, Lyft, manufacturing employment, means of production, new economy, performance metric, pets.com, price mechanism, quantitative easing, Ray Kurzweil, rent-seeking, reshoring, rising living standards, Robert Gordon, Ronald Coase, savings glut, Second Machine Age, secular stagnation, self-driving car, sharing economy, Silicon Valley, single-payer health, software is eating the world, supply-chain management, supply-chain management software, TaskRabbit, The Nature of the Firm, The Spirit Level, The Wealth of Nations by Adam Smith, Thomas Malthus, trade liberalization, transaction costs, Tyler Cowen: Great Stagnation, Uber and Lyft, Uber for X, very high income, working-age population
At the Mississippi River, the great tangle of lights of the eastern cities gives way to the dark of the prairie. But there on the northern Plains, west of Minneapolis and north of Denver, where nothing but emptiness ought to be, is a blaze of light as big as Chicago. What has taken over the North Dakota countryside is not a massive new supercity but the fracking wells of the Bakken shale, one manifestation of an extraordinary American energy revolution. The hundreds of wells that dot the land are spot-lit at night, and are occasionally ablaze with light when excess natural gas from the wells is burnt off. Of the new work that resembles the mass employment of the industrial past, jobs in fracking are probably the closest analogue to industrial-era factory jobs. Hydraulic fracturing (fracking) has, in fact, been around as a technique since the middle of the twentieth century.
accounting loophole / creative accounting, American energy revolution, Bakken shale, Bernie Sanders, Buckminster Fuller, clean water, corporate governance, energy security, energy transition, hydraulic fracturing, margin call, market fundamentalism, Mason jar, North Sea oil, oil shale / tar sands, oil shock, peak oil, Project Plowshare, risk tolerance, Ronald Reagan, shareholder value, Silicon Valley, Upton Sinclair
The Simon & Schuster Speakers Bureau can bring authors to your live event. For more information or to book an event, contact the Simon & Schuster Speakers Bureau at 1-866-248-3049 or visit our website at www.simonspeakers.com. Interior design by Ruth Lee-Mui Map by Paul J. Pugliese Jacket art and design by FDT Design Library of Congress Cataloging-in-Publication Data Gold, Russell. The boom : how fracking ignited the American energy revolution and changed the world / Russell Gold. p. cm 1. Petroleum industry and trade—Environmental aspects—United States. 2. Oil wells—Hydraulic fracturing. 3. Energy policy—United States. 4. Energy consumption—United States. I. Title. HD9565.G65 2014 333.8' 230973—dc23 2013028446 ISBN 978-1-4516-9228-0 ISBN 978-1-4516-9230-3 (ebook)
The Frackers: The Outrageous Inside Story of the New Billionaire Wildcatters by Gregory Zuckerman
American energy revolution, Asian financial crisis, Bakken shale, Bernie Sanders, Buckminster Fuller, corporate governance, credit crunch, energy security, Exxon Valdez, housing crisis, hydraulic fracturing, LNG terminal, margin call, Maui Hawaii, North Sea oil, oil rush, oil shale / tar sands, oil shock, peak oil, Peter Thiel, reshoring, self-driving car, Silicon Valley, sovereign wealth fund, Steve Jobs, urban decay
By the next day, it was at almost $107, up about 10 percent in a couple of days, putting the company’s market value at $27 billion, up 80 percent in one year. Papa’s announcement did more than confirm EOG’s ascendance in the energy world. It was proof that the Bakken wasn’t a freak, one-off formation and fresh evidence that the country was beginning to pump enough oil and natural gas from shale to shake up the world’s energy order. By then, the big boys of the oil and gas world had taken belated notice of the American energy revolution, one that carried the possibility of American independence, this time from foreign oil. Now the giants had to get in, before it was too late. In 2011 and 2012, London’s BP, Norway’s Statoil ASA, and France’s Total SA each spent billions of dollars for acquisitions, interests, and joint ventures in shale formations in Pennsylvania, Oklahoma, Texas, Arkansas, and elsewhere. So did the China National Offshore Oil Corporation, Italy’s Eni, and Australian energy conglomerate BHP Billiton.
Breakout Nations: In Pursuit of the Next Economic Miracles by Ruchir Sharma
3D printing, affirmative action, Albert Einstein, American energy revolution, anti-communist, Asian financial crisis, banking crisis, Berlin Wall, BRICs, British Empire, business climate, business process, business process outsourcing, call centre, capital controls, Carmen Reinhart, central bank independence, centre right, cloud computing, collective bargaining, colonial rule, corporate governance, crony capitalism, deindustrialization, demographic dividend, Deng Xiaoping, eurozone crisis, Gini coefficient, global supply chain, housing crisis, income inequality, indoor plumbing, inflation targeting, informal economy, Kenneth Rogoff, knowledge economy, labor-force participation, labour market flexibility, land reform, M-Pesa, Mahatma Gandhi, market bubble, megacity, Mexican peso crisis / tequila crisis, new economy, oil shale / tar sands, oil shock, open economy, Peter Thiel, planetary scale, quantitative easing, reserve currency, Robert Gordon, Shenzhen was a fishing village, Silicon Valley, software is eating the world, sovereign wealth fund, The Great Moderation, Thomas L Friedman, trade liberalization, Watson beat the top human players on Jeopardy!, working-age population
The explosive pace of shale gas development in the United States has also given it a huge lead in building the basic infrastructure and cultivating experienced talent: there are now 425 gas rigs drilling on U.S. lands, compared to about 30 in Europe. Fracking technology took off in the United States because it took advantage of the country’s long-standing strengths, including strong property rights and ready financing for promising entrepreneurial ventures. At its core, the American energy revolution is a technology revolution. The Technology Edge Today, an interesting debate is under way over whether the digital technology revolution is really a big deal in terms of improving U.S. productivity. Leading skeptics about America’s productivity boom, such as Northwestern University economist Robert Gordon, say the computer and the Internet, even when rendered mobile in handheld devices, do less to raise productivity than inventions from previous technology revolutions—particularly the emergence in the late nineteenth century of electricity, the combustion engine, and indoor plumbing.