Wednesday, May 16, 2012

Pennsylvania Lookin' Good -- Nothing To Do With The Bakken -- At Least Not Directly

Link here
Now this once-sleepy chunk of north-central Pennsylvania is a star on the map of an emerging national energy rush. Six hotels are new or being built, and about 100 companies have moved to town, sometimes so fast that the head of the local Chamber of Commerce has told executives wanting guided tours to wait. [Sounds like Williston, North Dakota except our motel/hotel count is significantly higher.]

"I've said, 'Look sir, get in line,'" says Vince Matteo, chief executive of the Williamsport/Lycoming chamber. "Now I know people in their 20s with high school (diplomas) making $120,000 a year." [Sounds like Williston, North Dakota, or did I already say that?]

Much of Wall Street and Washington is seized by the hope that the U.S.'s energy future will be as bright as Williamsport's. As Americans heave a sigh of relief at gasoline prices falling back from near $4 a gallon, big new discoveries of domestic oil and natural gas hold the promise of more substantial benefits for the U.S. economy for decades to come -- even the possibility of energy independence.
Unless I'm missing something it sure sounds like the Pennsylvania folks are happy with how things are developing. Especially in light of the recent Dimock-EPA findings.

I really find it hard to believe that any presidential nominee is going to be able to speak out against developing America's rich resource base. But I suppose if one is audacious enough ...

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