The Bakken isn't mentioned by name, but:
"That's making U.S. companies that used to be at a price disadvantage
now uniquely positioned to win contracts they never won in the past --
or haven't for a while," he said. "Everyone talks about what's going on
in North Dakota, but it's filtering down now to conventional factories
throughout America."
A big "thank you" to a reader for sending me the link to
this CNBC story.
Smith's hiring was just one of thousands of openings created indirectly
by a new boom in domestic oil and natural gas drilling – a bounty so
rich that it has even caught energy industry insiders by surprise. In
part 2 of our four-part "Power Shift" special report, we examine how the
explosion in drilling in places like North Dakota and West Texas is
spreading through the general economy – despite controversy over the
potential environmental impact of the new industry practices.
This was part 1; I can't remember if I posted it earlier:
As a result, U.S. oil and gas production is growing so rapidly - and
demand dropping so quickly - that in just five years the U.S. may no
longer need to import oil from any source but Canada, according to Citigroup.
And the International Energy Agency projects the U.S. could leapfrog
Saudi Arabia and Russia to become the world’s biggest oil producer by
2020. IEA sees the U.S. becoming a net oil exporter by 2030.
I doubt regular readers of the MDW will find anything particularly new.
