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From Scarcity to Abundance: How the Energy Boom is Transforming America’s Economy

From Scarcity to Abundance: How the Energy Boom is Transforming America’s Economy. Presentation to Cincinnati Economics Organization Bernard L. Weinstein, Ph.D. Associate Director, Maguire Energy Institute Cox School of Business Southern Methodist University

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From Scarcity to Abundance: How the Energy Boom is Transforming America’s Economy

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  1. From Scarcity to Abundance: How the Energy Boom is Transforming America’s Economy Presentation to Cincinnati Economics Organization Bernard L. Weinstein, Ph.D. Associate Director, Maguire Energy Institute Cox School of Business Southern Methodist University Dallas, Texas May 14, 2014

  2. NEW BOOM IN THE OIL PATCH

  3. TYPICAL FRACKING PAD SITE IN PENNSYLVANIA

  4. Source: International Energy Agency

  5. LUXURY HOUSING IN THE BAKKEN: $2500 PER MONTH

  6. MACONDO EXPLOSION AND OIL SPILL

  7. Offshore Potentially Recoverable Federal Oil and Natural Gas Resources

  8. Top Gas Exporting Countries, 2011

  9. Cove Point, Maryland LNG Facility to Export Marcellus Gas

  10. PROTESTING COVE POINT

  11. CURRENT LEGISLATIVE AND REGULATORY RESTRICTIONS ON ENERGY INVESTMENT • Keystone XL pipeline • Restrictions on oil and natural gas exports • Limitations on drilling offshore and on federal lands • Renewal fuels standard (ethanol mandate) • Cross-state air pollution rule and utility MACT • EPA greenhouse gas limits for power plants • Proposed fracking regulations from EPA and DOI

  12. Real Economic Growth 1Q 2014: 0.1% Gross domestic product 2010 2011 2012 2013 2014 Source: Commerce Department

  13. U. S. Jobless Rate In percent, seasonally adjusted: April ‘14: 6.3% 2013 2014 Source: U.S. Department of Labor

  14. Nonfarm Payrolls April ’14: 288,000 Monthly change, in thousands 2012 2013 2014 Source: Labor Department

  15. THE “PETROSTATE” OF AMERICA

  16. WE’RE NUMBER 1!

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