Explaining Southern California's economy

The DeBord Report on "America Now with Andy Dean"

Listen in to my latest appearance on "America Now with Andy Dean." We have a lively conversation about the Greek debt negotiations, U.S. energy policy, and what in the world we should do about the U.S. Postal Service, which is probably going to run out of money by October. Andy is his usual take-no-prisoners self when it comes to things like European socialism, but I make a decent point or two about how we need to look at our national energy future A LOT differently as the discovery and extraction of new domestic resources threatens to turn us into the world's largest energy producer by 2020.

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Wait! The U.S. could be the worlds largest energy producer by 2020?

Keith Srakocic/AP

A rig in Washington, Pa., drills into shale rock to extract natural gas.

Indeed it could. This is from Bloomberg:

Domestic oil output is the highest in eight years. The U.S. is producing so much natural gas that, where the government warned four years ago of a critical need to boost imports, it now may approve an export terminal. Methanex Corp., the world’s biggest methanol maker, said it will dismantle a factory in Chile and reassemble it in Louisiana to take advantage of low natural gas prices. And higher mileage standards and federally mandated ethanol use, along with slow economic growth, have curbed demand.

[...]

The transformation, which could see the country become the world’s top energy producer by 2020, has implications for the economy and national security -- boosting household incomes, jobs and government revenue; cutting the trade deficit; enhancing manufacturers’ competitiveness; and allowing greater flexibility in dealing with unrest in the Middle East.

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