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From Scarcity to Abundance: How the Energy Boom is Transforming America’s Economy Presentation to Cincinnati Economics Organization Bernard L. Weinstein,

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Presentation on theme: "From Scarcity to Abundance: How the Energy Boom is Transforming America’s Economy Presentation to Cincinnati Economics Organization Bernard L. Weinstein,"— Presentation transcript:

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

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9 Source: International Energy Agency

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13 LUXURY HOUSING IN THE BAKKEN: $2500 PER MONTH

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15 MACONDO EXPLOSION AND OIL SPILL

16 Offshore Potentially Recoverable Federal Oil and Natural Gas Resources

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19 Top Gas Exporting Countries, 2011

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21 Cove Point, Maryland LNG Facility to Export Marcellus Gas

22 PROTESTING COVE POINT

23 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

24 Gross domestic product Source: Commerce Department Real Economic Growth Q 2014: 0.1%

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

26 Monthly change, in thousands Source: Labor Department April ’14: 288, Nonfarm Payrolls

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42 THE “PETROSTATE” OF AMERICA

43 WE’RE NUMBER 1!


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