November 26, 2011

THE NON-GREEN JOBS BOOM: “Forget ‘clean energy.’ Oil and gas are boosting U.S. employment. . . . The ironies here are richer than the shale deposits in North Dakota’s Bakken formation. While Washington has tried to force-feed renewable energy with tens of billions in special subsidies, oil and gas production has boomed thanks to private investment. And while renewable technology breakthroughs never seem to arrive, horizontal drilling and hydraulic fracturing have revolutionized oil and gas extraction—with no Energy Department loan guarantees needed. The oil and gas rush has led to a jobs boom. North Dakota has the nation’s lowest jobless rate, at 3.5%, and the state now has some 200 rigs pumping 440,000 barrels of oil a day, four times the amount in 2006. The state reports more than 16,000 current job openings, and places like Williston have become meccas for workers seeking jobs that often pay more than $100,000 a year.”

Yeah, but these are mostly jobs for burly men. Those are disfavored by this administration.

UPDATE: Walter Russell Mead: The Forgotten Look of Prosperity. “The New York Times editorial page is doing its level best to kill any chance of American recovery and prosperity by crusading against anything anywhere that might help our energy woes, but sometimes its news pages inadvertently remind us that prosperity and energy development are closely connected. . . . This is what economic growth looks like. It is sudden, disruptive, often inconvenient. It messes with the status quo. New stuff gets built and not all of it looks like the Cloisters. All kinds of rough and hungry men flock to it; they sometimes misbehave. They spit on the ground, say unpleasant things about women, and generally fail to meet the behavioral standards of the Upper West Side. Decline is so much more decorous.”

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