Home > Frac > The American Economy Needs to Sail Upstream

The American Economy Needs to Sail Upstream

December 6, 2011

When Japan attacked Pearl Harbor on Dec. 7th 1941, it was a preventative measure that they hoped would keep the United States out of their operations in the Pacific Theater. The damage and losses were terrible. The death total was 2,402 with injuries listed at 1282. Four battleships were sunk, 8 were damaged, and 180 U.S. Aircraft were destroyed.

The United States suffered an attack on its own soil and the people were reeling. The War had always been “over there” and we, as a nation, had not yet tasted the grim realities of WWII’s combat until that day.

The next day, Dec. 8th, 1941, President Roosevelt announced the attacks to the American people in his famous speech.

“Yesterday, December 7, 1941 – a date which will live in infamy. The United States of America was suddenly and deliberately attacked by naval and air forces of the Empire of Japan.”

The United States immediately declared War on Japan Dec. 8th, and declared war on Germany and Italy three days later.

Although the famous “sleeping giant” quote is attributed to Yamamoto, the citation and proof for that quote cannot be found. The quote that is written in his biography The Reluctant Admiral reads this way:

“A military man can scarcely pride himself on having ‘smitten a sleeping enemy’; it is more a matter of shame, simply, for the one smitten. I would rather you made your appraisal after seeing what the enemy does, since it is certain that, angered and outraged, he will soon launch a determined counterattack.”

The United States did launch a determined counterattack. The response was staggering and lines wrapped around the block at the enlistment offices. The size of the Marine Corps tripled by February 1942.

From 1942 to the end of the war, the US produced 20,169 light tanks, 67,428 medium tanks, 2,202 heavy tanks. They produced 273,882 planes, and 8,268 major Naval Vessels and 201 Submarines.

Factories churned out 12,292,000 rifles/carbines, 2,594,400 machine guns, and 101,700 mortars.

A lot of this war machine was crafted by women who had never seen the inside of a factory before.

The United States, as a whole, responded in unity against a common threat on multiple fronts. Young men were willing and did give their lives for the cause to the tune of 416,800.

The United States was capable of uniting for a singular cause. The folks at home did without and worked hard to support the boys “over there”. The boys “over there” fought and died and lost their friends, often boys incapable of shaving and under-aged, often the fathers of families, often star athletes and hometown heroes. Their deaths left bedrooms empty and clothing with their waning scent to those who would mourn their loss.

The United States, at that time, was willing to pay the ultimate cost for the good of the nation. We trusted our government to do well for us. We trusted our leadership to see us through. We were a United nation of Patriotic Americans.

I think that time is over although I pray that we see it return.

Currently, the greatest threat facing the American people is the debt that we operate under. It is a threat that can quite possibly undo the greatness of our nation. I liken it to poison. Left unchecked and untreated, it will kill us, regardless of our pedigree or history.

Most of us understand that our problem is both grave and financial. The truth is that we are going to have to do what it takes to get out of this hole in the ground.

Doing what it takes to get out of the financial hole that we are digging must include the Natural Gas industry. It must.

On the heels of learning that the Fed loaned $7.7 trillion to banks in 2008 (that is eleven times more than the insanely unpopular TARP bailout) at a rate of 0.01% only to receive those monies back at interest (to the tune of a 10 billion dollar profit for the banks) we’ve learned that this government agency is willing to do something completely unethical (like hide this fact from congress) to take care of those they feel control the financial stability of this country.

With a current unemployment rate of 8.6%, a current debt of over $15 trillion dollars, and 1,598,011 bankruptcies this year, the United States needs to take a long hard look at the the tools it has in the tool box that are capable of treating the self inflicted debt sickness in our country, especially when states who are capitalizing on our resources have low unemployment and are profitable to the Union.

The only shining light in all of the dismal financially unstable dark is found in our industry.

There is a job fair in the EagleFord Shale with over 2,000 jobs available. Enbridge Energy just invested $145 million in the Bakken in North Dakota. According to the Wall Street Journal, the entire Oil and Gas Emphasis could shift to the United States because of our present resources if we were only allowed to capitalize on them.

As reported by Bloomberg, the IHS estimates that by 2015, Shale Gas can add 870,000 US jobs and $118 Billion dollars to economic growth in the next four years. Although anti-fracturing advocates question the legitimacy of these estimates (and fail to cite that they are often responsible for retarding the growth of Shale Gas production) the Natural Gas Industry is one of the only industries regularly creating new jobs and incomes. It doesn’t need billions in guaranteed government loans like Solyndra and BrightSource. They can stand on their own two legs.

What I would like for the federal organizations in this country of ours to do is to stop acting like the people in this country have no brain.There is so much red tape that impedes the growth of our country and such a difference between what the people in the country want to happen and what federal agencies do.

I don’t understand why there is so much pressure about a need to disclose the contents of Hydraulic Fracturing fluids when the Fed doesn’t feel the need to disclose $7.7 trillion dollars worth of loans to banks in need of help because of poor financial practices.

To put this number in perspective, $7.7 trillion dollars is nearly twice the Federal Spending for all of 2011, including the current approximate $1.3 trillion dollar Federal Deficit.

The glut of Natural Gas that we possess and its potential to change the financial climate of this country is being reported by the majority of the major financial publications including the Wall Street Journal and Forbes. Why isn’t the Federal Government viewing this through the same lens that the financial experts use?

This country has never been so polarized in its history but there is one thing that I can tell you; regardless of your political leaning, there is a clear enemy in sight and that enemy is us. It is our poor financial practices, our poor governmental accountability.

We need to recognize that there is an enemy and unify on all fronts like the Greatest Generation did before us. We need to utilize the Natural Gas that we have to aid in the stabilization of our economy. We need to stop submitting to the requests of extremists who act like the time we live in is a vacuum.

It isn’t. Our economy is miserable. People are regularly losing their retirements, unemployment is rampant, many have seen the American Dream die in front of their eyes after having worked to achieve it their whole life.

Natural Gas is a port in the storm. Natural Gas is providing jobs and retirements. It is putting food on the table. It is giving those who thought they were going to lose everything peace of mind because of its ability to employ.

Large corporations like Shell are shifting their international oil emphasis to a state-side upstream emphasis. The companies who know where the money is are investing in this potential. The government needs to get out of the way of the people who still believe in the American Dream. The EPA has no business regulating Hydraulic Fracturing.

There is a line in the movie Gladiator in which Marcus Aurelius speaks to Maximus about the greatness that was Rome:

“There was once a dream that was Rome. You could only whisper it. Anything more than a whisper and it would vanish… it was so fragile.”

There are those of us who still dream about the potential of America. There are those of us who hope that the investment of the lives who have come before us will earn interest in the future of our country. Having a storied and heroic legacy does not promise a bright future; only when a country continues to act like a heroic country can it continue to bask in the warmth it creates.

At the foot of the Statue of Liberty lies a plaque. It says

“Give me your tired, your poor,
Your huddled masses yearning to breathe free,
The wretched refuse of your teeming shore.
Send these, the homeless, tempest-tost to me,
I lift my lamp beside the golden door!”

We can be great again, but not without Natural Gas.

I would like to think that the torch Lady Liberty holds in her hand burns Natural Gas.

This God-given resource is our ladder out of the well and into the sunlight.

Let’s see the day again.

870,000 jobs by 2015 would solve the entire unemployment problem in all of New York State (whose current unemployment number is 709,857) and still have the ability to employ another 160,143 people with average annual earnings of over seventy thousand dollars.

There is not another industry doing this. There is no other industry that can.

There is no feasible, successful economic plan that can’t include Natural Gas. Not one. Want light in the dark? Better be a Natural Gas lantern.

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