Dear Friends,
For those who are concerned about the long-term future of the U.S., this article is a game changer. It turns out that we will almost surely remain dominant in the 21st Century if we do the right things.
Why?
1. Within 5 years, the U.S. will be "well on its way to self-sufficiency in fuel and energy." Last year, the U.S. increased supply growth more than any other nation through the use of "hydraulic fracturing." This has made some of our largest oil fields hugely productive. Shale oil production could increase as much as ten times from 2009 to 2015. U.S. oil and gas production already meets 72% of our own needs, a huge increase from just 50% about ten years ago!
2. Chinese wage inflation has been 16% annually for 10 years. This, combined with problems in Chinese manufacturing concerning shipping costs, piracy of technology, and reliability problems, is already causing some factories to move back to the U.S. This trend is likely to accelerate, with some estimates reaching 3.2 million additional jobs by the middle of this decade.
3. Currency imbalances are creating huge problems for both Europe and China.
4. The U.S. is the only country with a population growing fast enough to actually have hope of paying off much of our debt. Both Europe and China will have massive challenges with rapidly aging populations.
Unfortunately, there will almost surely be huge economic pain for the next few years. Nevertheless, if we can elect politicians who will allow us to return to free enterprise, we will win in the long run!
Rich Collins
302-381-1610
P.S. Subsidized green energy, the favorite of many vote-buying politicians, will surely die an ugly death because of the rapidly expanding supplies of much cheaper oil and gas. The sooner they accept that, the less long term damage will be done to the economy from this source.
For those who are concerned about the long-term future of the U.S., this article is a game changer. It turns out that we will almost surely remain dominant in the 21st Century if we do the right things.
Why?
1. Within 5 years, the U.S. will be "well on its way to self-sufficiency in fuel and energy." Last year, the U.S. increased supply growth more than any other nation through the use of "hydraulic fracturing." This has made some of our largest oil fields hugely productive. Shale oil production could increase as much as ten times from 2009 to 2015. U.S. oil and gas production already meets 72% of our own needs, a huge increase from just 50% about ten years ago!
2. Chinese wage inflation has been 16% annually for 10 years. This, combined with problems in Chinese manufacturing concerning shipping costs, piracy of technology, and reliability problems, is already causing some factories to move back to the U.S. This trend is likely to accelerate, with some estimates reaching 3.2 million additional jobs by the middle of this decade.
3. Currency imbalances are creating huge problems for both Europe and China.
4. The U.S. is the only country with a population growing fast enough to actually have hope of paying off much of our debt. Both Europe and China will have massive challenges with rapidly aging populations.
Unfortunately, there will almost surely be huge economic pain for the next few years. Nevertheless, if we can elect politicians who will allow us to return to free enterprise, we will win in the long run!
Rich Collins
302-381-1610
P.S. Subsidized green energy, the favorite of many vote-buying politicians, will surely die an ugly death because of the rapidly expanding supplies of much cheaper oil and gas. The sooner they accept that, the less long term damage will be done to the economy from this source.
No comments:
Post a Comment