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Fracking Rescuing Middle Class!

Mathisworks – Getty Images

We could debate the alleged demise of the American middle class and wages that have slipped over the tenure of Barack Obama- but why? I mean there is truth to wages slipping.  And it’s true many families are struggling harder to make ends meet. We also have more people on food stamps and support programs- but it doesn’t need to stay this way much longer. Hope is on the way in the form of American drilling and energy technology.

There is an American renaissance on the horizon- an explosion of economic activity fueled by the American energy revolution. Fracking and horizontal drilling have propelled the US into the world leader in natural gas production and soon the U.S. will also lead the world in oil production.

Now if the liberals and environmental terrorists, lead by the likes of Greenpeace and other anti- free market socialists, can be kept at bay we will soon see America rising to unprecedented heights. Keeping these anti- capitalists in check however is vital to our continued success as a nation.

Make no mistake lower oil prices and a strong dollar are good for us. No make that very good for all of us. By now we should all know America with new technologies has created a flood of new shale-oil and natural-gas production that has overwhelmed world markets and driven prices down by almost 40 percent. Oil closed near $57 a barrel to end the week and the national average gasoline price finished at $2.60. I personally paid $2.47 today at the pump to fill my Suburban and was thrilled. I mean consider this, compared to $4.10 a gallon that I paid on the high end of prices, today I saved over $44! Do that a few times a month or maybe 40 times a year and the savings becomes incredible- almost $1800. Talk about an economic boom- I mean that’s just one car in the driveway. When you start multiplying the savings across two, three or four cars then you begin to feel individuals and families saying ‘thank you.’

No matter what the naysayers are trying to sell, the new energy reality is unambiguously good for the U.S. and global economies. There could be some isolated issues where it is not good news but the overwhelming impact is positive.

In fact, the U.S. economy is already getting better. Recent numbers on jobs, retail sales, consumer confidence, small-business confidence  and business investment point to a 3 percent growth rate rather than the tepid 2 percent pace of the prior five years. And it’s likely that oil prices will stay low or drop a bit lower.

Hats off to fracking and the American energy revolution that is riding in to save the economy and the American middle class!

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