by Plantagenet » Wed 16 Jan 2013, 12:50:51
$this->bbcode_second_pass_quote('Tanada', ' ')When the USA hit its 2008 stumble so did the EU and Asia. The EU went down even worse than the USA and is still worse off four years later, Asia kept going for a while but it can only coast for a little while longer if the USA doesn't start mass consumption again soon.
Does anyone think the USA is going back into mass consumer mode soon?
Depends what happens in the energy markets.
The parts of the USA that are energy producers due to traditional oil fields and new frakking (North Dakota, Texas, Oklahoma, Alaska, parts of Ohio, Pennsylvania etc.) are doing pretty darn good. Its boom times for sure in North Dakota right now.
California is talking about allowing frakking in the Monterey shale, and how that could bring 15 billion dollars of new economic activity to the state. Similar things could happen in New York if that state would ever open up to frakking.
The Financial Times just had a story about the debate over frakking in Europe. England is opening up to frakking, and there is more potential for shale oil and gas in Poland, France and other areas.
Shell is very optimistic about frakking in China----there was just a story about it in the Wall Street journal this morning featuring an interview with the Royal Dutch Shell CEO.
Things look pretty dark for the global economy right now, but there are definitely some bright spots to be seen in areas where new drilling, frakking, and energy development is going on, with potential knock-on effects for manufacturing etc. in places like the US midwest where cheap NG is being increasingly used for electrical power production
