By Rusty Weiss on October 25, 2012
In a weekly address to the nation back in March, President Obama addressed the crippling effect of gas prices on the economy, citing the creation of 'thousands' of American jobs through his renewable energy plan, and stating simply, "we can't drill our way out of this problem."
But a new report from IHS threatens that claim, and makes the prospect of 'thousands' of American jobs look paltry compared to the estimated 1.7 million created this year by implementing the safe development of unconventional means to extract oil and gas in the United States. The report also estimates that the number of jobs could grow to 3 million by the end of the decade. So, can we drill our way to more jobs and economic prosperity? According to IHS - Yes we can! The key lies in the aforementioned unconventional drilling techniques - such as horizontal drilling or the unnecessarily maligned hydraulic fracturing techniques - which unlock natural gas and oil trapped in the pores of dense rock formations. To Read More….