“The Shale Energy Revolution”

http://blog.yardeni.com/2012/05/energy-costs-reshoring-in-usa.html

Last Thursday, Reuters reported: “Vast reserves of natural gas and oil unlocked from underground shale deposits have slashed the price of U.S. natural gas to a fraction of costs in Europe and Asia, making it some of the cheapest energy in the world. That is cutting production costs at U.S. factories, making 'Made in America' a more attractive option and driving investment in everything from foundries to chemical plants. The shale energy revolution could also turn the United States into a net exporter of many fuels in little more than a decade, transforming energy from the economy's Achilles' heel to a source of strength.”

If environmental concerns raised by new drilling techniques don’t lead to regulations that snuff out the boom, America will become a net energy exporter in just over a decade. Truck stops around the nation are adding tanks of LNG because it is substantially cheaper than diesel. Trucks transport roughly three-quarters of American freight, so lower transportation costs could provide a big boost to the economy. The resulting boom could add between a half percentage point and a full percentage point to annual real GDP growth over the next 10 to 15 years.