Trump highlights benefits of shale to U.S. economy and the environment
15 years ago, North America has some of the highest Natural Gas prices on Earth. It was destined to become the El Dorado of all LG importers. No more. Today, Henry Hub is a trademark for cheap and bountiful gas. But there is more. Before shale, the US as a location for new production of just about anything was extremely unattractive. Energy cost was high, labor cost was high and compliance cost was high. Its only attraction was that the market was close, but ith cheap transport this mattered very little. Today, energy is the cheapest and for China it’s expensive, labor is still expensive but robotization helps and Chinas labor costs a lot more now and compliance is tough as well but China’s indirect cost of theft, corruption and general clunkiness is a serious drag. If you need a lot of energy, you might want to consider the US as a location. Shale brought jobs and money back.
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