first part of article...
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It's very hard to go out and make big investments to take advantage of the shale energy if we don't know if it's always going to be there, what price it's going to be there, whether the country's going to allow it to be exported, or whether it's going to go and affect subsidized U.S. manufacturing. Companies that grow create wealth. This, in turn, allows people to have jobs that create more growth and more wealth. It's a virtuous cycle.
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... end of article
Shale energy is now collapsing. Over supply and such, and way too much investment has once again, collapsed an entire industry, all while contaminating water supplies across the country, collapsing prices for oil shale derivatives, products derived from shale oil, and throwing literally 10s of thousands out of work. Some virtuous cycle, eh? Companies that grow create wealth, eh? No, it creates wealth only w/ those who sell stock initially, who lease/sell the gas/oil/shale properties, and they're all long gone. What's left are those whose farms, ranches, etc. contaminated w/ the byproducts of shale production, lost jobs, lost or stranded infrastructure of towns that beefed up to rent, feed, etc. shale field workers and their families (all gone (jobs too)), and the states are all left too w/ huge unemployment lines, a huge food stamp demand, lower property taxes, etc. and just a plain big mess.
Idiot, Mr. Blankfein. There is a reason now why we have laws on the books (are not enforced) to protect the environment, for the industry will be long gone and the industry is all collapsed and gone (owners too). So much for creating growth and wealth.
You don't what you're talking about ... again, idiot, Mr. Blankfein.
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