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Economic recovery grows from private sector, not government

The Washington Times | December 28, 2014 | by Stephen Moore

Production costs fall when energy costs do, so the supply of American-produced, non-oil and non-gas products, such as manufactured goods, rise when gas is cheap. With prices lower now in this quarter, the good news story rolls on. Thank you, fracking. Read more here.

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Driving U.S. rebound: the fracking loathed by liberals

UT San Diego | December 27, 2014 | by The Editorial Board

For starters, embracing the phenomenon that economists say is more responsible for the U.S. rebound than any other factor: the fracking revolution. The 70-year-old technique of using underground water cannons to free up energy supplies has gotten far more efficient in recent years. This has sharply increased U.S. oil and natural gas production, driving down the cost of energy to the point where U.S. manufacturing is making a huge comeback just a few years after it was left for dead. Given that energy production and manufacturing are two prime sources of middle-class jobs that don’t require college degrees, this is...

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Oil’s Swift Fall Raises Fortunes of U.S. Abroad

New York Times | December 24, 2014 | by Andrew Higgins

A plunge in oil prices has sent tremors through the global political and economic order, setting off an abrupt shift in fortunes that has bolstered the interests of the United States and pushed several big oil-exporting nations — particularly those hostile to the West, like Russia, Iran and Venezuela — to the brink of financial crisis. ...The price drop, said Edward N. Luttwak, a longtime Pentagon adviser and author of several books on geopolitical and economic strategy, “is knocking down America’s principal opponents without us even trying.” For Iran, which is estimated to be losing $1 billion a month because...

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Give fracking some credit

The Sacramento Bee | December 18, 2014 | by Eric Eisenhammer

Thanks in large part to fracking, an energy revolution is underway in America. Increased domestic production has reduced our reliance on oil imported from overseas. As your editorial pointed out, this has weakened Vladimir Putin and could reduce tensions in Ukraine. It’s a shame that some extremists want to put an end to our energy independence by pushing for bans on hydraulic fracturing. Misguided hydraulic fracturing bans will only drive up prices at the pump and give foreign countries more control over our energy future. Read more here.

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NRDC’s “New” Report Just a Rehash of Old (and Discredited) Studies

Energy In Depth | December 17, 2014 | by Katie Brown

There’s a good reason that groups like NRDC have recently taken to rehashing old, discredited reports: the scientific evidence is so strongly against them, and they have no new evidence to support their claims, that they have to resort to repackaging old material in an attempt to garner the desired headlines purporting harm.  Given their track record, it’s not surprising that very few outlets even noticed. Read more here.

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Eight countries that win and lose big from oil plunge

USA Today | December 16, 2014 | by Kim Hjelmgaard

USA - Low gasoline prices for the world's largest user of oil mean more consumer spending for everything else and, thus, faster economic growth. Gas prices — the national average is down to $2.54, according to the Fuel Gauge Report — are the lowest in five years. Read more here.

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Lifting the U.S. ban on oil exports would send OPEC a message

Los Angeles Times | December 16, 2014 | by Chris Faulkner

OPEC has good reason to feel threatened. The U.S oil business is experiencing an unprecedented production boom thanks to hydraulic fracturing, or fracking. According to the Energy Information Administration, U.S. oil production has risen to 9.08 million barrels a day — its highest level in more than 30 years. The United States has already overtaken Saudi Arabia, OPEC's dominant member, as the world's largest producer of petroleum liquids — which includes natural gas — according to the International Energy Agency. In the last three years, oil and gas production has grown faster here than in any other country in history....

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Gas price decline has a side benefit

Sacramento Bee | December 16, 2014 | by The Editorial Board

And in an added bonus, plummeting oil prices are putting a big hurt on Vladimir Putin – and could curb his aggression in Ukraine and elsewhere.  Oil was trading for $100-plus a barrel when Russia first sent soldiers into Ukraine in March. Tuesday, a global benchmark crude traded at under $60 a barrel for the first time in five years.  Russia’s economy relies heavily on oil revenue and is already hurting under sanctions from the United States and Europe. The ruble lost 10 percent of its value against the dollar just on Monday. Tuesday, the Bank of Russia raised interest rates...

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Editorial: Get the U.S. back in the oil-exporting game

Orange County Register | December 16, 2014 | by The Editorial Board

Four decades later, the U.S. has largely weaned itself from dependence on foreign oil, with the U.S. Energy Information Administration projecting that crude imports will account for only one-fifth of U.S. consumption in 2015.  That turnabout is almost entirely attributable to America’s black gold rush – domestic crude production has increased from 5 million barrels a day in 2008 to a projected 9.4 million barrels a day in 2015. This game-changing development was brought about by advances in horizontal drilling and hydraulic fracturing. Read more here.

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CBO: U.S. Shale Revolution a Boon to Our Economy

Energy In Depth | December 15, 2014 | by Varun Krovi

The benefits of shale development resonate across the entire economy and have led to an increase in government revenue and lowered energy prices for consumers and businesses alike. Shale development is also bringing about a change in the manufacturing sector – moving jobs from overseas back to the United States. Read more here.

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Californians for Energy Independence is a coalition that supports state and local policies that allow for continued domestic energy production and opposes those policies – such as oil taxes and energy bans—that would hinder production and increase reliance on foreign oil.

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