US energy production saves the day

by Chris Becker

There’s something to be said for the notion that what is saving the US’s proverbial bacon at the moment is not monetary policy from the Fed but its huge internal oil/gas boom.

The last couple of months have seen domestic production in the US almost equalling the powerhouses of Saudi Arabia and Russia, and is likely to exceed the former in the months ahead. This “revolution” goes beyond providing the domestic economy with lower energy prices, but has long term ramifications across the globe.