CNBC reported “There are a lot of rigs being parked. Someone’s got to sit on them 24 hours a day.”
Is your town in a fracking BUST phase? Look out for those unemployed frack worker vandals. “Workers and subcontractors who have suddenly been left with no income have sometimes retaliated by stealing or damaging equipment, from well caps to bulldozers, he (Clifton) said.”Pic of Texas drill site with “Smokey Joe Barton” sign strategically placed….article link HERE on (laid off) worker retaliation/theft…the new ecoterrorists.
In Texas, I covered the story when the Perryman Group back pedaled on fracking and its importance in Texas job creation…..hahaha
Per the Bureau of Economic Analysis, the US average that the mining industry contributes to the overall economy is 2.2% in 2014, but that “Contributions from mining in Oklahoma and Texas led growth in the Southwest region (4.3 percent)—the fastest growing BEA region.” HOWEVER North Dakota would be hit harder than Texas because of the slow down in drilling from the low oil pricing.
You can see (per the BEA) the mining related decrease in GDP by industry for Q4 of 2014….“Mining increased 16.0 percent in the fourth quarter, after increasing 25.6 percent.”
BEA also reported that “Professional, scientific, and technical services real value added rose 4.2 percent in 2014, after increasing 0.7 percent in 2013. This was the largest increase since 2008 and the fifth consecutive increase for real value added.’
I bold faced “technical” because solar and wind energy applications are on the energy sector funds as a “technology”. Renewable energy funds are NOT on the stock exchange market category of the traditional fossil fuel energy companies like Exxon & Chevron.
It is important to note that…Clean Energy Collective Brings Roofless Community-Shared Solar Solution to Texas…..and the money making opportunities have never looked brighter!