Text Size:
A | A

‘Energy Advantage’ Benefits U.S. Economy

Text Size: A | A
By Chris Sheehan, Hart Energy
October 10, 2012

HOUSTON — The advantage of having access to cheaper energy supplies is benefiting the U.S. economy to the tune of close to $1 billion a day, or roughly $350 billion a year, according to Francisco Blanch, Global Head of Commodities Research for Merrill Lynch.

Speaking at the Oil Council North America’s meeting in Houston on Oct. 9, Blanch calibrated an energy advantage — equivalent to 2.2% growth in gross domestic product — for the U.S. relative to Europe. With GDP in the U.S. growing at approximately 1.5% versus a negative ...


Already a subscriber? Log In
Password:
 
Does your company have a site license? Inquire here
Already a print subscriber? Upgrade your magazine subscription