With oil production at a twenty year high and predictions of
a manufacturing renaissance for the U.S. economy, one of the world's largest
investment banks has detailed how the "shale revolution" will
negatively affect emerging markets such as China.
Hydraulic fracturing, or "fracking," has helped
lead a revolution in gas and oil production in the United States. The new
technology is unlocking oil and shale gas resources, spurring economic activity
and giving industry a competitive edge with less expensive gas and electricity
prices. These developments could lead to the industrialization of the U.S.
economy and could deliver sustainable growth, Morgan Stanley said in a research
note on Wednesday.
....The United States will
likely compete with emerging markets for market share rather than being a
consumer, Morgan Stanley said....
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