The energy boom and the re-industrialization of the US

Fuel Fix:

Siemens AG CEO Joe Kaeser suggested Wednesday that the global engineering corporation will bring more operations to the United States amid the nation’s energy boom, because “I want to build this company to last.”

Speaking at the IHS CERAWeek energy conference, Kaeser did not specify what expansions the corporation had planned or when they could happen. But he said the United States and manufacturing companies are poised to benefit from the nation’s energy boom and should take advantage of the “once-in-a-lifetime moment.”

Kaeser said the advent of cheap natural gas is responsible for the “re-industrialization” of the U.S. He called the development of horizontal drilling here “the biggest shift of balance in the global economy since China joined the (World Trade Organization).”

The energy boom has put the country in a strong position, he said, repeatedly calling the U.S. “the place to be.”

Across the Gulf Coast, a growing number of firms are constructing petrochemical facilities designed to take advantage of the new bounty of natural gas feedstocks necessary to make chemicals involved in manufacturing. Kaeser said the gas boom will give America a global, competitive advantage in luring global manufacturers.

Siemens is an engineering and electronic giant that has 300 manufacturing facilities and employs more than 350,000 people. Kaeser suggested that the global corporation will bring more operations to the United States amid the nation’s energy boom, because ”I want to build this company to last.”
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The Democrats policy of artificial scarcity of oil and gas in the US was largely responsible for the decline in manufacturing and the oil boom which they have been trying to stop is creating thousands of new jobs in the energy business and manufacturing and companies from around the world want to be here to take advantage of it.