Oil and gas production in the United States and North America is going to skyrocket in the next 8 years due to strides in natural resource extraction, write Citi analysts in a report published yesterday. In fact, they went so far as to call North America "the new Middle East," at least in terms of oil production. Ignoring this bullish forecast Obama continues to stick to his trite, hackneyed and downright idiotic assertion that the country is virtually out of oil. Citi economists expect oil production to as much as double for the continent in the next decade, and predict that the U.S. could overtake both Russia and Saudi Arabia in oil production by 2020
The only impediments to prosperity are Barack Obama and his corrupt Democratic Party. Not only will real gasoline prices decline over time, the Citi study sees a new industrial revolution in the United States brought on by cheap energy. The study also projects:
- An additional 2.0 to 3.3 percent of GDP growth.
- 3.6 million jobs by 2020.
- The current account deficit could shrink by 80 to 90 percent due to energy exports at an already low level of production.
- This is especially good news for retirees! The value of the dollar will increase by 1.6 to 5.4 percent.
- Global political risks will diminish as the US won't be dependent on middle eastern oil.