Although hydraulic fracturing (fracking) has engendered the possibility of shale-produced oil and natural gas, vaulting the United States into the world’s No. 1 spot in fossil-fuel production (oil, coal, natural gas), prestigious financial weekly Barron’s now estimates up to $1 trillion in capital-goods spending will be generated to make this happen by 2025.
What is becoming increasingly clear is that the nation’s booming fossil-fuel energy activity is not only exceeding all recent records in this arena, but cloaking general industrial activity (manufacturing, mining, utilities) shortfalls at levels still well under the degree of industrial production and capacity utilization reached prior to the 2008-10 Great Recession.
Along time ago the saying was “Go West, young man.” Nowadays, it’s “Get to the Dakotas.” The modern-day oil boom in the Bakken region — covering a majority of North Dakota, northwestern South Dakota, eastern Montana and in the Canadian province of Saskatchewan — has been an impressive launching pad for PVF distributors willing to commit resources to the area.
Based on reliable reports from knowledgeable observers, the oil/natural gas boom continues to expand and will not be severely inhibited in the indeterminate future.