The Non-Green Jobs Boom
Forget ‘clean energy.’ Oil and gas are boosting U.S. employment.
So President Obama was right all along. Domestic energy production really is a path to prosperity and new job creation. His mistake was predicting that those new jobs would be “green,” when the real employment boom is taking place in oil and gas.
The Bureau of Labor Statistics reported recently that the U.S. jobless rate remains a dreadful 9%. But look more closely at the data and you can see which industries are bucking the jobless trend. One is oil and gas production, which now employs some 440,000 workers, an 80% increase, or 200,000 more jobs, since 2003. Oil and gas jobs account for more than one in five of all net new private jobs in that period.
The ironies here are richer than the shale deposits in North Dakota’s Bakken formation. While Washington has tried to force-feed renewable energy with tens of billions in special subsidies, oil and gas production has boomed thanks to private investment. And while renewable technology breakthroughs never seem to arrive, horizontal drilling and hydraulic fracturing have revolutionized oil and gas extraction—with no Energy Department loan guarantees needed.
Much more at the link. There’s a lot there that I wish I could reprint, but I’ll review by noting that the liberals absolutely hate the facts and are being disingenuous with their criticisms. The American Petroleum Institute commissioned a study which holds that a more sensible energy policy would create 1.4 million new jobs, and the Democrats are trying everything they can to dispute it. They are particularly critical of the use of “economic multipliers,” calculations which show, for example, that the new jobs directly created would lead to new jobs being indirectly created, such as among restaurants and other lifestyle economic buys by the new workers, while concomitantly using those same types of calculations in their support of the President’s 2011 jobs bill. As the Journal noted:
All such multipliers are suspect, but the liberals can’t have it both ways and invoke them to justify government spending but then repudiate them for private business.
In that, the editors are wrong: the liberals certainly can try to have it both ways, and will do so at every opportunity.
The editors are right about one thing, however: while the Obama Administration can try to predict how many jobs would be created by “green” investments, no predictions are necessary when it comes to the traditional energy boom: the numbers are already there, in real jobs already created.