AEI's James Pethokoukis, citing an IHS Global Insight report, says that t
he economic blessings of red-state fossil-fuel extraction may have been a strong factor in putting the Most Equal Comrade over the top in his second presidential race. Increases in disposable income and job creation, certainly discernible in those states, but having a national effect as well, was a lone outpost of good economic news that no doubt factored into voters' thinking.
Without the shale revolution, election year 2012 might have seen the official unemployment over 9% in November instead of 7.8%. And the average American would have faced a higher cost of living and lower income. More importantly now, the US energy industry continues to be a real economic bright spot.
The quintessential formula for Freedom-Hater success: ride to glory on the fruits of good old capitalist activity.
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