Wednesday, September 4, 2013

An energy phenomenon he loathes may have saved the MEC's political bacon in 2012

AEI's James Pethokoukis, citing an IHS Global Insight report, says that the 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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