The fossil fuel industry is booming, and has a lot more room to run, thanks to incredible technological progress in oil and gas production from
In theory, this should create jobs, lower energy costs, and bring
By some accounts, the economy is cleaning up on this.
But analysts now say that while there are real gains to be had, we should be a bit more realistic about their extent.
In his new book "The Power Surge," Council on Foreign Relations expert Michael Levi says that while it's undeniable the oil and gas boom has created jobs and wealth, it's overall impact on GDP will probably be muted.
"People who claim that
He's not alone — we recently told you about the note from Capital Economics' Paul Dales, who says, "The boom in domestic energy production is responsible for only a small part of the rise in GDP since the recession and it does not explain why the US has outperformed most of its closest competitors."
We've compiled just a few charts that demonstrate why, outside of the energy industry itself, we're probably not going to see all that big of a spill-over effect from