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Former energy policy director at U.S. Treasury Philip Verleger on jobs created through fracking.
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Thank you so fracking is spurring job -- key swing states of Ohio Pennsylvania -- -- Obama administration take credit.
For the economic -- from fossil fuels joining me now to way up way in.
Is -- Ehrlich.
US treasury office on energy policy under president Jimmy Carter and is now an industry consultant.
Thank you so much for joining us -- -- without question.
Fracking is one of the main reasons why we are seeing the unemployment rate in Ohio is only at seven point 2% which -- -- bad compared to the national average of eight point 3% Pennsylvania.
It's seven point 9% but you say that President Obama can't really take credit for this how com.
We've seen politicians take credit for energy gains for years and it's back almost all the gains have -- -- By virtue the private sector George Schmidt dialogue with.
It's worked on.
Shale gas and so on.
And listeners must -- benefit that is just kind of crept up -- the following it for forty years there were some affordably bridge to.
And it's.
It's it's surprising in Ohio is getting at both from tracking and from the steel industry which is -- all the pipes that are being used around the country to move both oil and gas.
And I suspect.
Making -- -- so -- it's something that is that -- happened has been done by the private sector.
Are almost over the dead body of the federal.
-- it has been the free market at work without question sort of working its magic we've seen that the fracking revelation has taken hold it is a technology that in the past.
You know was too expensive to go after.
This natural gas and and some oil product that was trapped in -- but now because of technology we can do it you -- the president can't take credit for the same time.
I mean it could have stepped out with regulation.
Preventing.
They capture this gas right I mean at least haven't stepped in the way.
Well.
Yes and no -- the first place week.
Have a professional comparable that the free market that we just didn't happen because of the big oil companies that happen.
It's because the big oil companies leftists and exporters came in but it.
Here is that the free market telling me how does that does that exactly -- hello I'm trying to make money we love him the most I -- I don't like I guess.
I just wanna make sure that ActiveX so -- to -- -- but the but it's yeah I just beyond the I think that the at this crept up on the -- administration.
Heavy PP Obama EPA really realize what was going on they would have moved much more quickly.
Thought this through -- clamp down.
The Obama had finished EPA particularly with their -- come regulations that are cut going to come after November.
And what they've been talking about and other areas.
Is if anything a hindrance and -- so it's happened because not thanks to the above for.
And in the meantime if we talk about green jobs I mean the Obama administration promised to create five million green jobs over the next ten years.
In 2009 -- -- -- -- spent a record ninety billion dollars and clean jobs not only created.
Less than a quarter of the million jobs and it as a result of that money so it's sort of stands in contrast to that.
It is is you know every time the government has tried to sell conservation and Carter tried it.
-- and Obama's tried it.
You know Bush Administration did a bit of that the the first Bush Administration based failed IVY.
Or what it is because.
Do you -- the jobs are created really.
All but entrepreneurial and a innovation and and again if you go back at the big oil companies left in the George -- and so -- figured out how to make fracking work.
And they created the jobs they create -- the companies like dove on and and Chesapeake and so on that are built this whole thing and the same thing is gonna happen with the green green jobs it is you can't make our.
Conservation -- these conservation things happen.
Just by saying we're gonna create -- And it doesn't make economic sense it almost never works out it'll never I hate to catch apparatus that they want to get them is subject it would -- We will thank you that I thank you so much -- talk to his.
