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-- I could fracking in the catalysts that turns our entire economy around.
Some estimates say unconventional drilling could create three million high paying jobs.
By the end of the decade it is clear we need to do something big to get America back to work where the most promising fracking plays right now.
Let's ask the man who knows tickets chairman of BP capital -- so -- back on the show.
So this is my theory.
I -- fracking could really be our thing.
That in the past when we've seen is big structural shift in the economy where all of a sudden.
Millions of jobs have disappeared and don't appear to be coming back we be there had war or we've had the Internet crop up we've had some huge shift that has created.
A new industry do you think fracking and shale.
Could be that industry in the US that can get us going again.
They you know I industry has done a very good job and I'm not appear stumping for the industry -- -- same guy recognize what's been accomplished.
That you came out that he tech period and a lot of information developed in the tech period Lewis went over to -- gas industry.
Fracking has been one of the things that we've gained from some of the computer technology in all plus or -- -- But did that on gas industry you said three main job -- in the decade.
I think that is is doable it could even be more than it.
But their jobs there all the way from you know I'd say from truck drivers -- good job.
But you've got jobs you know rough neck trailer truck drivers you got -- and the job all the way to the top.
So the industry is has done I think that's a -- fantastic job.
Absolutely and it -- -- and especially I mean when you look at the wages I mean we went and tried to break down what these people were making especially as.
Folks at home may be out of work from construction are other fields trying to figure out what to do.
According to BLS the average wage for all workers in the fracking industry is 51 dollars an hour that's.
Average white collar jobs like petroleum engineers can get anywhere from 35 to 67.
Dollars per hour.
Skilled and semi skilled workers twenty dollars an -- Is so do you imagine having your some in the US so much experienced out of Texas in the field seeing people out there.
If you aren't unemployed construction worker can you make that transition.
Is it too late if you're an adult can you retrain and find -- job.
In the fracking and show industry.
Well no I mean there's opportunity there continually.
I -- speak today college students quite a bit that are.
That are majoring in geology and -- -- engineering and I was already seen you a month ago and I said I didn't I can tell you have picked the right career.
In geology here petroleum engineering.
There's so much energy so much resources if you look around the world the countries that are doing the Vegas.
Our countries that are using their own resources.
And the United States as.
Ample resources to take care of our needs so plot an opportunity for all of us.
That -- -- -- I've the energy industry is done one thing they probably created too many jobs some places but you have thirty states.
You have thirty states now.
That are producing states.
And when I started in the industry years ago there were nine and producing states.
So -- it's three times as many today.
Producing oil and gas as -- -- when I started.
Yes absolutely you're way out in front of -- I remember many years ago.
When you said natural gas for transportation on -- show that I was doing and I got a bunch of emails afterwards from people saying lots.
Is that even possible I think he was -- that gasoline not -- yeah.
I mean you -- way out in front of this so if you're an investor right now.
Where are there opportunities that -- hot yet I mean what are you looking at next in this industry what -- there.
Businesses are areas are locations what is the thing that people haven't discovered that you look at -- Well today you know -- -- natural gas at three dollars and -- -- six is today.
You see it in -- sixteen dollars Europe thirteen dollars and use -- all my guys the process to go out get on the supply side.
But -- -- a lot of natural gas in the United States surprise will go up.
That it's not going to be a runaway -- I can tell you that their only 364.
Rigs running today on natural gas.
Four years ago there were 16100.
Those rigs all moved over their drilling for all now.
But when the price of natural gas -- up five dollars will put more rigs over off they all.
Area into the gas area again.
Six dollars puts damn near everything back to work and so that six dollar that -- -- a comparison.
On a a BTU equivalency.
That natural -- at all it at a hundred dollars a barrel natural gas should be sixteen.
It's six to one on -- BTU.
-- -- bases so here you are.
You know with the press of natural gas it just a fraction.
It's a tiny fraction of the tiny tiny fraction of of what you're paying to get the same energy from wildly and viewers are right thank you so much for coming -- we always appreciate your time.
Thank you enjoyed it aren't coming up.
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