Bloomberg -- "Hydraulic fracturing is bringing new
development to the Midwest, creating demand for commercial real
estate in the region even as landlords struggle to pay off
earlier property loans. Chesapeake Energy, the second-
largest U.S. natural-gas supplier, has acquired $2 billion in
land leases comprising 1.35 million acres in Ohio and
contributing to the beginnings of an economic recovery in the
state.
“Thank God for the oil and gas business,” said Tim
Putnam, president of Putnam Properties Inc., a commercial real
estate company based in Canton, about 60 miles south of
Cleveland. “It’s created a lot of optimism among people who
live here.”
Energy production in the state may add $4.9 billion to
Ohio’s economy in 2014, according to a study by researchers from
Cleveland State University, Ohio State University and Marietta
College."
some Context.... 5 billion is certainly not chump change but by my research it is about 1% of Ohio's Gross State Product.
ReplyDeleteReal Estate and Construction in comparison, even after the meltdown appears to be a far bigger percentage.
every little bit helps - but it's not the savior of Ohio's economy.
oops -
ReplyDeletehttp://www.development.ohio.gov/research/files/E100.pdf
This is in its infancy stages. There will be much more to come, and $5 billion will look like chump change by around 2020. Plus, I don't think that number counts the multiplier effects.
ReplyDeleteIf you have ever been to Cleveland you would know that 5 billion dollars could be put to good use tearing down that city. 5 billion trying to restore it would be throwing good money after bad.
ReplyDeleteIf you have ever been to Cleveland you would know that 5 billion dollars could be put to good use tearing down that city. 5 billion trying to restore it would be throwing good money after bad.
ReplyDeleteEnergy production in the state MAY add $4.9 billion to Ohio’s economy in 2014, according to a study by researchers from Cleveland State University, Ohio State University and Marietta College."
ReplyDeleteOr it may not. We note that malinvestment may seem like a positive early in the game but is very harmful when it has to be liquidated. Ohio would be much better off if it defaulted, downsized government and allowed the unhampered marketplace to work as it is supposed to.
If you have ever been to Cleveland you would know that 5 billion dollars could be put to good use tearing down that city.
ReplyDeleteWhat's wrong with Cleveland? I rather like it. You got Jacobs Field, you got the Cavaliers, you got...um...well, I just go for sports.
...the rock and roll hall of fame?
ReplyDelete...the rock and roll hall of fame?
ReplyDeleteOh, good point.
"..the rock and roll hall of fame?
ReplyDeleteOh, good point."...
Surely you jest, right?
That pig palace is a waste of extorted tax dollars...
I can see why larry g might think its a good idea though...
I wouldn't apply for my Visa just yet.
ReplyDeleteOf the five producing Utica Shale wells, the top well is producing 72 bbl/day.
Link
And, that's after only 92 days of production.
ReplyDeleteSurely you jest, right?
ReplyDeleteNah, I love the Rock 'n' Roll Hall of Fame!
Of the five producing Utica Shale wells, the top well is producing 72 bbl/day.
ReplyDeleteAnd, that's after only 92 days of production.
But you don't get "IT".
It must different this time or they wouldn't be 'investing' in $10 million wells.
juandos: "That pig palace is a waste of extorted tax dollars..."
ReplyDeleteO wow. Just when I was thinking nothing could surprise me.
I like the band name, but it may not mean anything considering who the members are.
Gotta love the comments on this article.
"Nah, I love the Rock 'n' Roll Hall of Fame!"...
ReplyDeleteWell jon murphy would you love it enough to reimburse the taxpayers the $63 million they paid for it?
Well jon murphy would you love it enough to reimburse the taxpayers the $63 million they paid for it?
ReplyDeleteI'll probably spend that much over the course of my life at that place and in Cleveland :-P
"I'll probably spend that much over the course of my life at that place and in Cleveland :-P"...
ReplyDeleteWell now jon murphy you really do like that place...
In all seriousness good for you...
Two summers ago I visited the pig palace and that one visit was twice as often as I needed to see it...
I should've spent that time at Cedarpoint which was the original reason for going to Cleveland...
Cedarpoint is heaven on earth...
"Gotta love the comments on this article"...
ReplyDeleteYeah ron h personally I was rather impressed that reality was settling in with some folks...
More and more people are starting to become aware of Great Moments in Government Waste...