A billion-dollar daily shot in the arm for the American economy
August 17, 2012 | Posted by Ken Cohen
The story notes that Merrill Lynch claims raw gains from domestic energy supplies were $900 million per day in April – a 1,300 percent increase from $70 million per day in January 2010. By the end of 2012, Merrill Lynch expects the daily gains from domestic supplies to be over $1 billion.
Unfortunately the report is not online, which is too bad because the authors provide valuable detail about what they see as the great economic contribution of the current energy revolution. They peg that contribution at 2.2 percent of U.S. gross domestic product – an astounding figure in a $15 trillion economy.