Energy Revolution Will Create 22 Million Jobs, Experts Say

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New energy breakthroughs are unleashing an economic boom in the U.S. Based on a 10-year study, a new book from analysts at Crucial Trends predicts that boom will end unemployment by 2020.

Ride The Wave: How 12 Technologies Will Change the World and Make You Rich

Ride The Wave: How 12 Technologies Will Change the World and Make You Rich

The authors put forth a well conceived and balanced thesis in their examination of 12 transformational technologies, which they fully anticipate shaping the world of tomorrow.

Millions of Americans are still searching for work, but a new source of jobs is just over the horizon – or, literally, under our feet. According to the new book Ride the Wave, a major revolution in American energy will boost the economy and create 21.8 million jobs.

This news couldn’t come at a better time for the 1 in every 13 Americans who is struggling to find a job. According to the latest figures from the U.S. Bureau of Labor Statistics (BLS), 11.7 million Americans are unemployed. That doesn’t count the 10 million “underemployed” people who have one or more part-time jobs but want full-time employment.

Even as the economy shows signs of strength, most companies aren’t hiring. During the recession, businesses figured out how to use fewer employees and new technologies to get more work done with smaller payrolls. The result is what economists call a “jobless recovery” – a rare situation in which the economy gets better, but jobs remain scarce.

The only solution will be a new technology that creates new jobs – and, fortunately, that is exactly what will happen, according to the expert economic forecasters behind Ride the Wave.

Harvard-trained economic strategist Fred Rogers says, “Today's economic pessimism is rooted in a myopic misunderstanding of technology, business, and history. Every time things get bad, as they did in the 1930s, the ‘70s, or the current decade, the conventional wisdom jumps to the conclusion that ‘we've entered a permanent era of decline.’ But that's never been true, and it's not true today.”

According to Rogers and his colleague Richard Lalich, “The biggest story of our time is the current North American Energy Revolution.” By tapping North America’s vast reserves of shale gas and other resources clearly explained in the book, the U.S. will avoid energy shortages and end its dependence on foreign oil producers.

Beyond that, the energy revolution will transform the economy by putting Americans back to work. That includes not just the people who will be hired to fill the new jobs in the energy industry, but all the people who will be needed in a variety of supporting industries.

By 2020, Rogers and Lalich estimate that the revitalized energy industry will create the following increases in net new jobs:

  •     1.2 million jobs in the oil and gas industry.
  •     3.6 million jobs in services to new oil and gas companies and employees.
  •     3 million new manufacturing jobs due to low-cost energy.
  •     9 million jobs providing services to new manufacturers and their employees.
  •     5 million jobs created by eliminating half of the energy trade deficit.

Lalich says, “Combined, that's an increase of 21.8 million net new jobs in the U.S. within the next seven years. Based on the latest BLS figures, simple math shows that the North American Energy Revolution could wipe out unemployment and underemployment. This would create a labor shortage that would drive up wages, which in turn would cause a surge in consumer spending and a boom in the economy.”

Shale gas is natural gas that is trapped within shale formations under the earth’s surface. The U.S. Energy Information Administration forecasts that nearly half of the natural gas the nation consumes will come from shale gas by 2035 – up from just 1 percent in 2000.

Fred Rogers and Richard Lalich are the Publisher and Executive Editor, respectively, of Trends Magazine, at http://www.CrucialTrends.com. Since 2003, Trends Magazine has provided expert guidance to a select group of executives, entrepreneurs, government officials, investors, and others who want to stay on top of the important trends shaping the future. With an unparalleled track record for forecasting trends, Rogers and Lalich have distilled their vision of the future in Ride the Wave: How 12 Technologies Will Change the World and Make You Rich, which is now on sale at Amazon.com. More information on the book is at http://www.CrucialTrendsPress.com.

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Fred Rogers
AudioTech, Inc.
800-776-1910
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Richard Lalich
AudioTech, Inc.
800-776-1910
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