47 0 0 0 13 6. An oil derrick rises up in Erie City Park where maintenance is being done to the well on the site. You don’t need to a Nobel Prize in economics to know that the fracking revolution has been good for the U. What’s not so well known is just how competitive china horizon investments group oil and gas has made American manufacturing.
BCG, the Boston consultancy, estimates the average cost to manufacture goods in the U. Part of the reason for the narrowing gap is that wages have been rising in China. And American companies have been boosting their productivity faster than many of their international competitors. But perhaps the single largest factor is that fracking has helped dramatically drive down the price of oil and gas that’s being used in energy intensive industries such as steel, aluminum, paper and petrochemicals. US manufacturers face the risks of delay when shipping from China, the threat of port strikes, and the local investments and partnerships that Beijing often requires of foreign companies doing business there. Lower energy prices can also open up new opportunities such as a using natural gas to power fleet vehicles and trucks, which would reduce American dependence on foreign oil and cut greenhouse gases. The Japanese car giant will start taking orders for the Mirai in California this summer.