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Shale Drilling Slump Exposes US Manufacturing’s Achilles Heel—-Oil Production Is Now Mfg-Intensive

Summary:
Slowing shale-drilling activity is the latest damper on U.S. manufacturers that had come to rely on a booming domestic energy market. Advances in fracking and drilling transformed global energy markets over the past decade, raising U.S. oil-and-gas production to record levels. That has created big business for American factories supplying drillers with cranes, engines and pipes. The oil-and-gas industry bought billion worth of manufactured products in 2018, the U.S. Bureau of Economic Analysis said, four times as much as was purchased in 2009. https://www.wsj.com/articles/manufacturers-face-new-threat-from-fracking-slump-11574083303?mod=hp_lista_pos4

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Slowing shale-drilling activity is the latest damper on U.S. manufacturers that had come to rely on a booming domestic energy market. Advances in fracking and drilling transformed global energy markets over the past decade, raising U.S. oil-and-gas production to record levels. That has created big business for American factories supplying drillers with cranes, engines and pipes. The oil-and-gas industry bought $48 billion worth of manufactured products in 2018, the U.S. Bureau of Economic Analysis said, four times as much as was purchased in 2009.

https://www.wsj.com/articles/manufacturers-face-new-threat-from-fracking-slump-11574083303?mod=hp_lista_pos4

David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

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