Skip to content

CNBC asks: “Could the booming U.S. energy sector assume the mantle that Detroit’s big automakers once held in the economy?”  

“Although it’s still too early to tell, recent trends suggest soaring energy production may replace automobile manufacturing as an economic powerhouse. Even as the U.S. recovery falters, manufacturing and energy are in the midst of a broad expansion that is helping to generate growth.”  

“Analysts say both sectors are increasingly intertwined. Yet as Detroit’s economic influence has waned, soaring shale production—and the cheap energy it provides—is making its presence felt in multiple ways. On Thursday, the Energy Information Administration reported oil production in 2013 surged by nearly a million barrels per day (bpd), its fastest growth rate ever.”

Recent Stories

Kim launches primary challenge after Menendez refuses to quit

Four spending bills readied for House floor amid stopgap uncertainty

Menendez rejects New Jersey Democrats’ calls to resign after indictment

Photos of the week ending September 22, 2023

Dressing down — Congressional Hits and Misses

Menendez indictment comes with Democrats playing 2024 defense