US states such as Texas, North Dakota, Ohio, Pennsylvania, Louisiana, and more are taking advantage of a huge economic boost coming from the US fracking boom. One of the biggest secondary economic effects of this fracking boom is the growth in US manufacturing directly related to the relatively low US gas & oil costs. For their part, true believers in peak oil doom have descended into full fledged denial mode. Many of the doomers are bravely declaring that US tight oil & gas are mere “flashes in the pan,” and will play out entirely “any day now.” Resource scarcity doomers have never been known for their skill at reading price signals, or other important indicators. In their world, it is all about the circular jerkular belief reinforcement, boosted by the echo acoustics of the choral chambres.

(Dr. Benny Peiser)