Frackonomics

“Our country is doing better than ever before with unemployment setting record lows. Workers in America are doing better than ever before. Celebrate Labor Day!” – Donald Trump, September 3, 2018

Trump said AFL-CIO President Richard Trumka “represented his union poorly… it is easy to see why unions are doing so poorly. A Dem!” Richard Trumka said efforts to overhaul the North American Free Trade Agreement (NAFTA) should include Canada. Trump does not understand trade.

How can we believe “our country is doing better than ever” when independent reports say over half of Americans can’t pay their bills? A September 1, 2018 report says, “Fueled by debt and years of easy credit, America’s economy is on shaky footing.”

Americans don’t want to hear the US economy is at high risk. Trump falsely claims victory to continue his promise to Make American Great Again with irresponsible and arbitrary actions. MAGA is an old campaign slogan, a phrase that sounded good when the 1980’s American economy was suffering from high unemployment, high inflation, and low economic growth. President Ronald Reagan used MAGA to wake up the nation and get elected. Reagan gave a tax cut to the rich pretending to create jobs for the middle class, known as “trickle-down economics.” It did not work, it never will.

An economic theory has a fiscal policy, which deals with government taxation and spending, and a monetary policy, which deals with money supply and interest rates. There are many economic theories, some better than others. It is all about who gets the short end of the stick.

MAGA and trickle-down economics are not economic systems, just words. Someone made them up.

Solar and wind energy are the best solution

Energy is fundamental to the U.S. economy. If the lights go out, the economy goes out. Solar and wind, and green emission free energy, are the best ways to generate electricity and transportation. While Energy Security Partners dreams of selling diesel in the proposed Pine Bluff natural gas refinery, a Tesla electric semitruck came to visit JB Hunt Arkansas. ESP is a three-phase, $12 billion project, to create 225 refinery jobs after 2023.

The 1900’s U.S. oil fields were hard to find, but a few wildcatters got lucky drilling vertical wells. Today the US oil fields are gone, but financial wildcatters are making a killing using master limited partnerships, selling pipelines and energy stocks.

What frackers say is false

“Republicans have long favored an all of the above approach to an energy policy. That means if it’s American, we need to be using it safely and responsibly. No single source is the answer. However, in spite of any false reports you may have heard, one of the most promising sources is natural gas and oil produced by hydraulic fracturing.” Oct. 28, 2014, US Senator John Boozman, “The Truth About Fracking.”

What is Frackonomics

This is an economic irresponsible practice, documented herein for the first time. Frackonomics is based on exporting massive volumes of shale crude oil and natural gas. The goal is worldwide domination of fossil fuel markets.

Rules of Frackonomics:

1. Oil and gas are extracted by slick-water fracturing shale formations, and offshore deepwater drilling.
2. The price of crude is tracked every day. Oklahomans hold public prayers when the price is low.
3. The total cost of a barrel of crude oil and the subsidies granted by the U.S. Congress are ignored as irrelevant.
4. The millions of gallons of clean water, tons of sand, secret toxic chemical recipes, trucks hauling wastewater disposal, and earthquakes from injecting wastewater in old wells, are disregarded.
5. Greenhouse gas emissions, climate disruptions, and all damages to life, are overlooked.
6. Protestors who spend weeks in trees to stop clearcutting the trees for pipelines are dealt with harshly. States’ oil and gas laws can’t be violated.

It’s up to you, me, us to stop fracking

California is at high risk. To prevent the fracking of 1.6 million acres of California Public Lands, please Google “Bureau of Lands Management Document Number 2018-16957,” and send a comment by Friday, Sept. 7, 2018. Thank you.

Dr. Luis Contreras