By Don C. Brunell/Don C. Brunell is a business analyst, writer and columnist. He retired as president of the Association of Washington Business, the state’s oldest and largest business organization, and now lives in Vancouver. He can be contacted at theBrunells@msn.com.
In Washington, an abundance of low cost, reliable hydropower spurs economic growth. It is a key reason why energy intensive industries locate here.
Today, our nation has a profusion of carbon-based energy. Unlike a decade ago when we relied upon imported natural gas and crude oil, fracking technology put us on the path to be the world’s largest producer of processed petroleum.
While fracked gas and oil are a boom to America’s economy, they are a big problem for traditional oil rich nations like Saudi Arabia and Russia.
The Wall Street Journal recently reported: “Aramco, one of the world’s most powerful and secretive companies, is undergoing an unprecedented makeover, as the oil-price rout hurts its revenue and uncertainty clouds the future of fossil-fuel demand.” (Aramco is short for Saudi Arabian Oil Co.)