Daily News: August 13, 2012

America’s Energy Seen Adding Jobs Along With 3% GDP

Bloomberg reported that U.S. natural gas production will expand to a record this year, and oil output swelled in July to its highest point since 1999.

Bloomberg said a surge in U.S. natural gas development has spurred $226 billion in spending plans on pipelines, storage, processing facilities and power plants, most slated for the next five years.

Bloomberg noted that Citigroup estimated in a March report that a “reindustrialization” of America could add as many as 3.6 million jobs by 2020 and increase the gross domestic product by as much as 3%

To read the full Bloomberg story click here.