The People of America's Oil and Natural Gas Indusry

Energy, Innovation and The Possible

Mark Green

Mark Green
Posted June 25, 2015

An Agenda of Prosperity for America

CNN (Petraeus and Bhayani) – Fracking. 3D printing. Personalized medicine. Big data.

Each is a compelling technological trend. And taken together, advances in energy production, manufacturing, life sciences and IT amount to four interlocking revolutions that could make North America the next great emerging market -- as long as policymakers in this country don't impede their potential.

The impact of these four revolutions is already evident in the enviable economic position enjoyed by Canada, Mexico and United States compared with the rest of the world.

Japan -- despite some promising signs under "Abenomics" -- and most of the Eurozone could epitomize the "new mediocre" of which IMF Managing Director Christine Lagarde has warned.

China is slowing because of a combination of the exhaustion of investment-led development, rising labor costs and soaring debt, among other issues.

India, perhaps on the threshold of the "Modi Moment," has yet to develop convincing momentum, and Brazil is sliding into recession.

To be sure, the comparative strength of the North American economies is partly explained by natural strengths: macroeconomic stability; a sound banking system; favorable business climates; strong cultures of innovation and entrepreneurial spirit; deep and agile capital markets; small firms that can create and capitalize on technological advances; and, of course, their deep integration with one another. But the growing dynamism of the three economies is credited increasingly to the technological transformations.

Read more: http://cnn.it/1LxV52D


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ABOUT THE AUTHOR

Mark Green joined API after a career in newspaper journalism, including 16 years as national editorial writer for The Oklahoman in the paper’s Washington bureau. Mark also was a reporter, copy editor and sports editor. He earned his journalism degree from the University of Oklahoma and master’s in journalism and public affairs from American University. He and his wife Pamela live in Occoquan, Va., where they enjoy their four grandchildren.