• Energy Tax Facts
  • 18 Jul 13

Wall Street Journal: McKinsey Study Finds Oil and Gas Development Boosting American Jobs, Economy

The U.S. economy faces far more than cyclical troubles. It needs deeper, structural changes to substantially boost productivity and generate new jobs, the McKinsey Global Institute says in a new report entitled “Game Changers: Five Opportunities for U.S. Growth and Renewal.”

“Structural problems have been brewing in the U.S. economy for decades,” the think-tank arm of the consulting firm says in the report being released Wednesday. “It is time to shift the conversation toward growth-oriented policies that can mobilize investment and job creation.”

MGI identifies five catalysts for growth and quantifies their possible impact: the booming shale gas and oil industry, trade growth, infrastructure investment, advances in data analysis and educational overhauls. Though all five require large investments, the cost could be shared by different levels of government and by the private sector, the report says.

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