Loews Corp. (L, Financial)'s James Tisch was on CNBC to discuss the fiscal cliff, U.S. debt levels and energy. He is very bullish on natural gas, thinking it will transform the U.S. economy. He also notes that an additional billion cubic feet (bcf) of natural gas production will produce 7,000 to 10,000 jobs.
Highlights:
-Bullish on natural gas.
-Thinks current deficits and debt levels of U.S. are unsustainable and may pose a great problem.
-He signed the letter sent by 80 CEOs to congress to resolve the fiscal cliff situation.
-The American consumer has improved its balance sheet in the last four years and government should think about how it has to get its fiscal house in order.
-The natural gas boom is in progress. Consumption of natural gas is way up versus the decline in oil consumption.
-A British thermal unit (BTU) of natural gas costs much less than a BTU of oil, so there is a major shift in consumption patterns of energy.
-U.S. will become a big exporter of natural gas.
-Natural gas will be a real job creator only if government can correct its policies.
Credit: www.cnbc.com, CNBC
Here is the video:
Highlights:
-Bullish on natural gas.
-Thinks current deficits and debt levels of U.S. are unsustainable and may pose a great problem.
-He signed the letter sent by 80 CEOs to congress to resolve the fiscal cliff situation.
-The American consumer has improved its balance sheet in the last four years and government should think about how it has to get its fiscal house in order.
-The natural gas boom is in progress. Consumption of natural gas is way up versus the decline in oil consumption.
-A British thermal unit (BTU) of natural gas costs much less than a BTU of oil, so there is a major shift in consumption patterns of energy.
-U.S. will become a big exporter of natural gas.
-Natural gas will be a real job creator only if government can correct its policies.
Credit: www.cnbc.com, CNBC
Here is the video:
