John Larson

The economic boom in oil and natural gas production resulting from advanced drilling technology lifted the US gross domestic product a full percentage point during the recent recession, says an IHS Global Insight expert, and it can continue to boost the economy for the foreseeable future.

John Larson, Vice President, Public Sector Consulting with IHS, said the fossil abundance unleashed by horizontal drilling and hydraulic fracturing also lowered energy prices enough in the recession that the average household saved $1,000 overall on what energy would have cost. Keep reading →