“The disaster in Japan likely means the end of nuclear energy, in the US and abroad, and a greater reliance on natural gas.” this according to Jim Cramer. Investors are cashing their investments.
What Cramer sees is natural gas fueling the rebuilding of Japan.
How does this translate to Otsego County? If nuclear power is pulled of the table; with the natural gas resources of the Marcellus, Utica and Oneida sands, our county is poised to see a change in our economic profile. If the resources are developed to contribute to the growing local energy demand, and as Japans rebuilds its infrastructure, there will be a global need supplies and just maybe this could have some local economic implications albeit small ones.
Potential future: Environmental activist will continue targeting local nuclear power plants and potential gas drilling activities but there will be a whole lot more money invested into extracting natural gas resources safely.
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