Includes bibliographical references (pages 157-163) and index.

Introduction -- The dark before the dawn -- An oil and gas renaissance -- Economic impact -- The demand side of the ledger -- Regional and sectoral effects -- Environmental costs and benefits -- Trade policy considerations -- Conclusions.

New drilling techniques for oil and natural gas are propelling an energy production renaissance in the United States. As the US economy struggles to emerge from the Great Recession, many believe the energy boom could reduce unemployment and revitalize American manufacturing. Houser and Mohan assess the impact of the recent and projected increase in domestic energy production on US GDP, employment growth, manufacturing competitiveness, household expenditures, and international trade balance. The authors' analysis will help policymakers navigate the consequences of increased domestic oil and gas production for the environment and global warming. The book also explores whether companies should be allowed to export the energy they produce.