Small Business Welcome Income Tax Cuts

Can Kasich be trusted on any economic plan after the Lehman Bros. nonsense where he was huckstering junk investments for state pension fund investments? The Marcellus Shale gas reserves have all ready been cut by 70% by the Energy Dept and the Colorado School of Mines warns that the reserves are vastly over rated. The prospects for employment, in respect to the PA example, is that Ohio will, at best, see 10,000 jobs from the natural gas sector. On top of that, Chesapeake Energy is a corporation more in the model of Enron than Exxon. It is a land acquisition corp that is funded by kiting junk bonds and selling energy futures. They operate by acquiring the lease rights on huge property spreads, drilling a few test wells, and then selling the rights for 5x or 10x what they paid the state. One of their prime customers in Oklahoma and Texas has been the Chinese who have bought the energy futures and then exported the gas to China. And the environmental damage, where a blowout (like the BP gulf explosion) took place in PA, can be catastrophic in water table contamination and fugitive methane gas release. There is no reason to jump the gun on this industry and declare it an economic miracle. Kasich’s last economic panacea cost the Ohio pension fund considerably.