Prepare for the Coming Energy Boom in the U.S.

It seems like every morning I open my newspaper to read about ever higher prices for oil. In my mind, it hung like a dark cloud over our economy. Over the weekend, I began to see a silver lining. Having lived in Western Pennsylvania and Southern Illinois, I couldn't help but learn a little about energy production. In the early 80's, I remember listening to stories of producers shutting down wells not because their wasn't any oil left to pump but because it wasn't economically feasible at $25 per barrel. Now with oil at prices above $45 per barrel, I believe there will be a boom in the oil, gas and coal fields as entrepreneurs go after the reserves that now look profitable again and people look for other forms of energy production.

Our requirements for energy are not going to diminish. Technology for solar power, wind power and fuel cells aren't quite ready for prime time. Sufficient reserves exist in this country especially at current prices to meet our needs.

I think this bodes well for hand and power tool manufacturers as drilling and mining are large users of hand and power tools. Over the last 20 to 30 years, this has not been a very active segment of our economy, but I think it is very possible that we may experience a boom in this segment very shortly.