FARM BUSINESS NEWS
Oil Windfall Jolts U.S. Economy
Marcia Zarley Taylor DTN Executive Editor
Fri Jan 31, 2014 10:54 AM CST

DES MOINES (DTN) -- The U.S. shale oil boom is providing a major jolt to restart the nation's economy, but the energy windfall is not without cost, speakers at the Iowa Land Investment Expo told attendees Friday.

"Getting off enemy oil" may be one of the most important transformations for U.S. national security and economic prosperity, keynote speaker T. Boone Pickens said, adding that the magnitude of shale oil and gas production the last five years has surprised even a veteran 85-year-old oil and gas billionaire like him.

The United States has already slashed its oil imports from 60% to ...

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