Today our retirement saving and investments have regained all their 2008 losses plus stocks have moved to all-time highs. The banking, finance, and housing industries are again solid and rapidly recovering. The American auto industry has repaid all the loans that saved about 1 million U.S. jobs in 2008. American cars are again competing with imports, which can be seen in the rehiring of hundreds of thousands of American factory workers.
We now lead the world in the expansion of domestic oil and gas production. We are on schedule to be a major exporter of refined petroleum products. That means we will be completely free of foreign disruptions to energy supplies and we will be able to supply our allies with many of their energy needs. Unemployment has declined too slowly largely because of reductions in federal spending and the loss of about 750,000 federal and state government jobs.
The end results of all these areas of recovery will be good paying American jobs. Energy, finance, banking, medical, auto assembly, and new energy generation are the new employers of the American middle class.
Even regressive Texas is now getting 13 percent of our electricity from wind and solar. These clean endless electricity sources are scheduled to increase to about twenty percent of the entire Texas market. Renewables, combined with natural gas, will completely displace coal and liquid fuel generator plants in about six to ten years. These new sources of energy should absorb the lost jobs in coal, plus finance the expansion of our elderly power grid system.
When I read guest columns of gloom and doom in this paper, I wonder what is their source? Never in my lifetime has the world been more peaceful than it is today. There are no empires building or declining. No great nations are at war with each other. The land, sea and air routes of the world are safer now than any time in the last five hundred years. In this country, and most of the world, we lose more lives to accidents than to war and all forms of homicide.