CNBC, NBC NEWS, to Air Cross-Network Coverage of INVEST IN AMERICA, 10/18
America's road to recovery has been a rocky one, and despite some glimmers of hope, apprehension looms among investors. On Thursday, October 18th, CNBC and NBC News will provide special programming and comprehensive coverage of "Invest in America."
As high gas prices threaten our economic resurgence and political unrest rattles overseas, the need for American energy independence is more important than ever. CNBC's Jim Cramer and Phil LeBeau will report live from the Utica Shale in Ohio, considered by many as the location for America's next big energy boom. Once a prosperous area at the heart of American industry, the economy in Steel Country, Ohio was hit hard long before the recession. After years of struggle, there are sparks of new life and optimism in the region driven by the Utica Shale, a little-known oil and natural gas formation located thousands of feet beneath the surface of several U.S. states.
CNBC's Jim Cramer will broadcast live from Timken's Faircrest Steel Plant in Canton, OH-the heart of the Utica Shale-for a special edition of "Mad Money w/Jim Cramer" (M-F, 6 & 11PM ET). The natural gas and oil industries have exploded in growth, generating $1.7 billion in sales for the state of Ohio. And the Utica Shale is estimated to have reserves of up to 15.7 trillion cubic feet. Could this be the solution to the three of the U.S.'s biggest problems-unemployment, an addiction to foreign oil and a faltering economy? The Utica Shale may serve not only as a pipeline to economic renewal, but could also shape our nation's energy future, and Cramer will cover every angle of the companies in the area working to keep the American dream alive.
CNBC's Phil LeBeau will report live from Youngstown, OH throughout the day for CNBC's Business Day programming. LeBeau will take a look at how the fracking boom has fueled Ohio's economy beyond natural gas including a substantial decline in the state's unemployment rate as well as the auto industry's comeback three years after being left in shambles by the near collapse of General Motors and Chrysler. Ohio is the reigning bellwether in presidential politics and with the economy the focus of this election, LeBeau will speak with small business owners in Youngstown to get their take on how the state's rebounding economy will impact the presidential race.
CNBC's LeBeau will appear on "NBC Nightly News with BrIan Williams" telling the story of the overnight wealth created by the natural gas and oil boom in the region. He will also appear on MSNBC dayside. And, CNBC's Jim Cramer will appear on "Today" to cover the story.