A former economic adviser to the Secretary of Commerce said theincreased production of natural gas and oil from shale, along with renewable energy sources such as wind, areexpected to create jobs and bring loan demand and member depositswith them.

“As production of shale in the U.S. increases, dependence onenergy from other countries will be reduced, adding jobs andcontributing to economic growth,” said Kathleen Cooper in a releasefrom the $2.65 billion Catalyst Corporate FCU.

Cooper, who served as Under Secretary for Economic Affairs ofthe U.S. Department of Commerce from May 2001 until August 2005, isa scheduled speaker for Catalyst's 2013 Economic Forum, which willtake place Oct. 22-23 at the Embassy Suites Hotel and ConferenceCenter in Frisco, Texas.

Cooper also has been chief economist with the Exxon Mobil Corp.and is currently dean of the College of Business at the Universityof North Texas, according to her profile at Speakerpedia.com.

The International Energy Agency, the energy policy watchdog forthe world's major industrialized nations, has predicted that theincrease in oil and natural gas from shale will move the U.S. aboveSaudi Arabia in crude oil production by 2020.

The production of natural gas and renewable energy from windwill continue to contribute to the U.S. economy by making us lessenergy dependent globally. And the fate of the so-called KeystonePipeline is certain to have an impact as well on economicgrowth.

If approved, jobs will be added in those regions through whichthe proposed pipeline passes, including Texas and Louisiana, Coopersaid.

“Over these next few years, economic growth in the U.S. willslowly pick up, and short term rates will stay low, helpingfinancial institutions to profit,” she said.

Currently, Cooper also is chair of the National Bureau ofEconomic Research and a member of the Council on Foreign Relationsand the Conference of Business Economists.