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| Science & Technology |
| Democratic jackpot |
| 2011-11-07 |
| The energy-short democracies — the United States, most European Union nations, Japan and Israel — are today mostly on the defensive, while energy-rich countries run by strong men — Russia, various Middle Eastern states, and Venezuela — are flexing their muscles. Within a decade, this energy order could flip. Many of the Western democracies are likely to become major oil and gas producers, helping to glut the world and collapse energy prices. And today’s energy-rich countries, most having undiversified economies, will then lose the lion’s share of their revenues and become neutered politically. The game-changer is “unconventional fossil fuels,” much of it trapped in shale — rock that often contains oil or gas. In the case of gas, the U.S. is developing so much, so fast in so many places that the domestic price for natural gas has more than halved. Whereas five years ago the U.S. planned to build major terminuses to import gas, it is now becoming a major gas exporter. America’s Marcellus Shale formation alone — a natural gas reservoir that lies more than a mile underground beneath Pennsylvania, New York, West Virginia and Ohio — has enough gas to supply the Eastern U.S. for decades. |
| Posted by:tipper |
| #10 Not just the country, bright pebbles, the whole of the world, because they will be making something good that we probably want. |
| Posted by: rammer 2011-11-07 20:57 |
| #9 The thing is If someone is willing to pay more for oil than the U.S. will then they have a better use for it than the U.S. does, and the country will be wealthier if you export it... |
| Posted by: Bright Pebbles 2011-11-07 17:54 |
#8
They would have no use for it if they didn't export it. |
| Posted by: Rob Crawford 2011-11-07 17:14 |
| #7 Until OBumbles makes it illegal Environmental wacko's already trying to ban hydraulic fracturing (fracking). Only acceptable energy sources are pixie dust and unicorn farts. |
| Posted by: CincinnatusChili 2011-11-07 16:54 |
| #6 I wonder why we allow the exportation of a resource we will certainly need? I wonder if the Soddies ever ask themselves the same question. |
| Posted by: Ebbang Uluque6305 2011-11-07 15:36 |
| #5 I wonder why we allow the exportation of a resource we will certainly need? There used to be something called free enterprise, a multi-edged weapon. It's probably also related to the US's habit of paying billions to import oil from jihadis and their supporters. |
| Posted by: Anguper Hupomosing9418 2011-11-07 15:09 |
| #4 I am trying to take a longer view. While Obama and his ilk can *delay* production, there is no way they can permanently *prevent* the resource from being exploited. And an immense sea of cheap energy is waiting for American leaders who will permit its exploitation. So right now, for example, the Middle East has far more influence than it should, because it has oil. But all too soon, its oil will be gone, and they will be back to herding goats in forgotten and desolate deserts. But the future belongs to America. And all we have to do is get the hand-wringers, nasty nellies, socialists and scoundrels out of the government, and it will be for the use of us and our posterity. |
| Posted by: Anonymoose 2011-11-07 14:58 |
| #3 Not another Juche believer... |
| Posted by: Bright Pebbles 2011-11-07 12:53 |
| #2 it is now becoming a major gas exporter I wonder why we allow the exportation of a resource we will certainly need? |
| Posted by: Skidmark 2011-11-07 11:37 |
| #1 Until OBumbles makes it illegal. See Offshore Drilling Moratorium. Anything to keep his campaign contributors in the ME happy. |
| Posted by: CrazyFool 2011-11-07 11:01 |