Not only is America now a net petroleum product exporter, but as expert Dave Ernsberger (global director at energy consulting firm Platts) put it, "[i]t looks like a trend that could stay in place for the rest of the decade. The conventional wisdom is that [the] U.S. is this giant black hole sucking in energy from around the world. This changes the dynamic."
The immense non-conventional oil resources literally below our feet have made Big Oil fundamentally reassess its geo-economic worldview.
Where in the past, the major private oil companies went to faraway (and often dangerous) regions like the North African desert, the Caspian Sea, and the Niger Delta, oil companies are now focusing on developed nations -- for a variety of reasons.
well, when that translates to more jobs and permanent low fuel prices at the pump, then i will give a half-heart ‘woooohoooo’, until then, im not getting all excited...
well, when that translates to more jobs and permanent low fuel prices at the pump, then i will give a half-hearted
‘woooohoooo’, until then, im not getting all excited...