North America has the potential to be energy world's next Middle East, report argues

The Telegraph ^ | 4:29PM GMT 22 Mar 2012 | Richard Blackden

[mamelukesabre]

North America's energy sector has the potential to drive a "remarkable resurgence" that could see the Continent become the new Middle East in shaping the global supply of gas and oil, a new report has claimed. Deepwater drilling in the Gulf of Mexico, tapping shale deposits for gas and oil and Canada's oil sands are among the ingredients that could see North America's production of oil and natural gas liquids almost double to 26.6m barrels a day by 2020, according to a report by analysts at Citigroup. "The energy sector in the next few decades could drive an extraordinary and timely revitalisation and reindustralisation of the US economy," the 80-page report said. The vexed question of America's future energy needs and how to meet them has dominated the battle for The White House in recent weeks, as the Republican challengers blame President Barack Obama for the recent rise in petrol prices. Experts say the subject is also gaining political traction among both Republicans and Democrats because the US is at an important crossroads on its future energy policy. 2011 was the first year since 1949 that the country exported more petroleum products than it imported. Some of that was down to new supply, but declining domestic demand also played a role. US oil demand fell to 18.8m barrels a day last year, down almost 10pc from 2005, according to the Energy Department. The report predicts that the declining US demand for petroleum products, driven largely by the downturn, will continue as fuel efficient technologies are more widely adopted. That, too, could contribute to making North America the pivotal player in shaping global supply. "The growing Continental surplus of hydrocarbons points to North America effectively becoming the new Middle East by the next decade,"

[mamelukesabre]

...as the old 80s song said: "the future's so bright, I gotta wear shades".

provided we get the crooked commie thugs voted out this November, that is.

[NoLibZone]

NeoCons want the US to end its dependency on Middle East energy.

[Chode]

so much for PEAK OIL!!!

[mamelukesabre]

Add atomic power to this magnificent increase in natural gas we’ve got coming, and we could have more energy in north america than the rest of the world combined.

[Dilbert San Diego]

No, the liberals can never accept this. To them we have to have wind and solar and ocean wave power, not more fossil fuel development. We have to worry about polar bears and global warming and all that. No way will liberals want to develop these resources.

[Army Air Corps]

Two words: Political Will.
Canada seems to have the political will to exploit her vast petroleum riches.

[subterfuge]

this is why it is so important to keep up the charade of “peak oil” and that there is no fossil fuels to be had in north america. the globlist/communists are just SO CLOSE to pushing the west over the edge they can taste it. It’s very likely that major civil unrest will occur just prior to, and definitely diretly after, OweBama loses in November.

[subterfuge]

this is why it is so important to keep up the charade of “peak oil” and that there is no fossil fuels to be had in north america. the globlist/communists are just SO CLOSE to pushing the west over the edge they can taste it. It’s very likely that major civil unrest will occur just prior to, and definitely diretly after, OweBama loses in November.

[sjmjax]

Not if Obama, the Democrats and environmentalists have anything to say about it!

[BobP]

OBAMA OR AMERICA, YOU CAN'T HAVE BOTH!!!!

PASS IT ON.

[hadaclueonce]

The Greens will never allow it!

[aruanan]

That, too, could contribute to making North America the pivotal player in shaping global supply. "The growing Continental surplus of hydrocarbons points to North America effectively becoming the new Middle East by the next decade,"

And then we undercut OPEC and make them once again the sleepy backwaters they were for centuries. Advances in technology will do for petroleum what they did for aluminum, once more expensive than platinum and gold.