This is the important part of the article:
America produced 81pc of its total energy needs in the first six months of this year, the highest since 1991. Citigroup thinks US ouput of crude and eqivalents will top 15.6m b/d by 2020, adding up to 3.6m jobs through multiplier effects. North America as a whole will reach 27m b/d - with Canada’s oil sands and Mexico’s deepwater fields - making the region a “new Middle East”.
The implications are momentous. America will no longer need a single drop of oil from the Islamic world. The strategic burden will fall on Europe, which is meekly disarming itself to meet Wolfgang Schauble’s austerity targets. Russia and China will be pleased to help.
The Middle East will then become Europe and China’s problem, not ours. Add that to the industrial renaissance (the name of the game is cheap energy, cheap resources and having them in close proximity) that should come about as well, and you can see why the Middle East and liberals are so desperate to support someone like Obama.
Without Obama or the course prescribe by the left in this country, and with everyone else committing industrial suicide in the name of the Green Religion or Islam (take your pick), the US *could* conceivably become a dominant industrial power the likes of which have never yet been seen because we’d be rocketing forward while the rest of the world is scuttling their industry.
It's worse than that for the Europeans. The Chinese recent threatening behavior towards their neighbors in the South China Sea is because they want to have the vast oil reserves in the are to themselves. The area is believed to have 4 or 5 times the oil of the Gulf of Mexico. China can do without the ME, Europe cannot. Furthermore, the Saudis may become a net importer of energy within 20 years. The Europeans better hope the winds increase to turn those windmills faster.
Build the Keystone pipeline and another 600,000 barrels/day of secure oil will flow into America. Keystone will pass through the Bakken field and get that oil to market also.
Energy is needed to produce and transport virtually every good and service. North America has a comparative advantage in energy and that advantage is growing daily.
Elect Romney and America will be saved from poverty by the wealth beneath your feet.
......The Middle East will then become Europe and China’s problem-——
Increasingly as petrochemical production increases in the Gulf states and Iraq, Europe will be unable to buy feed stock and compete. The industrial states will wither as progress and growth occur elsewhere.