I found this article earlier this week, and my sense is that
this is one of those stories that will shape how we live and do business over
the next 50 years. It’s one of those things that the doom-sayers have not
counted on:
Western energy giants are
increasingly hunting for supplies in rich, developed countries—a shift that
could have profound implications for the industry, global politics and
consumers.
Driving the change is the boom in
unconventionals—the tough kinds of hydrocarbons like shale gas and oil sands
that were once considered too difficult and expensive to extract and are now
being exploited on an unprecedented scale from Australia to Canada.
The U.S. is at the forefront of the
unconventionals revolution. By 2020, shale sources will make up about a third
of total U.S. oil and gas production, according to PFC Energy, a
Washington-based consultancy. By that
time, the U.S. will be the top global oil and gas producer, surpassing Russia
and Saudi Arabia, PFC predicts.
As long as the left is in power and stifles our energy production (and news like this will be used to support their efforts), it will be a long time before we can turn the corner on production.
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