Saudi America?

The Telegraph

The North American continent is set to surpass the Middle East for energy resources:

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.

 


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  • Jackhenderson00

    A couple of bipartisan issues here – Reducing America’s dependency of foreign oil and decrease unemployment with shovel ready jobs.
    ENERGY is the key here. There is a treasure trove of energy waiting to be tapped. Sure, encourage R & D on green projects, so they might be a viable energy source in the future, but for now, America needs to drill, drill, drill and in the process employ many, many, many people.

  • ConwayCaptain

    If this is correct it changes the whole ball game.

    The ME, Venezuela etc would have a massive decrease in income and that includes Iran.  Europe coulod get its oil from the US, a 10 day if that voyage across the N Atlantic instead of weeks for the supertankers round the Cape.

    The Suez would lose revenue from the tanker traffic and with Mega Box Boats going round the Cape even more.

    The US debt would rduce exponentionally thus releasing the thrttle ho;ld the PRC has on T Bonds.

    The US economy in manufacturing would be revived and with an article in this mornings NZH that Nike have a new shoe which they could manufacture at about the same price but closer to the market that could mean even more jobs.

    If the UK could then gets its oil from the Fa;lklands and pay in GBP it would mean a resurgance of the UK and the USA.  Now all the UK would need would be Daniel Hannan as PM and get out of the EU

  • ConwayCaptain

    If this is correct it changes the whole ball game.

    The ME, Venezuela etc would have a massive decrease in income and that includes Iran.  Europe coulod get its oil from the US, a 10 day if that voyage across the N Atlantic instead of weeks for the supertankers round the Cape.

    The Suez would lose revenue from the tanker traffic and with Mega Box Boats going round the Cape even more.

    The US debt would rduce exponentionally thus releasing the thrttle ho;ld the PRC has on T Bonds.

    The US economy in manufacturing would be revived and with an article in this mornings NZH that Nike have a new shoe which they could manufacture at about the same price but closer to the market that could mean even more jobs.

    If the UK could then gets its oil from the Fa;lklands and pay in GBP it would mean a resurgance of the UK and the USA.  Now all the UK would need would be Daniel Hannan as PM and get out of the EU

  • ConwayCaptain

    Oh and we need oil here if we dont have the Greenies, Mana and Liebor stopping it

    • Gazzaw

      Absolutely CC. A nice little arrangement with Australia, ASEAN, China & Japan to control our own regional oil supplies are just what we need. Maori opposition is all about koha, nothing more, and once that deal is fixed labour will fall into line leaving the Greens out on a political limb.

  • Kiwidon

    We need oil BUT it will be a battle!
    On a recent road trip around East Cape, we were shocked at the dozens “No Drilling, No Oil” etc signs, all the way from Opotiki through to Gisborne.
    I suppose adding  ” = No Dole” might have been provocative?

    • thor42

      There *might* be another way.
      The US military is **massively** cranking up its push to get oil from algae. 
      http://www.guardian.co.uk/environment/2010/feb/13/algae-solve-pentagon-fuel-problem

      Quote – “”Darpa has achieved the base goal to date,” she said. “Oil from algae is projected at $2 per gallon, headed towards $1 per gallon.” 

      The big “if”, of course, is if and when the US military share this technology with the rest of the world.
      I think they eventually will do so.

      • Steve P

        “The article mentions that they already have a plant churning out 50 million gallons of oil a year, so that’s a good start.”
        Excellent. That’s enough to supply the entire US for… 1 1/2 hours.

      • steven

         Algae wont cut it…..though the US military dont care about costs, unlike businesses who would wilt at the cost of bio-deisel from algae….

  • Grandstream

    The bad news here is that by the NZ sees common sense and minesa small percentage of our land, the resources boom will be over, and as you wouldexpect, we will be yesterdays news !

  • steven

    I think you should look at the reality behind this claim because its hogwash.

    regards

    • Frederico

       Jesus H Christ Bernards left the gate to the asylum open….IMHO

  • Vikingonmars

    Oil wells going in the gound all over the place. Doco on telly the other night.

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