looking beyond borders

foreign policy and global economy

Archive for the tag “fracking”

The U.S. Dominates New Oil And Gas Production

The American fracking for oil and natural gas boom will continue on through the 2020s. And why not? Since fracking took off in 2008, the U.S. has more than doubled our proven oil reserves to ~65 billion barrels. Natural gas reserves have surged over 80% to ~430 trillion cubic feet. Already the largest oil and gas producer, the U.S. is set to increase its share of ~17% of global oil production and ~23% of gas. In the 2020s, the U.S. is set to supply over 60% of new oil and gas.

Read Here – Forbes

Can Saudi Arabia Outlive North America’s New Energy Boom?

Current trends in the global energy market don’t look good for Saudi Arabia. First, the International Energy Agency projected in November 2012 that the United States will surpass the Gulf petrogiant as the world’s top energy producer by 2020. Then, last week, it revealed that North America, buoyed by the rapid development of its unconventional oil industry, is set to dominate global oil production over the next five years. These unforeseen developments not only represent a blow to Saudi Arabia’s prestige but also a potential threat to the country’s long term economic well-being — particularly in the post-Arab Spring era of elevated per-capita government spending.

Read Here – Foreign Policy

The Big Energy Shift

Another milestone in China’s emergence as the world’s largest foreign energy consumer has been reached, with Chinese data indicating it has now become the largest net importer of oil. Amid the emergence of the United States as an energy superpower, China reportedly imported a net 6.12 million barrels of oil per day (bpd) last December, exceeding for the first time U.S. net imports of 5.98 million bopd.

Read Here – The Diplomat

Asian Nations Slow Tap Into Oil Wealth; Slower On Fracking

Oil and gas have long held the promise of untold riches for Southeast Asian countries. Yet, success in the region has been mixed: Brunei has flourished and Malaysia has seen steady progress, but Burma, Cambodia, the Philippines, Vietnam and East Timor have struggled to exploit their reserves.

Read Here – The Diplomat

U.S. Energy Policy After 2012

While energy is not a top-tier issue for the American public, Obama and Romney present very different visions for how the United States will generate and consume energy over the next four years – and perhaps set the stage for the next twenty. They provide a clear choice for American voters and explicit differences for international onlookers seeking to understand the path the country might take in 2013 and beyond. Either will have a significant impact on oil and natural gas supplies on the world market and, at least as important, on the likelihood that the world will make progress in reducing greenhouse gas emissions before 2020.

Read Here – Chatham House

Post Navigation

%d bloggers like this: