FT front-page story on shale gas boom in US already identifiably responsible for additional $90b foreign direct investment flow into US.
Subtitles are telling:
- Investments drive US industrial renaissance
- European companies fear growing divide
Industries that benefit from cheap feedstocks are being targeted, and European counterparts fear they will be at systematic disadvantage in any industry that is fuel-intensive.
Yes, some of these same industries in US argue now for no LNG exports, lest the advantage slip away. But most energy experts say we can export at will and probably raise the MMBTU price by maybe only one dollar. We are now about 8-10$ cheaper than LNG prices in Europe and about $15 less than what Asians (mostly the Japanese) are paying.
So yeah, we can have our cake and eat it too.
Forever?
No, but arguably for a solid generation's time.
So much for "peak oil" determining all.