11:34AM
Time's Battleland: NATIONAL SECURITY Death to “Resource Wars”!
Tuesday, May 29, 2012 at 11:34AM
Nice Washington Post piece on Saturday about how the “center of gravity” in global oil exploration and production is shifting to the Western hemisphere. No, the bulk of global conventional oil reserves still sits in the Persian Gulf, but the larger point is worth exploring: we no longer project global futures where East and West logically fight over Middle East energy reserves. Those expected long-term dynamics are collapsing right now before our eyes.
Read the entire post at Time's Battleland blog.
Reader Comments (2)
Is this fracking thing totally safe? Will it lead to increased seismic activity? What impact will it have on ground water?
These aren't questions that will be answered tomorrow, but sticking pipes in the ground and allowing capillary pressure to do the rest of the job will always be much safer (and less expensive) than fracking.
And nobody knows whether big Oil and Gas is telling the truth.
The Obama administration is telling Japan and other allied countries they will have to wait before moving forward on plans to buy American natural gas, people involved in the talks said.
Opponents, including Rep. Ed Markey of Massachusetts and some other congressional Democrats, say the U.S. could boost its energy security by keeping its natural gas at home. Oil-and-gas entrepreneur T. Boone Pickens, in an interview, objected to the idea of selling the gas at a discount to global prices. "You're kind of giving your own stuff away, and it's stupid to do that," said Mr. Pickens, who wants U.S. trucks to use natural gas.
U.S. officials say they are weighing how exports would affect job creation, trade and the domestic price of natural gas. A price spike would hurt consumers and weaken a competitive advantage enjoyed by U.S. manufacturers that use natural gas as a raw material. An Energy Department assessment is due later this year.
http://online.wsj.com/article/SB10001424052702304821304577436470209675022.html?mod=WSJ_hpp_LEFTTopStories