Tuesday, December 25, 2012

Global power about to shift to US due to shale oil and gas, largely unreported as eliminates excuse of Saudi scare to confiscate US tax dollars for green scams, no excuse to divert US military to CO2 scare, threat to EU, Goldman Sachs holding CO2 bag

Shale oil and gas "will take western economies off the fiscal rocks." Terrible news for the global left. So criminal media downplays or ignores it:

12/26/12, "The Shale Revolution's Shifting Geopolitics," NY Times op ed, Alan Riley, Alan Riley is a professor of energy law at The City Law School at City University London.

"The shale energy revolution is likely to shift the tectonic plates of global power in ways that are largely beneficial to the West and reinforce U.S. power and influence during the first half of this century. Yet most public discussion of shale’s potential either focuses on the alleged environmental dangers of fracking or on how shale will affect the market price of natural gas.  

Both discussions blind policy makers to the true scale of the shale revolution.

The real impact stems from its effect on the oil market. Shale gas offers the means to vastly increase the supply of fossil fuels for transportation, which will cut into the rising demand for oil — fueled in part by China’s economic growth — that has dominated energy policy making over the last decade. 

There are two major factors in play here. First, the same shale extraction technology of horizontal drilling and hydraulic fracturing can be employed whether the rocks are oil-bearing or gas-bearing. We have already seen over half a million barrels of oil a day flowing from the Bakken field in North Dakota. The recent Harvard-based Belfer Center report — “Oil: The Next Revolution” — suggests that shale oil could be providing America with as much as 6 million barrels a day by 2020. 

The United States imported only 11 million barrels of crude oil a day in 2011. Given the potential for offshore and conventional domestic oil production, this would suggest that by 2020 America could be near energy independence in oil.

However, many supporters of energy independence miss a key point: The major geopolitical impact of shale extraction technology lies less in the fact that America will be more energy self-sufficient than in the consequent displacement of world oil markets by a sharp reduction in U.S. imports. This is likely to be reinforced by the development of shale oil resources in China, Argentina, Ukraine and other places, which will put additional pressure on global oil prices....

However, American self-sufficiency in oil is of greatest concern to the European Union. The danger is that the United States will no longer have any direct interest in ensuring supply flows out of the Gulf. At the very least this will mean that Washington is likely to demand greater European investment in its own energy security. One option for the European Union is to develop natural gas transportation as an energy security hedge. This would also increase pricing pressure on oil producers.

China has even greater incentives to develop its shale gas resources. According to the U.S. Energy Department’s Energy Information Administration, the country’s recoverable resources are larger than those of the United States at 36 trillion cubic meters. The main geostrategic reason for Beijing to develop shale gas for transportation is that the U.S. Navy controls the Pacific and most Chinese oil arrives by tanker. Large scale use of natural gas for transportation would protect China from much of the effect of a U.S. blockade.

By contrast, the outlook for Russia and Saudi Arabia seems bleak. As the decade progresses, shale will be developed worldwide and natural gas infrastructures will be constructed. It is difficult to see how the markets will avoid dropping oil prices.

Geopolitically, the shale revolution strengthens the United States, reduces China’s energy dependence, generates a major global stimulus, which takes the Western economies off the fiscal rocks, while potentially destabilizing both the Russian Federation and Saudi Arabia."...via Free Republic


7/28/10, "The secrets 10 states and Wall Street don't want you to know," by Mark Lagerkvist, NJ Watchdog

"Secrecy and greed are polluting the Regional Greenhouse Gas Initiative, the nation’s first mandatory cap-and-trade system.

Under the RGGI scheme, the smell of profiteering is powerful. New Jersey and nine other Northeast states have sold
The bidders at RGGI auctions include Goldman Sachs, Morgan Stanley, Merrill Lynch, JPMorgan Chase and other Wall Street heavyweights."...


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