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
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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.
"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
- $729 million in carbon dioxide permits since 2008.
.
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