The North American Energy Boom
A New Energy Juggernaut Emerges
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  • rheddles2

    And it was done by the private market with virtually no contribution by the government which continues to slow walk, if not deny, permits.

    • Jim__L

      Just think how fast America will shoot forward once this administration and its destructive ideology is consigned to the recycling bin of history!…

      • Andrew Allison

        Assuming it hasn’t succeeded in completely destroying the economy before it goes.

        • Jim__L

          I guess I just have more faith in the ability of Americans to recognize and reverse disastrously mistaken decisions.

          The alternative is too grim to contemplate.

  • TommyTwo

    As an aside: while I consider the US becoming nominally “energy-independent” to be very good news, the second chart clearly shows how OPEC will continue to be critically important. Should the flow of oil to Europe, Japan, or China be impaired, the calamitous consequences will not spare the US.

  • Jacksonian_Libertarian

    I think the oil production for Mexico is vastly over estimated. Pemex oil production is in decline, and while Mexico has passed new laws, there is serious doubt that any oil drillers with their proprietary fracking technology will be interested in developing Mexico’s oil (Mexico has a history of theft/nationalization). Until there is actual drilling and an increased production in Mexico, the trend is the reality, and the trend is down.

  • crocodilechuck

    Keep your shorts on, Walt.

    63% of total oil production globally comes from one tenth of 1% of wells. These are the ‘mighty giants’: Ghawar, East Texas Oil Field, Cantarell………..OOOPS! Cantarell now < 5% of its peak output. When these go (there's a reason why Mexico is no longer the USA's biggest supplier) there will be no replacing them.

    Oh, and instead of breathing your own hyperventilating fumes, better to keep an eye on the 'smart money', and see what they're actually doing (Royal Dutch Shell, in this example):

    http://resourceinsights.blogspot.com.au/2013/12/watch-what-we-do-not-what-we-say-shell.html

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