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Lookout — The USA is the new oil and gas superpower

Posted By Jo Nova On May 26, 2016 @ 3:18 am In Global Warming | Comments Disabled

“We are living in the midst of a veritable energy boom”

Since 2012, the largest producer of oil and gas in the world has been the United States, and its lead is growing.

The balance has shifted in the last ten years. US production now easily outstrips Russia and Saudi Arabia where the output has not increased much for the last decade.

The American Interest: Don’t Doubt the Strength of U.S. Shale.  h/t GWPF

Oil and gas production

What an innovation nation looks like:

The primary reason for the shift from net importer to net exporter “is we know how to produce natural gas in a very inexpensive way,” [said University of Houston energy economist Ed Hirs]. “And we’re going to be exporting the natural gas out of the U.S. and potentially, we’ll be exporting electricity.”

There’s a little shift in geopolitical freedom — “thanks to shale”.

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