I don’t want to kill the dream of U.S. energy independence but the fact is it won’t become a reality overnight. It’s entirely possible, however, that the North American continent [Canada, the U.S. and Mexico] can achieve energy independence within the next decade. [Let me explain.]
So writes Tyler Laundon (wyattresearch.com) in edited excerpts from his original article* entitled Is U.S. Independence A Pipe Dream?.
[The following article is presented by Lorimer Wilson, editor of www.FinancialArticleSummariesToday.com and www.munKNEE.com and the FREE Market Intelligence Report newsletter (sample here – register here) and may have been edited ([ ]), abridged (…) and/or reformatted (some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. This paragraph must be included in any article re-posting to avoid copyright infringement.]
Laundon goes on to say in further edited, and perhaps in some places paraphrased, excerpts:
In 2012 the U.S. imported 28% of its oil from Canada, and another 11% from Mexico…As the following chart shows, the U.S. ramp in oil and gas production is forecast to get the continent nearly 75% of the way to energy independence by 2022. Adding Canada’s production bumps that figure up closer to 90%, and Mexican production tops it off. That’s a good thing for the entire region, since cross-border trade with these partners is essentially care-free when compared to trade with much of the Middle East.
The key to achieving this goal is safe and effective use of natural gas. While newly discovered oil will play a major role – U.S. oil production jumped by 14% in 2012 – natural gas represents the biggest opportunity for North America to go it alone. That’s because, relatively speaking, shale gas wells are typically more productive than shale oil wells.
Due to technological advances in fracking and horizontal drilling, production of natural gas in the U.S. has increased by 33% since 2005 and it’s only going to increase from here. In fact, the U.S. is likely to grow natural gas production at such a rampant rate – by 44% between 2011 and 2040 – that the (EIA) even predicts that the U.S. will be a net exporter of natural gas by 2020…
The boom in North America’s energy production is reducing U.S. reliance on foreign crude oil. Hopefully that will mean fewer energy-related conflicts throughout the rest of the world in the coming years.
[Editor’s Note: The author’s views and conclusions in the above article are unaltered and no personal comments have been included to maintain the integrity of the original post. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.]
The United States is not going to become energy independent because of tight oil. Period. Reports to the contrary are an illusion of U.S. energy independence based on unrealistic assumptions and projections about the long-term potential of oil production from tight formations like the Bakken Shale in North Dakota and the Eagle Ford Shale in Texas. There are several compelling reasons for this [as outlined below]. Words: 575 Read More »
The shale revolution has come as a surprise to many, but natural gas is now so plentiful and cheap that it could be an energy game changer. This infographic explores natural gas, its properties, natural gas market dynamics, supply forecasts, demand, the shale revolution, and the switch from coal to natural gas.
Natural gas has the potential to bridge the gap between the current oil dominated energy mix and sustainable renewables. It’s cheap, abundant, and the cleanest fossil fuel in the world. In fact, at today’s consumption rates, estimated US natural gas resources could be used to supply domestic electricity generation for 52 years.That being said, shale gas is trapped thousands of feet underground. How do we extract it and what does the process look like? The infographic below has all the details.
New gas technology such as hydraulic fracturing (fracking) and horizontal drilling have changed the complexion of natural gas in North America. This infographic explores natural gas, its properties, natural gas market dynamics, supply forecasts, demand, the shale revolution, and the switch from coal to natural gas. We also raise questions about methane leakage and hydraulic fracturing.
Marathon Oil has a great animation on the basics of hydraulic fracturing or “fracking.” It explains how horizontal drilling works and explains the roles of water and sand. Take a look.
Natural gas is increasingly becoming an important fuel in meeting the global energy needs. Let’s take a quick look at the largest natural gas fields in the world. Words: 300
US LNG should be rushed into service inside the USA to reduce our dependance on Foreign Energy, not shipped overseas to “JUST” make big money for our Big Energy off shore businesses that pay little to no US taxes!
Build multi-fuel vehicles and the LNG/LH2 distribution grid to “fuel” them!
A short-term energy solution:
Add a huge export tax to every cubic foot of LNG shipped outside the USA and then use that money to install ever more solar…
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US LNG should be rushed into service inside the USA to reduce our dependance on Foreign Energy, not shipped overseas to “JUST” make big money for our Big Energy off shore businesses that pay little to no US taxes!
Build multi-fuel vehicles and the LNG/LH2 distribution grid to “fuel” them!
A short-term energy solution:
Add a huge export tax to every cubic foot of LNG shipped outside the USA and then use that money to install ever more solar…