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America's New Energy Security
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Daniel Yergin cites an estimate by IHS Cambridge Energy Associates which shows oil from shale and dense rock, which was about 1 million barrels a day in 2011, could reach 3 million barrels a day 2020. North Dakota where much of the production is taking place is now fourth in oil production in the U.S. after Texas, Alaska, and California, and is likely to move up to second place. U.S. imports of oil come primarily from Canada 25%, Mexico 11%, Venezuela 9%, and the Persian Gulf 16%. Canadian oil sands development has increased production and the completion of the Keystone pipeline will increase the share of oil imports from Canada. This is shifting the dynamic of oil away from the Persian Gulf, with the volatile politics in the region, and more towards North America.
How new technologies and shale oil changed a world of $150 per barrel upside down- predictions of $150 a barrel by IEA for 2015 in 2007
05/22/2008
Forecasting is a difficult business. New technologies can turn any business upside down. In 2007 the IEA predicted a huge shortfall in oil supplies to meet demand and surging prices over $150 a barrel, as outlined by Neil King in the WSJ that year. Oil supplier countries that depended on ever higher prices face severe economic crisis with oil prices at $50 a barrel in 2015.
Grouped Articles
Energy Watchdog Warns Of Oil-Production Crunch
Wall Street Journal 05/22/2008
Wall Street Journal 12/12/2011
OPEC’s Problem: There Is No Minister of Shale
Wall Street Journal 06/03/2015
Harold Hamm and the U.S. Bakken oil and natural gas fields in North Dakota and Montana
10/01/2011
Huge reserves in oil and natural gas that could make the U.S. energy sufficient in a decade. The prospect of royalties for drilling on federal lands that could reduce the deficit.
Grouped Articles
U.S. Seeks New Rules for Rail Transport of Fuel
Wall Street Journal 07/24/2014
Global Oil Glut Sends Prices Plunging
Wall Street Journal 10/15/2014
How North Dakota Became Saudi Arabia
Wall Street Journal 10/01/2011
Wall Street Journal 11/02/2011
New York Times 11/06/2011
Wall Street Journal 12/12/2011
The proposed U.S.-Canada partnership for the Keystone XL Pipeline project
01/07/2009
This would bring an additional 1.1 million barrels of Canadian oil to the U.S. from Alberta oil sands. The project is being held up by the Obama administration. The Energy Department gave its approval in February 2011, but it is being held up for further environmental studies. Advances in environmental protection for oil sands development have reduced the footprint of the processes used in production of oil. This would reduce imports from the Middle East and have a favorable impact on oil prices.
Grouped Articles
Trade and Oil on Agenda as Obama Visits Canada
New York Times 02/20/2009
Wall Street Journal 07/28/2013
Canada Looks to Sell Its Oil Beyond U.S.
Wall Street Journal 08/23/2013
Keystone XL Review Sees Little Impact on Climate
Wall Street Journal 02/02/2014
Even Without Keystone Pipeline, Oil Has Flowed
Wall Street Journal 02/02/2014
House Passes Bill to Approve Keystone XL Pipeline
Wall Street Journal 11/14/2014
U.S. Energy policy- 2010-2012
04/16/2011
Grouped Articles
Wall Street Journal 04/16/2011
Wall Street Journal 12/12/2011
Wall Street Journal 11/13/2012
Natural gas for trucks and U.S. energy independence
04/11/2011
Grouped Articles
Wall Street Journal 10/30/2013
New York Times 04/11/2011
Gas-to-Liquid Site May Hit $10 Billion
Wall Street Journal 09/14/2011
Wall Street Journal 12/12/2011
Wall Street Journal 03/05/2012
Cheap Natural Gas Unplugs U.S. Nuclear-Power Revival
Wall Street Journal 03/15/2012
Natural gas as the dominant source of new power generation capacity in 2012-2035 (1)
12/12/2011
Energy Information Administration forecast for 2010-2035 shows 58% of new additions of power generation capacity coming from natural gas. The new availability of shale gas is leading to a surge in use of natural gas. Only 4.3% will be nuclear, dampening the development of nuclear energy. Renewables will be 29%. This is a major development in how America looks at energy.
Linked Articles
Cheap Natural Gas Unplugs U.S. Nuclear-Power Revival
Wall Street Journal 03/15/2012
Wall Street Journal 12/12/2011
IHS Energy Associates's Yergin sees shale technologies changing the energy business by 2020, and IEA misses this completely
05/22/2008
Long term forecasting is a difficult business. IEA's 2015 forecast missed the situation in 2015 completely. Yergin was right but did not see how fast this would happen with oil prices down to $50 per barrel in 2015 and prices at the pump below $2.
Linked Articles
Wall Street Journal 12/12/2011
Energy Watchdog Warns Of Oil-Production Crunch
Wall Street Journal 05/22/2008
Shift in U.S. energy dependence away from the Persian Gulf region and the Middle East
04/02/2011
Increase supplies from oil sands in Canada, development of oil and natural gas from shale deposits in the U.S. and the drilling offshore in the Gulf of Mexico are shifting the U.S. away from dependence on the Persian Gulf region for oil.
Linked Articles
Wall Street Journal 12/12/2011
Wall Street Journal 04/02/2011
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