This would be a major shift of the world dynamic. When you lessen or eliminate dependence on other nations for things like oil, food, or raw materials, you are firmly in the driver's eat. This could spell disaster for the ME, as N. America is a big client.
And so much for oil being passé.
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Trump's goal of 'energy dominance' could change the global balance of power
The United States is on track to become the world's biggest oil producer and it has big plans for the future
- Tony Seskus · CBC News
Fuelled by technological breakthroughs and cuts to taxes and regulation, the United States is on target to become the world's biggest producer of crude oil in the next five years.
Let that sink in. The U.S will be bigger than Russia and Saudi Arabia.
It would be a remarkable feat and significant, too. It could clear the way for America to redefine its relationship with the world, minus a reliance on overseas oil.
The implications are huge, if hard to predict.
Might it bring chaos if the U.S. chooses to exit the Middle East? Or will it spur Washington to try to broaden its influence? Could Canada, Mexico and America forge an alliance to influence oil prices?
Such questions were purely academic a decade ago.
Now they're part of a broad debate around the potential for American energy self-sufficiency or, in the words of U.S. President Donald Trump, a new "energy dominance." Through the fog of rhetoric, one thing is clear: Change is upon us.
"Energy security is a road map to economic prosperity," U.S. Energy Secretary Rick Perry enthused during an address to a world energy conference this month in Houston.
"America is in the midst of an incredible energy revolution. Energy progress that we're seeing here is due to a cascade of technological breakthroughs driven by innovation.
"These advances have … got powerful implications both here and abroad."
It's been an unimaginable turnaround.
Trump's goal of 'energy dominance' could change the global balance of power - Business - CBC News
And so much for oil being passé.
---
Trump's goal of 'energy dominance' could change the global balance of power
The United States is on track to become the world's biggest oil producer and it has big plans for the future
- Tony Seskus · CBC News
Fuelled by technological breakthroughs and cuts to taxes and regulation, the United States is on target to become the world's biggest producer of crude oil in the next five years.
Let that sink in. The U.S will be bigger than Russia and Saudi Arabia.
It would be a remarkable feat and significant, too. It could clear the way for America to redefine its relationship with the world, minus a reliance on overseas oil.
The implications are huge, if hard to predict.
Might it bring chaos if the U.S. chooses to exit the Middle East? Or will it spur Washington to try to broaden its influence? Could Canada, Mexico and America forge an alliance to influence oil prices?
Such questions were purely academic a decade ago.
Now they're part of a broad debate around the potential for American energy self-sufficiency or, in the words of U.S. President Donald Trump, a new "energy dominance." Through the fog of rhetoric, one thing is clear: Change is upon us.
"Energy security is a road map to economic prosperity," U.S. Energy Secretary Rick Perry enthused during an address to a world energy conference this month in Houston.
"America is in the midst of an incredible energy revolution. Energy progress that we're seeing here is due to a cascade of technological breakthroughs driven by innovation.
"These advances have … got powerful implications both here and abroad."
It's been an unimaginable turnaround.
Trump's goal of 'energy dominance' could change the global balance of power - Business - CBC News
