With huge hydrocarbon finds being unearthed in both conventional and unconventional sectors across the Americas, energy independence is being hyped to epic proportions in the United States. The scorecard now shows 6.5 trillion unconventional barrels of oil in the Americas, running from Canada all the way to Argentina, versus 1.2 trillion conventional barrels in the Middle East and North Africa. The U.S. and Brazil sit comfortably in the middle of the expected windfall, and even Mexico, long lost to the annals of hydrocarbon blunders, boasts major new unconventional reserves.
Given the awesome scale of these figures, it is hardly surprising that explosive geopolitical conclusions are being drawn: The U.S. can declare energy independence; import dependency is practically gone. The deficit can be fixed; dollars will stay in the U.S. rather than filling OPEC’s coffers. Oil will flow between the north and south rather than the east and west. It’s “American oil for American consumers at American prices,” and U.S. superpower status can be maintained far into the 22nd century. ...
To read the rest, sign up to try World Politics Review
- TWO WEEKS FREE.
- Cancel any time.
- After two weeks, just $11.99 monthly or $94.99/year.
Request a free trial for your office or school. Everyone at a given site can get access through our institutional subscriptions.
- Strategic Horizons: U.S. Support for Syrian Rebels Serves Political, not Military, Purposes
- As Climate Changes, Central America Lags on Improving Food Security
- Diplomatic Fallout: Frustrations Mount for Both the U.S. and Its Foes at the U.N.
- Global Insights: For U.S. and South Korea, Missile Defense Looms as Next Big Challenge
- Mexico’s Unfinished Education Reform Key to Pena Nieto’s Economic Agenda