Ongoing reports about the state of global renewable energy tends to ebb and flow, but right now, it appears that the United States is the best situated to be the leader in the burgeoning “energy revolution.” The stakes have never been higher, for both political and economic reasons, for the United States to take an aggressive approach to pursuing new sources of energy domestically, with experts likening America’s resources right at home to those in the Middle East. What would it mean if America became the new leader in energy?
According to OZY, “Booming domestic energy supplies mean cheaper fuel, more influence on the world stage and a potential resurgence of American industry,” of what it calls the “American Oil Rush.” Recent reports explain that the North American production of liquid fuel like oil, gas, and biofuels, could nearly double between 2010 and 2022, producing tens of millions of barrels daily. A domestic energy boom would significantly improve foreign relations, the American economy, and a whole range of other industries.
According to a recent article penned by David Petraeus, chairman of the KKR Global Institute, and prolific American banker Robert Zoellick, the future of the United States’ economy and energy endeavors looks remarkably prosperous. Petraeus and Zoellick explain, “Oil and gas production in Canada and the United States is soaring. The United States is now the world’s largest natural gas producer and, by 2016, could be its largest crude oil producer.” They also refer to North America as “the epicenter of the energy revolution,” asserting that if the United States, Canada, and Mexico were to combine forces, it would result in a most formidable competitor to all other global energy sources.
Learn more about the North American energy boom by visiting OZY’s coverage of the topic.