World Power swings back to America

This is a partial article from…

The Telegraph:

H/T Richard

 The American phoenix is slowly rising again. Within five years or so, the US will be well on its way to self-sufficiency in fuel and energy. Manufacturing will have closed the labour gap with China in a clutch of key industries. The current account might even be in surplus.

World power swings back to America

The making of computers, electrical equipment, machinery, autos and other goods may shift back to the US from China. Photo: AP
Ambrose Evans-Pritchard

By , International Business Editor

5:53PM BST 23 Oct 2011 

Assumptions that the Great Republic must inevitably spiral into economic and strategic decline – so like the chatter of the late 1980s, when Japan was in vogue – will seem wildly off the mark by then.

Telegraph readers already know about the “shale gas revolution” that has turned America into the world’s number one producer of natural gas, ahead of Russia.

Less known is that the technology of hydraulic fracturing – breaking rocks with jets of water – will also bring a quantum leap in shale oil supply, mostly from the Bakken fields in North Dakota, Eagle Ford in Texas, and other reserves across the Mid-West.

“The US was the single largest contributor to global oil supply growth last year, with a net 395,000 barrels per day (b/d),” said Francisco Blanch from Bank of America, comparing the Dakota fields to a new North Sea.

Total US shale output is “set to expand dramatically” as fresh sources come on stream, possibly reaching 5.5m b/d by mid-decade. This is a tenfold rise sinc

About Eeyore

Canadian artist and counter-jihad and freedom of speech activist as well as devout Schrödinger's catholic

6 Replies to “World Power swings back to America”

  1. If we can keep the adults in charge we will make the left squirm with our growth, if we can’t keep the adults in charge we will still grow but slower.

  2. Some people here are have to be sent back to basic math classes!
    A country that owes the amount of money that the US owes, plus the continuos warfare and welfare state will never get out of that!
    This article is just propaganda to alienate even further the idiotic pot addicted middle class!
    Wake up!

  3. What about the many things that asian and other nonwhite countries that owed US?
    I even read about the millions that Cambodia owed US, which Cambodians haven’t repay yet . Myr, you should be the one to be sent back for basic maths classes. The West and other generous western people had help to develop Asia and gave so much invaluable unpaid input and only to be looked down inappropriately by people like Myr. With so many ungrateful people like Myr and other ungrateful asians around, it is better that the West pull out from Asia.

  4. some asians and nonwhites just want all the free help that they can get from the west and only in return to bully the west when the west have some problems.

  5. Given the state of the Chinese economy I don’t now if China is going to survive.

    As far as the money owed, it is to be paid back a little at a time, not all at once, and Obama’s economic policies are close to creating massive inflation which will reduce the debt by making the dollar worth less. Simple math may say we are finished but watching the political and economic mess in the world says that things aren’t that simple.

    When you are checking out the money that we have loaned or given to far east check out the amount of money that France still owes us from WWI, there is even more from WWII. Those will never be repaid.

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