According to this report, Russian, in fact global, fears of American energy dominance were realized this past week when the United States Energy Information Agency (EIA) announced that the US has catapulted past Saudi Arabia as the world’s biggest fuel producer, meaning that they are expected to become almost self-sufficient in oil and gas by 2035, will overtake Russia in gas production by 2015, and Saudi Arabia in oil production by 2017.
So profound has the Obama regimes push for global energy dominance become, this report notes, is that only three nations in history have increased their oil output by at least 900,000 barrels a day and done it in just a year.
The nations are Saudi Arabia in 1974 following the OPEC oil embargo, Iraq in 1991 following the end of the Gulf War sparked by that nation’s invasion of neighboring Kuwait, and the United States in 2012.
The global fears raised by other nations as the United States becomes histories greatest energy powerhouse, this report continues, include the European Union, whose leaders fear this US move will make “competition impossible”, Canada, whose leaders say this has now become a “direct threat to their economy”, Africa’s largest oil producer Nigeria, whose leaders warn their “dominance may soon be history”, and the OPEC nations who warn that US energy production has now become their cartels “greatest threat”.
Critical to note about the United States, this report says, it that this North American nation has the largest known deposits of oil shale in the world of which it is experiencing a “revolution” unseen in all of human history. [Note: Oil shale does not actually contain oil, but a waxy oil precursor known as kerogen.]
This “revolution” in tapping these vast American shale oil reserves, this report says, involves an unconventional drilling process known as hydraulic fracturing (aka fracking), and which the number of these types of wells drilled by the Bush-Obama regimes between 2008 and 2011 in the US now equals 35,000, and as compared with the rest of entire world which during this time have drilled only 190.
Even more astounding, new reports from the US are now stating that vast areas of their Western States, including California and Nevada, are set to expand the number of these fracking wells by over 500,000 within the next two years.