Thursday, April 25, 2013

US Oil and Gas Boom Could Shake Up Global Order

How the US Oil, Gas Boom Could Shake Up Global Order: "Without fanfare, China passed the United States in December to become the world's leading importer of oil—the first time in nearly 40 years that the U.S. didn't own that dubious distinction. That same month, North Dakota, Ohio and Pennsylvania together produced 1.5 million barrels of oil a day—more than Iran exported. As those data points demonstrate, a dramatic shift is occurring in how energy is being produced and consumed around the world—one that could lead to far-reaching changes in the geopolitical order. (Read More: Brent Crude Drops Below $110 After China PMI Data) U.S. policy makers, intelligence analysts and other experts are just beginning to grapple with the ramifications of such a change, which could bring with it both great benefits for the U.S. and potentially dangerous consequences, including the risk of upheaval in countries and regions heavily dependent on oil exports. Most agree the U.S. would be the big winner, in position to reshape its foreign policy and boost its global influence. . . "

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