Publications: The Petroleum Economics Monthly

Energy Independence and The New American Century (January 2012)

 

The title of the January 2012 Petroleum Economics Monthly is bold: “Energy Independence and the New American Century.” It reflects our contention that the United States will achieve energy independence in a little over a decade. In our forthcoming February report, we will go further and assert that US energy independence will lay the groundwork for the New American Century. Both conclusions are controversial.

 

The United States will be energy independent by 2023, the fiftieth anniversary of President Richard M. Nixon announcing his “Project Independence.” By energy independence, we mean the US will export more energy than it imports. In 2023, this country will be exporting natural gas, petroleum products, coal, and possibly crude oil if the federal government lifts prohibitions on the latter. We will also be importing some oil. On balance, though, we will be a net exporter.

 

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