• 2 days Shell Oil Trading Head Steps Down After 29 Years
  • 2 days Higher Oil Prices Reduce North American Oil Bankruptcies
  • 2 days Statoil To Boost Exploration Drilling Offshore Norway In 2018
  • 2 days $1.6 Billion Canadian-US Hydropower Project Approved
  • 3 days Venezuela Officially In Default
  • 3 days Iran Prepares To Export LNG To Boost Trade Relations
  • 3 days Keystone Pipeline Leaks 5,000 Barrels Into Farmland
  • 3 days Saudi Oil Minister: Markets Will Not Rebalance By March
  • 3 days Obscure Dutch Firm Wins Venezuelan Oil Block As Debt Tensions Mount
  • 3 days Rosneft Announces Completion Of World’s Longest Well
  • 3 days Ecuador Won’t Ask Exemption From OPEC Oil Production Cuts
  • 4 days Norway’s $1 Trillion Wealth Fund Proposes To Ditch Oil Stocks
  • 4 days Ecuador Seeks To Clear Schlumberger Debt By End-November
  • 4 days Santos Admits It Rejected $7.2B Takeover Bid
  • 4 days U.S. Senate Panel Votes To Open Alaskan Refuge To Drilling
  • 4 days Africa’s Richest Woman Fired From Sonangol
  • 4 days Oil And Gas M&A Deal Appetite Highest Since 2013
  • 4 days Russian Hackers Target British Energy Industry
  • 5 days Venezuela Signs $3.15B Debt Restructuring Deal With Russia
  • 5 days DOJ: Protestors Interfering With Pipeline Construction Will Be Prosecuted
  • 5 days Lower Oil Prices Benefit European Refiners
  • 5 days World’s Biggest Private Equity Firm Raises $1 Billion To Invest In Oil
  • 5 days Oil Prices Tank After API Reports Strong Build In Crude Inventories
  • 5 days Iraq Oil Revenue Not Enough For Sustainable Development
  • 6 days Sudan In Talks With Foreign Oil Firms To Boost Crude Production
  • 6 days Shell: Four Oil Platforms Shut In Gulf Of Mexico After Fire
  • 6 days OPEC To Recruit New Members To Fight Market Imbalance
  • 6 days Green Groups Want Norway’s Arctic Oil Drilling Licenses Canceled
  • 6 days Venezuelan Oil Output Drops To Lowest In 28 Years
  • 6 days Shale Production Rises By 80,000 BPD In Latest EIA Forecasts
  • 6 days GE Considers Selling Baker Hughes Assets
  • 6 days Eni To Address Barents Sea Regulatory Breaches By Dec 11
  • 6 days Saudi Aramco To Invest $300 Billion In Upstream Projects
  • 7 days Aramco To List Shares In Hong Kong ‘For Sure’
  • 7 days BP CEO Sees Venezuela As Oil’s Wildcard
  • 7 days Iran Denies Involvement In Bahrain Oil Pipeline Blast
  • 9 days The Oil Rig Drilling 10 Miles Under The Sea
  • 9 days Baghdad Agrees To Ship Kirkuk Oil To Iran
  • 9 days Another Group Joins Niger Delta Avengers’ Ceasefire Boycott
  • 9 days Italy Looks To Phase Out Coal-Fired Electricity By 2025
Falling Iraqi Oil Output Drags OPEC Production Down

Falling Iraqi Oil Output Drags OPEC Production Down

OPEC’s total crude production has…

Why Achieving Energy Independence will Change Nothing for the US

Why Achieving Energy Independence will Change Nothing for the US

According to the IEA’s World Energy Outlook 2012, the US will become a net energy exporter by 2035, due to technological developments which have increased the extraction efficiency of both oil and natural gas wells.

Many hope that upon achieving energy independence, the US would also earn some freedom from the Middle East and the constant troubles and conflicts that it gets involved in. In fact as an energy exporter it may find itself with more power over other nations.

This hope of liberation from world energy politics as a result of energy independence offers a huge over-simplification the situation, and of how energy runs through the core of our society.

Many issues stand in the way of the US being able to declare energy independence, to such an extent that many experts are uncertain if it is even possible. Firstly there are technical issues, such as how easy it will be to develop deep-water oil rigs, hydraulic fracturing wells, and oil sands extraction technologies on a large scale. Economic issues arise with the possibility that trying to extract the oil using these costly methods could raise its price and mean that it cannot compete with oil on the international market that has been extracted from cheaper, traditional sources.

Related Article: Keystone XL: Welcome to the Proxy Energy War

Then there is also the fact that if by some fortune the US does manage to achieve energy independence, it does not mean that it can leave the Middle East. Some of its relationships there are multidimensional and will not be voided so easily.

Truly, in a world of economic interdependence the US economy is just as vulnerable to other economies as ever. Even if it managed to achieve energy independence, it could never achieve economic independence, and whilst the other countries rely on energy imports and exports the US will be affected by the international energy market.

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News