Returning to my earlier focus on the news concerning U.S.
oil production, I wondered what the international opinions of the development
would be. From Saudi Arabia they are probably (and understandably) pessimistic—the
US would be too if our largest resource might be rendered obsolete.
I found articles on the same subject from the UK (BBC News) and
South Sudan (The New Nation), however, and they were surprisingly unconvinced
that the US would succeed in fulfilling its announcement. Both articles recognized
the danger of the new technology in terms of environmental concerns, while the
New Nation article also highlighted the IEA’s warning that the technology “would
not insulate the US from developments in international markets and remove its
vulnerability to price spikes.” It discourages the popularization of the US as
an “energy island,” and reinforced the lack of feasibility in creating a
country independent of foreign influence.
The New Nation article made one more insight that I found
somewhat disarming. From an international perspective, the author wonders
whether the US will cease to patrol the world’s sea lanes it depends upon to
transfer oil, and whether China will take over this role. Ironically, China is
increasing its dependency on foreign oil while the US attempts to reduce it,
further suggesting that China’s imminent dominance might not be the threat it
appears.
New Nation article link: http://thenewnationbd.com/newsdetails.aspx?newsid=57255
BBC News article link: http://www.bbc.co.uk/news/business-20304848
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