The success of American drillers in coaxing fossil fuels from shale rock has the potential to boost production so much that it may deny OPEC the power to set global oil and gasoline prices, an intelligence advisory panel concluded.
Rising domestic production from hydraulic fracturing is expanding U.S. supplies, which would shift the balance of power in global energy markets, according to the report by the National Intelligence Council released Monday. The council, an adviser to the director of national intelligence, publishes a report every four years to aid policymakers' long-term planning.
As the United States adds supply, the Organization of Petroleum Exporting Countries' influence over prices would wane, according to the report that echoes previous studies that project benefits from a drill process known as fracking.
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"In a tectonic shift, energy independence is not unrealistic for the U.S. in as short a period as 10-20 years," the report states.
Faster please. It's interesting that
OPEC states funded an anti-fracking film starring actor and environmental activist Matt Damon.
Who would have thought that Hollywood environmentalists would find themselves aligned with Persian Gulf oil barons?
But the strange politics of energy have managed to bring the greens into line with the OPEC-member United Arab Emerites on the issue of fracking.
"Promised Land" is a new film starring and written by Matt Damon and John Krasinski, based on a story by San Francisco-based writer Dave Eggers. In the film, Damon and actress Frances McDormand play a team that shows in rural town hard hit by economic decline, offering to pay big money for drilling rights ...
The more interesting twist here isn’t in the move—it’s in the movie’s creation. The film was produced “in association with” Image Media Abu Dhabi, a subsidiary of Abu Dhabi Media, as first reported by the Heritage Foundation. Abu Dhabi Media—which has never had a role in a major American film before—is wholly owned by the government of the United Arab Emirates, a small but extremely wealthy federation of absolute monarchies along the southern coast of the Persian Gulf.
I'm sure it's totally because the United Arab Emirates are very concerned about ground water contamination and flaming taps in middle America.
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