Thursday, July 25, 2013

Oil Sand and Energy Supply in America

So I read an article bout the topic agrees with its claim that a steep increase in the production of oil through hydraulic fracturing (from oil sand) would probably restructure the current supply and demand equilibrium, turning the North America into a long-term energy exporter. This might actually bring the economy back on track and be a possible solution to north america's energy independence. I'm not sure what the major oil-producing countries are going to respond to this but apparently a lot of businesses are coming back to America, which is a form of America's growth in its power. Now America has more cards to play on the table of international relations. Another important point mentioned in the article is that the technology of fracking is what made all these possible, and currently most of the countries haven't acquired this technology. Once China and Russia get it, the market will definitely change agin.

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