Once again our friends across ‘the pond’ have reported vital information that our media doesn’t seem to think we should be hearing. The implications for our energy costs and even our currency are enormous and are explained in this article as only the British press can do.
Energy crisis is postponed as new gas rescues the world
Engineers have performed their magic once again. The world is not going to run short of energy as soon as feared.
By Ambrose Evans-Pritchard
Published: 5:47PM BST 11 Oct 2009
America is not going to bleed its wealth importing fuel. Russia’s grip on Europe’s gas will weaken. Improvident Britain may avoid paralysing blackouts by mid-decade after all.
The World Gas Conference in Buenos Aires last week was one of those events that shatter assumptions. Advances in technology for extracting gas from shale and methane beds have quickened dramatically, altering the global balance of energy faster than almost anybody expected.
via Energy crisis is postponed as new gas rescues the world – Telegraph.
The author further points out the implications for the increase of reserves, globally are enormous:
The US Energy Department expects shale to meet half of US gas demand within 20 years, if not earlier. Projects are cranking up in eastern France and Poland. Exploration is under way in Australia, India and China.
Texas A&M University said US methods could increase global gas reserves by nine times to 16,000 TCF (trillion cubic feet). Almost a quarter is in China but it may lack the water resources to harness the technology given the depletion of the North China water basin.
Just when the prospects for hyper inflation and the destruction of the value of the dollar seems so possible, they raise this bit of hope!
As for the US, we may soon be looking at an era when gas, wind and solar power, combined with a smarter grid and a switch to electric cars returns the country to near energy self-sufficiency.
This has currency implications. If you strip out the energy deficit, America’s vaulting savings rate may soon bring the current account back into surplus – and that is going to come at somebody else’s expense, chiefly Japan, Germany and, up to a point, China.
When will our own media and our government stop lying to us about the Gore fabricated shortages that seem to insure his wealth well into the future, at the expense of our tax dollars? We should demand open debate on the global energy situation and start to open our eyes to all of the potential consequences. We seem to be more willing to create crises and to then rush to solve them regardless of the other consequences or differing opinions. Our country was founded by people who honored open discussion and debate! Our current government seems to ‘thrive’ in back-room deals and closed door sessions followed by passage of enormous, confusing and obfuscating bills that only the authors have read without a chance for we the voters or even our elected representatives to have a chance to read, let alone debate.
This is tyranny of the highest order! We must stop it while we are still able to speak out!
