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jerryking : shale_oil   9

Windfall, by Meghan O’Sullivan
Windfall: How the New Energy Abundance Upends Global Politics and Strengthens America’s Power, by Meghan L O’Sullivan, Simon and Schuster $29.00

the shale revolution has meant the US has become a leading global oil producer and net exporter of natural gas. Extraction from shale rock has upended global oil and gas markets, but could also have geopolitical ramifications. For most of the 20th century, western powers were locked in a scramble for oil across the globe. So what happens when technology unlocks substantial supply on home turf?

According to Meghan O’Sullivan, a professor at the Harvard Kennedy School, the answer is a geopolitical shift that should benefit the US. She provides a powerful argument for how America should capitalize on the “New Energy Abundance”. Having a domestic supply of oil and gas not only strengthens the US economy, it can also provide leverage globally......US gas has transferred low prices to Europe and also offers an alternative source of supply. That “has helped make Europe less vulnerable to one of Russia’s longstanding foreign policy tools — the political manipulation of natural gas markets”, O’Sullivan writes......the book details the benefits to US “hard” as well as “soft” power,....It will not lead to reduced US involvement in the Middle East, .....Nor can the US ever be self-sufficient to provide all the oil it needs,.....The book points out that energy is likely to be a major future determinant of geopolitics....China’s One Belt One Road project shows Xi Jinping’s intent to change the strategic orientation of the Eurasian landmass......a challenge to O’Sullivan’s thesis is that renewables and electric vehicles could drive seismic shifts. If China becomes the Saudi Arabia of batteries, will this give it greater influence? What about those who control the raw materials needed, from lithium to cobalt? O’Sullivan hints at this in her introduction, saying we should expect renewables “eventually to have major repercussions for global politics”. These could include cartels around lithium or the state collapse of some oil producers.
nonfiction  books  fracking  energy  natural_gas  soft_power  policy_tools  shale_oil  hydraulic_fracturing  pipelines  oil_industry  geopolitics  renewable  electric_cars  batteries  One_Belt_One_Road  Xi_Jinping 
december 2017 by jerryking
It’s a big fracking world out there, and people are getting angry - The Globe and Mail
Jun. 21 2013 | The Globe and Mail | By Shawn McCarthy who reviews The Power Surge: Energy, Opportunity and the Battle for America’s Future
by Author Michael Levi.

Levi suggests a grand bargain: Environmentalists should focus less on “stopping things” and more on building support for legislation that will create incentives to cut consumption of coal, oil and, eventually, natural gas. Industry should encourage market-based incentives to reduce carbon emissions and accept reasonable regulation, even as they pursue greater domestic oil and gas production.


Published Friday, , 12:00 AM EDT

Last updated Friday, Jun. 21 2013,
energy  book_reviews  books  natural_gas  natural_resources  fracking  shale_oil  hydraulic_fracturing  pipelines  oil_industry 
june 2013 by jerryking
True innovation doesn’t flow from a pipeline
Feb. 22 2013 | The Globe and Mail |Konrad Yakabuski.

... If the oil companies can’t ship raw Canadian resources using that 150-year-old technology, they will rely on an even older one – rail. And if not rail, they might just float their bitumen on barges down the Mississippi.

Huckleberry Finn might have marvelled at this inventiveness, but it doesn’t quite cut it as a 21st-century national strategy for wealth creation. Yet our frantic obsession with exporting minimally processed bitumen is sucking up all the oxygen in the national conversation. Getting Alberta’s oil to market is “the most important economic issue” facing the country, says former federal cabinet minister Jim Prentice. There is “no more critical issue facing Canada today,” adds Enbridge chief executive Al Monaco.

In fact, the most critical issue facing Canada today may just be figuring out why we find ourselves in this situation. Raw resources can be a tremendous source of income, but they are volatile, and we’ve always known that overreliance on them is a recipe for economic stuntedness. As Bank of Canada Governor Mark Carney says: “Real wealth is built through innovation.”

Innovation is not wholly absent from Canada’s oil patch. But it’s hardly a first line of business. You’d think it would be a top priority, given the vexatious characteristics of Alberta bitumen, the oil sands’ distressing environmental footprint and the Canadian industry’s growing global image problem. Even in boom times, however, the Canadian oil and gas industry spends a piddling proportion of its revenues on research and development......Last week, PricewaterhouseCoopers predicted that the coming boom in global shale oil production could slash the price of crude by $50 (U.S.) a barrel over the next two decades. “One effect will be to cut the need for expensive, environmentally destructive extraction techniques like the Arctic and tar sands,” the head of PwC’s oil and gas team told Reuters.... the real issue facing Ontario is its failure to make the shift from making low-tech goods to advanced manufacturing, the only kind that can support middle-class wages. Governments have showered the industry with tens of billions of dollars trying to make Canadian firms more innovative, to little avail. Cash-strapped and fed up, federal Finance Minister Jim Flaherty slashed R&D tax credits in last year’s budget. The result will be even less innovation, as domestic companies cut back and foreign-owned firms shift R&D elsewhere.

“Canada’s problem,” says Robert Atkinson, the author of Innovation Economics, “is that it’s not Germany, which has a much better engineering innovation system, and it’s not the U.S., which has a very good system of science-based entrepreneurship. You’re mediocre in both.”
Keystone_XL  pipelines  crossborder  oil_industry  Mark_Carney  Ontario  innovation  oil_patch  wealth_creation  books  natural_gas  natural_resources  fracking  shale_oil  hydraulic_fracturing  Konrad_Yakabuski  oil_sands  complacency  mediocrity  commodities  volatility  cash-strapped  national_strategies  environmental_footprint 
march 2013 by jerryking
China needs West's energy know-how, not resources
November 16, 2012 | Reuters | Christopher Swan.

A change in tactic could smooth China's path. The country has plenty of its own hydrocarbons and lacks only the know-how to extract them. In fact, at about 36 trillion cubic metres, China's shale gas reserves are estimated by the U.S. government to be 50 per cent larger than those of the United States. Acquiring services and technology companies would help increase domestic output.

Targeting a giant like Halliburton might stir the same sort of resistance China experiences now. There are, however, plenty of smaller rivals that probably wouldn't.
China  CNOOC  Halliburton  mergers_&_acquisitions  M&A  nationalism  shale_oil  hydraulic_fracturing  backlash  protectionism  economic_nationalism  knowledge 
december 2012 by jerryking
WSJ: Galleon and the Trouble With Insider Trading
Jan/Feb 2010 | The Corporate Board | Andy Kessler.

Information now travels at the speed of light. The edge to human traders
is mostly gone, arbitraged out by fast computers.
Near-term blips in stocks will always be driven by those with industry
contacts, legal or illegal. The only way to truly beat the market long
term is to use your head, think out long-term trends, figure out where
productivity and therefore wealth is being created in the economy,
and invest alongside it. This might include investing in wireless commerce, gigabit broadband, personalized prescription drugs, oil shale extraction, or electric smart grids that can better allocate power to where it is needed.
**********************************************************************
[January 06, 2020 |WSJ| Tech Will Rule These ’20s, Too by Andy Kessler]
So what’s next? My fundamental rule for finding growth trends is that you need to see viable technologies today, and then predict which ones will get cheaper and better over time. Microprocessors, storage, bandwidth—all still going strong after half a century.
2020s  alpha  Andy_Kessler  arbitrage  beat_the_market  broadband  commoditization_of_information  hydraulic_fracturing  ideas  insider_trading  JCK  long-term  personalization  power_grid  productivity  productivity_payoffs  Raj_Rajaratnam  shale_oil  smart_grid  strategic_thinking  technology  traders  trends  trend_spotting  wealth_creation 
june 2011 by jerryking

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