World Energy Outlook 2012November 15, 2012
The IEA released its annual World Energy Outlook report on Monday. It has received a lot of mainstream notice because of its predictions that the US will overtake Saudi Arabia in oil production by 2017, and surpass Russia in natural gas production even sooner.
Readers of this blog are not surprised, as we have been predicting this outcome for years. Indeed, we go even further: through technology promotion and a national environmental/energy policy mix that:
- takes environmental concerns into account,
- emphasizes carbon capture sequestration (CCS) and utilization (CCU),
- promotes coal-to-liquid (CTL) and gas-to-liquid (GTL) technologies in conjunction with (2) above
- advances de-carbonization by embracing the Methanol economy
- opens the outer continental shelf and productive federal lands to resource production
then the United States can become within a generation the worlds largest fossil fuel producing, consuming, and exporting nation all at the same time. Such a policy would eliminate the trade deficit, the budget deficit, send the economy on a long term growth trajectory, and secure another century of the Pax Americana.