One of those small diversions from my routine - below's the comment I posted on a Linkedin article "OilBoom 2.0 – An American Dream Updated" by Christof Rühl, Chief Economist at BP.
I was essentially answering the questions (in italics) raised by Christof in the closing paragraph of his article...
What triggered it?.... Accident? ....The North American resource base?.... Markets?
The trigger is a no-brainer really, the need for fuel independence & dominance (Markets?) in that order... in any order..........Accident? probably the technique of fracking was indeed one. Given the need & the refined technology to exploit the resource base, yet again we dreamed-in the improbably hypothetical terraforming into reality
What are the implications?
It sounds like;
- Peak-Oil 2020 just got itself a mega top-up &
- The globe can look forward to balmier climes :-)
Considering the environmental precedents being set proactively by the USA, this trend of course will catch-up soon around the world, anti-fracking doomsayers notwithstanding.