WTI oil is nearing $100 a barrel. The price is currently just below $98 despite ample US oil inventories. Unfortunately, the civil war in Syria may have wider implications. Russia and the United States are at opposing sides of the table on the conflict. Is diplomacy off the table? Reuters reported: “Late last week, Washington angered the Kremlin by authorising U.S. military support for the Syrian rebels opposed to Assad. Putin called Assad’s foes flesh-eating cannibals.”
As to the shale oil boom, the time frame for the boom is uncertain, and the expense of these wells is too high to be a realistic competitor to alternative energies in the future.
Shale oil is a poor energy strategy for the United States. Many politicians are failing to recognize a major turning point in energy, which is going to make them look foolish in time.
The United States is driving towards an alternative energies model with electric cars leading the vanguard. Mayor Greg Ballard of Indianapolis and Mayor R. Rex Parris of Lancaster, California, are two exceptional leaders in the new electric energy age.
Conventional oil, the cheap oil, has peaked. The price of a barrel of oil tells the story. The Ghawar oil field in Saudi Arabia best symbolizes the story. And, recent solar development plans in Saudi Arabia are a peek into the future. Many Americans have come to recognize the potential of alternative energies and electric cars, which has the United States poised to lead the great energy transformation ahead.
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