The article is much longer and goes on with several "pearls."The U.S. is the closest it has been in almost 20 years to achieving energy self-sufficiency, a goal the nation has been pursuing since the 1973 Arab oil embargo triggered a recession and led to lines at gasoline stations.Domestic oil output is the highest in eight years. The U.S. is producing so much natural gas that, where the government warned four years ago of a critical need to boost imports, it now may approve an export terminal. Methanex Corp. (MX), the world’s biggest methanol maker, said it will dismantle a factory in Chile and reassemble it in Louisiana to take advantage of low natural gas prices.
And higher mileage standards and federally mandated ethanol use, along with slow economic growth, have curbed demand.
The result: The U.S. has reversed a two-decade-long decline in energy independence, increasing the proportion of demand met from domestic sources over the last six years to an estimated 81 percent through the first 10 months of 2011, according to data compiled by Bloomberg from the U.S. Department of Energy. That would be the highest level since 1992.
A must read.
That note in bold above is not trivial.
Chris provided his own comments:
One last thought on the Bloomberg article linked above. First there was the Internet boom..then we had the huge housing boom and now it's going to be the energy boom. We are going to look back at this time the same way we did for those booms.
It's where all the jobs and innovation will happen for the next decade. The energy boom is spread across the whole country...everyone can get in on this boom no matter where you live, California to NY.I wonder if Obama will take credit like AL gore did with the internet? [Comment: he alreadyhas -- The 2012 State of the Union address.]
Maybe this was obvious but now it's all very clear...this is the countries next major boom...the golden years of energy for our country.
I agree.
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