Foreign energy dependence is one of the dominant issue in international and national politics. Whether it is oil in the Middle East or solar cells out of China, it seems as if every way we turn, our addiction to energy in the United States has created strained relationships globally.
However, traditionally most of the external dependence on energy has been tied to a very literally importation of energy goods. Obviously, it is easy to consider shipping oil from the Middle East to America. It a very one way process. Put the oil on a boat, ship it, and then further refine and distribute it. In fact, conventionally, most “energy” imports were treated just like imports.
Yet, one of the most dominant shifts in energy policy is currently underway. Historically, most of the energy imports have occurred and been operated by American (or in some cases) European companies. Much like colonists of old, traditional oil barons have infiltrated foreign lands, set up shop, and extracted the oil in exchange for a fee. Until the rise of OPEC and the nationalization of some (yet not all) oil fields, this was the primary mechanism for oil, and therefore energy, procurement.
However, the time of the U.S. oil exploitation is over. And not only is it over, it appears to be in reverse. Over the past forty years all of the old oil prime companies, have all but fallen by the wayside. The days of the big oil barons has passed into a sleeker, nimbler market with fresh faces (or at least logos) with the exception of BP. Many of these companies transcend national boundaries and therefore flirt within the realm of deregulation and not truly wealth importation.
To make matters even more interesting and perplexing, recently, a Chinese company called Sinopec has bought a large number of shares in the American natural gas company known as Chesapeake Energy. So, in what used to be a solely American operation and development has now become a Chinese one. This dynamic has created a circumstance in which internal wealth is being funneled out all due to an American undying need for energy.
So what is the solution, both economic and societal? Can we really continue to increase our energy expenditures when we are forced to deal with energy ‘tariffs’ in a way both home and abroad? When the very energy that we create at home is funneling wealth out of the country, does it make sense to continue down the path we are on?
Big questions are often asked. However, rarely do answers arise (at least for the most part). Whether or not there is a definitive answer, I do not know, but one can only ponder the potential implications of a universal energy policy that actually made sense for America. Not only would the recourse be huge here, but it would also send a serious message to the entire global community.
http://www.forbes.com/sites/matthewhulbert/2012/06/20/sinopec-chesapeakes-salvation/
As always for all your energy news and thoughts visit www.energygridiq.com today.
No comments:
Post a Comment