National news organizations have been reporting lately about the likelihood of the United States becoming energy independent, a possibility that would shake up the world to Americans’ benefit.
There’s even speculation that the United States could begin exporting oil.
New or renewed oil production in several states, notably in North Dakota, is contributing to a changing world order in energy production.
“The United States is reaping the benefits of an energy boom created by new drilling technologies that have unlocked vast domestic oil and natural gas reserves,” according to a recent special report by NBC News/CNBC. (See http://www.cnbc.com/id/100606163).
“Coupled with decreasing demand due to energy efficiency and continued cultivation of alternative energy sources, an increasing number of experts believe the U.S. could achieve energy independence by the end of the decade - realizing a dream born during the gas crisis of 1973,” NBC News/CNBC reports.
Meanwhile, The Wall Street Journal reported April 3 that the U.S. energy industry is talking about something considered unthinkable a few years ago: the possibility of the United States exporting crude oil.
“Congress largely barred such exports after the 1970s Arab oil embargo in a step to protect U.S. oil supplies. But with domestic production booming, energy-company executives are questioning whether the U.S. needs every drop of petroleum it extracts,” the Journal reported. (http://online.wsj.com/article/SB10001424127887323361804578389061086381802.html).
The possibility of the United States becoming an oil exporter any time soon seems unlikely because of the perceived impact that could have on American consumers. However, achieving energy independence certainly would be a welcome change. North Dakota stands to be a major contributor to that status.