US Energy Independence

If your looking for new investment ideas or a job for that matter try looking into America's New Energy Security.  In this WSJ piece,  Daniel Yergin  a noted author and peak oil theorist gives his ideas and points on a less energy dependent US.  There are still debates raging as far as the environmental impact that fracking and extracting oil from sand in Canada has on the eco system.  Needless to say it's much safer to get oil from home or our friends in Canada that Iran and Venezuela.

Here are a few take aways from the WSJ article

• U.S. petroleum imports, on a net basis, reached their peak—60%—of domestic consumption in 2005. Since then, they have been going in the other direction. They are now down to 46%
• U.S. oil consumption reached what might be called "peak demand" in 2005 and has since declined. The country has become more efficient in its use of petroleum, and that will continue as vehicle fuel economy goes up. The economic slump has also muffled demand.
• U.S. crude oil output has risen by 18% since 2008
• Oil extracted from shale also means lower imports, a lower bill for these imports, and substantial job creation. Thanks to tight oil, North Dakota is now America's fourth largest oil-producing state after Texas, Alaska and California. It may well move up to third or even second place.
• North Dakota also has the lowest unemployment rate in the nation at 3.5%. The shale oil boom generates jobs in the oil fields, but it also has a long supply chain, fostering manufacturing jobs in states like Ohio and information technology jobs in California.
• The Persian Gulf represents 16% of our imports, and Venezuela 9%. By far the largest, and growing, source of imports is Canada, which supplies about 25%; Mexico is second, at 11%.
• U.S. imports from Canada will depend upon whether sufficient transportation exists. And in response to the State Department's postponement of the decision on the Keystone XL pipeline last month, the Canadian government has indicated that it cannot be wholly dependent on the vagaries of U.S. politics. The pipeline delay, said Prime Minister Stephen Harper, underscores "the necessity of making sure that we're able to access Asian markets for our energy products."
• The U.S. is still importing a larger share of its oil than it was in 1973, at the time of the first oil crisis. Even with increased domestic production and higher imports from Canada, it will still be part of the global oil market and vulnerable to disruptions and price spikes. Thus the U.S. needs to collaborate with other consuming and producing countries on energy security.