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Mon Jun 30, 2014, 05:18 PM

Report: US oil growth having limited effect on energy security - Oct 2013 Roubini Global Economics

... with the mid-East descending into chaos - for the foreseeable future - this report will soon transition from prognosis to history....

... new title?: "How do you like $5.00 a gallon gasoline?"


WASHINGTON — The United States may soon claim the throne as the world’s top crude and gas producer, but America’s dependence on oil leaves the nation at risk, according to a global energy security assessment issued Monday.

According to the analysis by Roubini Global Economics and Securing America’s Future Energy, the nation’s heavy reliance on petroleum fuels threatens to undo U.S. gains in efficiency and oil and gas production.

“Heavy oil dependence still renders the country highly vulnerable to price fluctuations in the short-to-medium term, particularly as economic growth — and fuel demand — recovers,” according to the report.

While physical supplies of oil may be more dependable in the United States — particularly with hydraulic fracturing allowing production of newly recoverable crude and gas resources — the nation’s overall dependence on oil and inefficient use of it leaves the economy “exposed to high and volatile oil prices.”

... I'm soooo glad EPA is moving to protect Oil Industry market share/profits

[font size="4"]"Who needs renewable fuels?"[/font]

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