Wall Street och Stockholm 4 september 2024 Shale Oil Billström

september 04, 2024

Shale fracking has saved the West

Kamala Harris called for a fracking ban in 2019 and regretted it. No candidate has a prayer of reaching the White House with such unworldly, Left-Californian reflexes.

Perhaps somebody whispered in her ear that without fracking America would have to fire up coal plants with twice the CO2 footprint, or told her that there are currently 283m cars on the road in the US and that 280m run off petroleum.

She had to kill this albatross going into the election, and last week she did.

“We can increase a thriving clean energy economy without banning fracking,” she told CNN.

Fifteen years ago, the US was on track to become the largest importer of liquefied natural gas (LNG). Instead it has overtaken Qatar to become the largest exporter of LNG.

Cast your mind back to 2008, the moment when the American Century really did seem to be dying before our eyes.

The US financial system had seized up. General Motors faced liquidation. The dollar was in freefall.

US output of crude oil had collapsed to 5m barrels a day (b/d).

America had to import almost 10m b/d to cover its wasteful consumption, pushing the current account deficit to 6pc of GDP.

Brent crude was trading at $148.

This dystopian world was averted. The US became a net exporter of petroleum in 2020 for the first time since 1949.

Ambrose Evans-Pritchard Telegraph 3 September 2024

https://www.telegraph.co.uk/business/2024/09/03/lets-be-honest-shale-fracking-has-saved-the-west/

https://www.iea.org/

Tobias Billström avgår som utrikesminister – lämnar politiken

DI 4 september 2024, 16:57

https://www.di.se/nyheter/tobias-billstrom-avgar-som-utrikesminister-lamnar-politiken/