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North America has the potential to be energy world’s next Middle East
March 22, 2012
Deepwater drilling in the Gulf of Mexico, tapping shale deposits for gas and oil and Canada’s oil sands are among the ingredients that could see North America’s production of oil and natural gas liquids almost double to 26.6m barrels a day by 2020, according to a report by analysts at Citigroup.
“The energy sector in the next few decades could drive an extraordinary and timely revitalisation and reindustralisation of the US economy,” the 80-page report said.
The vexed question of America’s future energy needs and how to meet them has dominated the battle for The White House in recent weeks, as the Republican challengers blame President Barack Obama for the recent rise in petrol prices.
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