The changing geopolitics of energy: America’s domination of oil and gas will not cow China

The changing geopolitics of energy: America’s domination of oil and gas will not cow China

www.economist.com

Being an importer of fossil fuels and an exporter of renewable technology is not so bad

“The United States of America is now the number-one energy superpower anywhere in the world,” President Donald Trump told oilmen in Midland, Texas this summer, from a stage decorated with gleaming black barrels. The sheer volume of hydrocarbons that such American oilmen have released from the shale beneath Midland and previously unforthcoming geology elsewhere gives substance to his boast. Over the past decade America’s oil output has more than doubled and its gas production increased by over 50%. America is now the world’s top producer of both fuels.