A Reality Check on the Possibility of the United States Being Energy Independent by 2020

By: Ian Campbell | Fri, Oct 12, 2012
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If you are an American - whether you a Democrat or Republican (note the alphabetic order) you should make a point of reading an article published last Thursday written by Michael Klare, author of the recently released book The Race for What's Left. If you are not an American, since what happens economically in America very likely will have an important influence on your own economic and investment return well being, you ought to carefully read the article as well.

The article, titled The New "Golden Age of Oil" That Wasn't, goes some distance to debunking claims that America can be oil & gas independent by 2020. In essence, the article says the following formula expresses reality, as contrasted with the 'dreams of 'new energy form boosters' who "may thrill journalists and pundits":

Extreme Energy = Extreme Methods =
Extreme Disasters = Extreme Opposition

I consider this a 'you can lead a horse to water ...' article. If you participate in oil & gas company share markets either as a trader or investor, you owe it to yourself to read Klare's article, drink in what he says, and think very carefully about it. I leave it to you to decide whether Klare presents an unbiased, independent, and sensible view. I for one think he does.

The link provided to The Race for What's Left is a link to Mr. Klare's website which describes his background, as well providing links to several sources where you can buy the book. I bought the book, have scanned it, and plan to read it carefully in the next few days. The book deals with oil & gas and mineral availability, or better said 'lack thereof' going forward'. Based only on what I have read of it so far, if you trade or invest in resource stocks I suggest The Race for What's Left is a 'must read'.

Topical Reference: The New "Golden Age of Oil" That Wasn't, from Mother Jones, Michael Klare, October 4, 2012 - reading time 3 minutes.



Ian Campbell

Author: Ian Campbell

Ian R. Campbell, FCA, FCBV
Economic Straight Talk

Through the Economic Straight Talk Newsletter Ian R. Campbell shares his perspective on the world economy, the financial markets, and natural resources. A recognized business valuation authority, he founded Toronto based Campbell Valuation Partners (1976), Stock Research Portal (2007) a source of resource companies market data and analytic tools, and Economic Straight Talk (2012). The CICBV* annually funds business valuation research in his name**. Contact him at icampbell@srddi.com.
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