One of the biggest talking points during the recent presidential campaign was energy independence. There is no question that it is in America’s best interest to import less oil, but it is a realistic goal?
Surprisingly enough, yes it is, at least according to the International Energy Agency. The agency said that it believes the U.S. will become a net exporter of oil by 2030 and becoming almost totally self-sufficient by 2035.
Whether or not this prediction comes true, it is a good sign that things are at least moving in the right direction. The U.S. uses a lot of resources to protect major trade routes, and once it no longer relies on the rest of the world for its energy needs, there will be little reason to do so. This will help the country financially, as well as politically.
By 2035, the agency predicts that nearly 90% of the Middle East’s oil will be headed to Asia, and then the region become’s Asia’s problem.
Is it realistic though? Actually it does seem to be a realistic goal. Recent developments in oil techniques have helped propel the nation’s production, both in oil and in natural gas. There is still a long way to go, but energy independence does seem to be on the horizon.
Michael Fowlkes is a financial writer who has been with the Fresh Brewed Media family since 2004. Over the course of his tenure with Fresh Brewed Media, he has worn many hats, including portfolio manager, options analyst, and writer. Michael received his undergraduate degree from Virginia Tech in Accounting and got his start in finance working as a stock trader for six years at Chase Investment Counsel in Charlottesville, Va. His articles typically cover big-picture events and forecasting what impact they will have on the stock market. In addition to writing for Fresh Brewed Media, Michael also wrote for AOL's BloggingStocks for three years, focusing most of his attention on the energy and technology sectors.