- From the US producing more oil than Saudi Arabia, China becoming the World’s largest economy and Queen Elizabeth II becoming history’s longest serving monarch, 2015 looks sets to become a watershed year. With thanks to The Economist, we outline some very interesting observations for the new year to come.
American energy self-sufficiency
- Less than a decade ago the concept of ‘peak oil’ and impending energy crisis was front page news. However new technologies like fracking, and renewed exploration activities have not only resulted in the USA achieving energy independence but in 2015 it will also produce more barrels of oil than Saudi Arabia and become a net exporter of energy products. Many aspects of international relations are built around American access to oil and whilst the shale-gas revolution will no doubt benefit consumers with lower bowser prices, the longer term shifts in geopolitical agendas may not be as helpful for global stability.
This update does not constitute financial advice and should not be relied upon as such. It is intended only to provide a summary and general overview on matters of interest and it is not intended to be comprehensive. You should seek professional advice before acting or relying on any of the content.