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EnergyIndependence

USA'sNaturalgas production prospects

Trends in U.S. energy production that could lead to an energy independent United States. He shared one chart showing U.S. energy production`s projected growth to be higher than all other nations in just eight years. This growth is due mostly to the development of natural gas production, through hydrofracking, in Texas over the last decade an a half. It is clear from Faber`s talk that legalizing hydrofracking in other states, like New York, could boost American energy production to the point where American produce as much energy as they consume.

This adds to the list of positive results of hydracking. Producing natural gas could lead not only to more jobs nationwide, but American energy independence that would have a huge impact on the economy all the way foreign policy. Of course, environmental safety and potential water contamination remains a large concern and is the central point of argument against hydrofracking legislation. Currently, the issue is still under debate in New York State.

Additional hydrofracking updates in NYS and countrywide.

Hydrofracking continues to a hot top across the nation. Various rallies have been held over past months including a celebrity rally that just took place in Denver, Colorado. In New York State, a massive event, Songs Against Drilling, took place fighting against the legalization of hydrofracking in the state.

Additionally, there is a proposal to build a pipeline to carry natural gas from New York State to Pennsylvania. In Pennsylvania, hydrofracking is currently legal. However, there too the issue is being debated with 14 environmental groups recently asking the state 

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Energy independence doesnt mean lower gasoline prices

Just about every president since Richard Nixon has set energy independence as a goal, and both major candidates have brought it up the current campaign.

As it turns out, there is a place, not so far from here, that has achieved energy independence: Canada.

Canada produces far more oil than it consumes. They're not dependent on the Middle East! They've got all the oil they need!

I called Stephen Gordon, a professor of economics at Université Laval in Quebec City, to ask him about what energy independence means for his nation.

"It's not really that big a deal," he told me.

Really? I asked him what gas station he used to fill up his car.

Ultramar. Corner of St. Olivie and St. Jean Baptiste. I called the station and (with the help of a colleague who speaks French) learned that they Charge $1.37 per liter, in Canadian dollars.

Do all the conversions, adjust for taxes, and you get something around $4 per gallon — about the same price as we pay in the U.S. right now.

Energy independence does not mean cheaper gasoline. It doesn't even mean that prices are more stable. Gas prices in Canada went up this summer just like they did in the United States. Prices in Canada are sensitive to conflict in the Middle East, or increased demand from China.

There is a global market for oil. That means there is basically one price, whether you are a net exporter (Canada) or the world's biggest importer (the U.S.).

It is good for Canada's economy to export oil to the rest of the world. Oil is money sitting there in the ground. But it doesn't make gas any cheaper at the pump.