Suldaanka Posted July 19, 2013 In testimony before a congressional committee in February, Yergin said the new energy boom added $62 billion to federal and state government revenues last year, ''a number that we project could rise to about $113 billion by 2020''. Michael Klare, professor of peace and world security studies at Hampshire College, said that ''just a few years ago, most analysts, myself included, were predicting a continuing decline in US oil and gas output, resulting in greater reliance on imported supplies and diminished US geopolitical clout. Now all those predictions seem obsolete.'' He says the boom ''allows Washington to liberate itself from long-standing ties to Middle Eastern oil despots and to adopt a more free-wheeling and assertive stance in world affairs'' and was a factor in the Obama administration's ''pivot'' to Asia, which is contingent upon a partial disengagement with the Middle East. Read more: Quote Share this post Link to post Share on other sites
warsamaale Posted July 19, 2013 Long live the Pax Americana. Quote Share this post Link to post Share on other sites
