Energy independence 2020 and what it will look like to world

Fuel Fix:

North America will become energy independent by 2020 because of booming oil and gas production, which will have consequences worldwide, according to an analysis from Wood Mackenzie.

“The decline, and eventual reversal of North American net trade will have complex impacts on global energy flows, some of which are already becoming apparent,” said Paul McConnell, senior analyst for Wood Mackenzie’s global trends service, in a statement.

The region that will feel the largest impact of declining North American demand for imports will be the Middle East, the Houston research firm said.

World: China set to be No. 1 consumer of Middle East oil

“The Middle East is the most sensitive to changes in oil flows,” McConnell said. “Under pressure to maintain oil revenues, and with Asia importing ever-greater volumes, the relationship between China and the key players of OPEC will become increasingly bilateral.”

Because North America will be exporting both coal and natural gas, those shipments will pull down world prices for the resources, Wood Mackenzie said.

“The geopolitical impacts of an energy independent North America cannot be fully understood without considering the rise of Chinese energy demand,” Wood Mackenzie said. “Imports into China will grow as those into North America fall and eventually reverse.”

Chinese imports may grow to such an extent that they could be drain the excess resources flowing out of North America, pushing up prices, McConnell said.
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The advantage the US will have in natural gas should see more manufacturing moving back to the US from Asia and Europe.  That could reduce the demand for oil and gas in other parts of the world.  The interesting dynamic will be how China and the Middle East interact as they become more dependent on each other.  The Islamic terrorist may also switch their attacks to Chinese interest as they see them "taking their resources."