Full Title: Energy 2020: North America, the New Middle East?
Author(s): Edward L Morse, Aakash Doshi, Eric G Lee, Seth M Kleinman, Daniel P Ahn, and Anthony Yuen
Publisher(s): Citigroup
Publication Date: March 1, 2012
Full Text: Download Resource
Description (excerpt):
For the first time since 1949, the US has become a net petroleum product exporting country and has edged out Russia as the world’s largest refined petroleum exporter. Whether the increase in production results in the US reducing its imports or whether net exports grow doesn’t matter much to world balances. Either way, North America is becoming the new Middle East. The only thing that can stop this is politics —environmentalists getting the upper hand over supply in the U.S., for instance; or First Nations impeding pipeline expansion in Canada; or Mexican production continuing to trip over the Mexican Constitution, impeding foreign investment or technology transfers — in North America itself.