There
is a boom in United States oil reserve more than ever. In addition, space exploration and technology
has continued to advance, bringing new method of energy resources on daily
basis. There is a rise in US output of
shale oil changing its demand for foreign oil.
This
is rewriting global trade patterns and deepening fault lines within the
Organization of the Petroleum Exporting Countries. It will put OPEC at a disadvantage to mount a
collective response.
There will be a global stoppage on reordering. What will a
country such as Nigeria do whose economy is based mostly on oil importation to
the United States, Russia and China? United States reliance on foreign oil is waning, the balance of
power is shifting around the globe with unexpected winners and losers and a
renewal of US power.
For
the past 40 years, U.S. presidents have launched distant wars, allied with
autocratic sheikhs and dispatched naval fleets to protect sea lanes, all for
the imperative of keeping foreign oil spigots flowing.
That imperative has now subsided. Rather suddenly, the
center of gravity of global energy production has swung toward the Americas as
shale oil and gas fields in North Dakota and Texas hum with activity. America
is moving to the fore as the world's largest producer of petroleum and natural
gas.
That
change will reorder the globe in ways large and small.U.S. experts say it will prolong the United States' position as the predominant global superpower. Arab nations that shook the world with the 1973 oil embargo almost certainly will be weakened. Russia will find its power ebb as European nations find alternate suppliers for natural gas. New energy technologies will reorder the scales of global winners and losers.
Nigeria must increase its pace of investment in technology
and training to cultivation in the palm oil, peanuts, cotton, rubber, wood;
hides and skins, textiles, food products, etc.
Rural area would benefit greatly from technology and training to reduce
poverty in many areas.
No comments:
Post a Comment