A new global energy panel, led in part by former President Bill Clinton's energy chief, suggests the shale oil revolution has prompted the United States to win the race for renewable energies .
"The United States is well positioned in the race for clean energy: US companies hold strong positions in new technologies, including robotics, artificial intelligence and electric vehicles," said Friday. the World Commission on the Geopolitics of Energy Transformation of the International Renewable Energy Agency. report.
The new commission, funded in part by the US government, was created last January, after decades of work, to produce a report on the impact of renewable energies on global influence and geopolitics.
Bill Richardson, who served as Clinton's energy secretary from 1998 to 2000, is the only US representative of the geopolitics commission.
According to the report, renewable energy could benefit from the greater energy self-sufficiency that oil and natural gas provide in the United States.
The United States is now the largest producer of fossil fuels. This status will not only make this status less vulnerable to the actions of the OPEC oil cartel, he added, but it will also allow its important technology sector to develop its technological potential for the benefit of the global transition to oil and gas. renewable energies.
The report concludes that countries less vulnerable to global shocks on energy prices resulting from increased dependence on imports may focus on developing their energy industries. renewable. Countries with their own energy resources, the report notes, tend to have stronger economies that can support various industries, including an expanding renewable energy industry.
Richardson criticized Trump's pricing policies, but also expressed optimism that the administration has reached a trade deal with China.
He told CNBC last week that he wanted a trade deal to be struck with China, including providing for the purchase of more US energy products in return for tariff relief.
These energy products would include shale oil and more coal and natural gas, a mix not far from that envisioned in the current administration's energy dominance program.
The United States has become a net exporter of natural gas in 2017 and is expected to become a net exporter early in the next decade, according to the report.
The new report indicates that China is in a more vulnerable position in terms of energy, because of its import dependence, as well as Japan and Europe.
Richardson's presence on the commission established a year ago in the United States is consistent with his energy record.
Richardson was the former governor of New Mexico, who owns 4 percent of the US crude oil reserves and is still the sixth largest oil producer in the United States, according to the energy department.
The state produces 4% of the country's natural gas production and is one of the top 10 gas producing states. It also contains about 3% of the United States coal reserves and produces 2% of the country's coal.
The report also indicates that US shales make the OPEC oil deal and Russia less important to the global oil market.
"OPEC could reinvent itself in some form; however, in a world characterized by a growing range of energy sources, its importance is likely to become less important, "says the report.
In fact, on the same day as the report was released, Saudi Arabia, OPEC's largest producer, announced the launch of a major renewable energy initiative as part of efforts to forgo oil.
"Countries that have historically benefited from geopolitical influence because they provide fossil fuels risk diminishing their reach and influence globally unless they can reinvent their economies for a new energy era," he said. explains the report.
The report and the Saudi announcement were released at the ninth meeting of the General Assembly of the International Renewable Energy Agency last week in Abu Dhabi. At the time of the press, it was not clear if the Trump administration was present at the meeting which will last until Sunday.