Reddit reviews The Power Surge: Energy, Opportunity, and the Battle for America's Future
We found 3 Reddit comments about The Power Surge: Energy, Opportunity, and the Battle for America's Future. Here are the top ones, ranked by their Reddit score.
Great finds, thanks. Also be sure to check out Micheal Levi's "Power Surge" for a more holistic analysis of the implications of the U.S. energy boom.
I ended up picking this up and it is a great read.
http://www.amazon.com/The-Power-Surge-Opportunity-Americas/dp/0199986169
I think it factors in in a few different ways.
1: We wouldn't have the US oil boom if it weren't for big increases in Chinese demand. Higher demand --> higher prices --> investment in new technology and new drilling. This dynamic happens because US oil production is still relatively high cost -- so it needs higher prices to continue. One thing worth noting is that the US boom should help take some of the edge off China-driven oil price increases. How much is complicated -- ask if you want more on that!
2: The US boom could go (partly) bust if Chinese demand weakens strongly. Here we have basically the opposite chain: Lower demand --> lower prices --> less incentive to drill more US oil.
3: The Chinese have been investing -- but they've been careful. They've tended to take minority stakes in particular fields alongside US companies. This is different from what they've done elsewhere (and tried to do in the US in the past), where they bought majority stakes. By keeping their control limited, they avoid a certain amount of US regulatory / national security scrutiny, which serves them well. So far, I think the impact on our broader trade/investment relationship is limited, but if we decided to restrict Chinese investment, that would obviously have consequences.
On the broader question of whether we should change any of our energy policies: Definitely. I could list a lot (and I wrote a bunch about this in a recent book http://www.amazon.com/Power-Surge-Energy-Opportunity-Americas/dp/0199986169/ref=sr_1_2?s=books&ie=UTF8&qid=1395347850&sr=1-2) but let me emphasize one that's closely connected to China's rise: we need to be pushing more efficiency in our own energy system. That would help us be less economically vulnerable to the price rises sparked by China; it would also help keep the price of oil lower, with all sorts of good spillovers. And it would have great side-benefits, like reducing greenhouse gas emissions.