| The US has taken the economic offensive on the back of its recent shale oil and gas boom, but that bonanza will dwindle in the 2020s, leaving it again subject to Persian Gulf oil producers, a leading global energy agency said today. The question is whether the Gulf states will be ready to take back the mantle.
For the last few years, the US has undergone an identity makeover, with its experts crowing that, contrary to the national decline forecast by so many, it was beginning an industrial revival and achieving a measure of “energy independence.” Four decades after the Arab oil embargo shook the foundations of global power in 1973, the US might even withdraw its expensive security umbrella from the Persian Gulf petro-states, it has been suggested...............................................Full Article: Source
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