Global Economics and the Energy Policies in the US Essay

Global Economics and the Energy Policies in the US - Essay Example Based on reports the real energy revolution lies here unlike the much-touted green energy being sold by the US government. President George W. Bush administration had the solution of investing in new green technology in the production of energy. Although the strategy did not yield a lot of results, Obama’s administration did double spending on these forms of energy without much success. The energy policies adopted by the UK government over the years have been on green energy which only contributed to increased energy costs. Energy production is set to change in the future and the United State will lead the revolution. This change is massive and it cannot be easily stopped by anyone including environmentalists since technology and demand have changed over the years. Despite the fact that fracking contributes to decreased emission levels compared to old energy sources such as coal. The deployment of horizontal drilling and hydraulic fracturing (fracking) has created a potential for unconventional oil deposits from shale to be tapped. Most governments are opposed to this technology and imposed restrictions on the use of the technology (Wall Street Journal, 2012, 1). Countries like France and the UK are among the countries that can be oil sufficient yet they continue to adopt costly and ineffective green energy. The presence of technology and resources such as Shale sho uld give a boost to countries to bring about an energy revolution. Politicians being the decision makers should be among the first people to adopt the changes in the oil industry. For instance, in the United States, the Obama administration should support the new revolution instead of imposing federal restrictions. Politicians have a tendency of taking credit for successes they were not involved in envisaging or supporting.