Energy in the U.S. and China
The global energy market recently passed two milestones. First, China passed the US as the number one importer of crude oil in the world in September. Second, the US passed Saudi Arabia as the largest fossil fuel producer in the world last week. Neither of these incidents came as a surprise. Both trends have been progressing roughly as expected. However, now that we’ve reached critical mass in forcing the evolution of the global energy markets, it’s time to take a look at some of the longer-term changes that …