1) This is a Legitimate problem for China, but how can we assume that the USA will be the world's superpower, when China does encounter this problem? 2050 is a long way from now. It is likely that another nation will take the role of the #1 economy.
Beyond that, how do we know the environmental impact caused by the industrialization of China will not reduce the average life expectancy (cancer, etc.)?
2) Much of the shale oil extraction has been financed through low interest rates and debt. The cost of extracting many of these oil reserves is more than the worth of the oil itself.
"Just a few of the roadblocks: Independent producers will spend $1.50 drilling this year for every dollar they get back."
3) This is hard to argue against. I have a few concerns:
a) The profits from the R&D and IP are usually concentrated in the hands of large corporations with large patent portfolios. These corporations are global and not beholden to the USA (they can move work aboard). The profits of these corporations are increasing being moved towards the hands of the few.
b) The education system in the USA for the majority, has been far from stellar. There is an opening for another country to surpass the USA in education and academic institutions.
c) As China moves away from an export driven economy, they can take the role of R&D and IP. China is working towards this. I'm not sure if they can succeed.
Beyond that, how do we know the environmental impact caused by the industrialization of China will not reduce the average life expectancy (cancer, etc.)?
2) Much of the shale oil extraction has been financed through low interest rates and debt. The cost of extracting many of these oil reserves is more than the worth of the oil itself.
"Just a few of the roadblocks: Independent producers will spend $1.50 drilling this year for every dollar they get back."
http://www.bloomberg.com/news/2014-02-27/dream-of-u-s-oil-in...
http://oilprice.com/Energy/Natural-Gas/Shells-American-Woes-...
3) This is hard to argue against. I have a few concerns: a) The profits from the R&D and IP are usually concentrated in the hands of large corporations with large patent portfolios. These corporations are global and not beholden to the USA (they can move work aboard). The profits of these corporations are increasing being moved towards the hands of the few.
b) The education system in the USA for the majority, has been far from stellar. There is an opening for another country to surpass the USA in education and academic institutions.
c) As China moves away from an export driven economy, they can take the role of R&D and IP. China is working towards this. I'm not sure if they can succeed.
http://www.nytimes.com/2013/01/17/business/chinas-ambitious-...