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Episode #48

Money Talking: Is Energy Independence A Reality?

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Friday, March 22, 2013

For years, politicians have called for the nation to end its dependence on foreign oil.  That time could be fast approaching.

This week, the Energy Information Administration forecast that the U.S. is expected to produce more oil than it imports for the first time since 1995.  Most of the increase will come from shale fields in North Dakota and Texas.

The news comes after earlier reports that the U.S. could produce more oil than Saudi Arabia by 2020.

This week on Money Talking, regular contributors Rana Foroohar of Time magazine and Joe Nocera of the New York Times join WNYC's Business Editor Charlie Herman to assess just how the nation is becoming more energy independent and what it means for the economy.  Also, with the U.S. consuming less foreign oil and other countries like China picking up the slack, how will that change global alliances.  

Looking ahead, Foroorhar is keeping a close eye on what happens to the stalled bailout of the island nation of Cyprus.  Nocera, on the other hand, is watching what happens to J.C. Penney's CEO Ron Johnson as he tries to fix the ailing retailer.

 

Guests:

Rana Foroohar and Joe Nocera

Hosted by:

Charlie Herman

Weekend Reading: Iraq, Abdullah & Touch Screens

Money Talking host Charlie Herman and regular contributors Joe Nocera of the New York Times and Rana Foroohar of Time magazine tell us what they're reading this weekend.

Comment

Comments [1]

Peter Gollon from Huntington NY

This was a fascinating program about extracting still more "cheap" hydrocarbon energy from the ground in the US.

However, there was not a single word about the need to replace fossil fuels with renewable energy from the sun and wind in order to reduce the impact of climate change caused by burning that very fossil fuel. In fact, the words "climate change" weren't even mentioned.

Has Mr Herman been living on another planet and missed what is now so obvious about changes to the world we all inhabit? If so, I wish he'd share its location with the rest of us so we can all move there when the climate on this one becomes intolerable.

Mar. 27 2013 06:08 AM

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