International Finance

US in ‘driver’s seat’ in global energy space, says Energy Secretary Rick Perry

US, global energy, US energy, Rick Perry
Technology and innovation are making all the difference in the country’s energy sector

According to US Energy Secretary Rick Perry, the US is holding the reins of global energy, reported fox business. Perry claims technology and innovation are the prime factors that are altering the energy landscape.

Going by US President Donald Trump’s foreign policy, energy shares a significant focus for the country. Perry is of the opinion that countries like India, Poland and the Baltic states are the ones who comprehend the US energy space. The energy sector in the US is also investing US$1.8bn on super computers for the advancement of its energy department in segments like modelling nuclear tests.

On Monday, Perry told FOX Business: “Because of the great shale revolution, American LNG (liquefied natural gas) is now absolutely changing the geopolitical position in the world of the United States when it comes to energy,”

With the rise in demand, competition and concerns pertaining to the energy sector, Perry said: “Every molecule of American gas that goes into Europe is a molecule that they don’t have to take from Russia and be held hostage. We are delivering freedom around the world— not just gas.”

 “In 2040, 77% of the power generated in the world will still come from fossil fuels.” “And it will be American technology that leads that.”

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