Skip to comments.U.S. to become biggest oil producer and energy independent
Posted on 11/12/2012 8:19:49 AM PST by Hojczyk
The United States will overtake Saudi Arabia to become the world's biggest oil producer before 2020, and will be energy independent 10 years later, according to a new forecast by the International Energy Agency.
The recent resurgence in oil and gas production, and efforts to make the transport sector more efficient, are radically reshaping the nation's energy market, reported Paris-based IEA in its World Energy Outlook.
North America would become a net exporter of oil around 2030, the global organization said.
"The United States, which currently imports around 20% of its total energy needs, becomes all but self sufficient in net terms -- a dramatic reversal of the trend seen in most other energy importing countries," the IEA stated.
The U.S. is experiencing an oil boom, in large part thanks to high world prices and technological progress that have made the extraction of oil and gas from shale rock commercially viable.
From 2008 to 2011, U.S. crude oil production jumped 14% -- going from 5.1 million barrels per day at the start of 2008 to nearly 5.8 million barrels per day, according to the Energy Information Administration. Natural gas is up by about 10% over the same period.
North America's new role in the world energy markets will accelerate a change in the direction of international oil trade toward Asia, and underscore the importance of securing supply routes from the Middle East to China and India.
(Excerpt) Read more at finance.yahoo.com ...
Not with OBAMA around for four more years
They clearly did not see the results of the election.....
Not if Obama can help it. And he can.
He’s not much good at getting anything done, but he’s good at stopping and wrecking anything he touches. It’s just a matter of appointing the right czars to the right places, so he doesn’t have to actually do anything.
Not with OBAMA around for four more years ...
and his trusty commie companion Ho CHU Minh.
Although many news articles have used this claim and title, the actual report this based upon includes ALL liquid energy sources. So the number to get above Saudi Arabia includes Natural Gas Liquids, Ethanol, Bio-Diesel, etc.
Are you kidding? I'm sure this is a jest.
How long before fracking will be under the primary jurisdiction of the WH and not the states?
Energy independent?? We’re going to build 50 million windmills?
We’ve seen the results here in Reno already. They’re practically giving gas away here now that it’s down to $3.57/gal. LOL! Never thought I’d be excited to see gas under $3.75/gal. Even with all the increased (ahem!)production it’ll never be under $3 again. Thanks uncle obie. Thanks a lot. And all the takers who voted for him too. Dumbasses! Wait till you run out of other peoples money.
Helping keep mankind warm for 65 years.
Funny, at first I thought you were referring to the “choom gang”...
Ho choom inh
They must still be subsidizing the building of windmills, because I see the blades on traincars on my route to work, and they come back empty.
That too ...
Comrades, it would appear the author of this foolishness hasn’t gotten the memo. All hail our fearless leader.
Sure, the windmills and plug-in cars are going to do the trick, 0bummer.
thanks a party which has no balls and ingored this madsive voter fraud and resutls not adding up.
Thanks black racism
Thank the welfare layabouts who did not want their handouts cut.
Thak a media which has never done it;s job for years and are now the Dems mouthiece of which they do not hide anymore.
Thank the dumb idiots who never informed themselves about the issues and just saw an AD or think a man showing turds with hsi enis is normal or natural and healthy.
Bottom line we are so screwed and now my oldest turns 15 today and looks to a future of a country going third world
That’s just replacement blades. Its the old “razor and blades” theory.