December 2012, Vol. 239 No. 12


Flat Demand And High Production Suggest U.S. Energy Independence In 2027

High Output From Unconventional Sources The United States will overtake Saudi Arabia to become the world’s biggest oil producer by 2017 and will be energy independent 10 years later, according to World Energy Outlook, a new forecast by the International Energy Agency released Nov. 12. “The recent rebound in U.S. oil and gas production, driven by upstream technologies that are unlocking light tight oil and shale gas resources, is spurring economic activity – with less expensive gas and electricity prices giving industry a competitive edge,” the agency reported. The IEA said it saw U.S. oil production rising to 10 million bpd by 2015 and 11.1 Mbpd in 2020 before slippi

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