Monday, November 12, 2012

U.S. to overtake Saudi Arabia as top oil producer by 2017

The New York Times reports that, according to the International Energy Agency, the U.S. will overtake Saudi Arabia as the world's top   oil producer by 2017 and will be a net oil exporter by 2030.  Increased oil and gas production and new energy efficient policies with new cars will make the United States "energy self sufficient."

The resurgence of oil and gas production is driven by unlocking reserves found in shale rock and new techniques such as hydraulic fracturing and horizontal drilling.

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