Skip to comments.IEA: US Energy Production to Beat Saudi by 2017
Posted on 11/12/2012 6:42:13 PM PST by lbryce
e American energy miracle continues to make waves as more and more people realize just how big it is. The FT reports:
The US will overtake Saudi Arabia and Russia to become the worlds largest global oil producer by 2017, according to the International Energy Agency, in one of the clearest signs yet of how the shale revolution is redrawing the global energy landscape.
This marks the first time the IEA, the developed worlds most respected energy forecaster, has made such a prediction. It underscores how the drilling boom that has unlocked North Americas vast reserves of hard-to-get-at oil and gas is changing the worlds oil balance.
The report says that the United States will be essentially energy independent in 2030:
In its yearly world energy outlook, published on Monday, the IEA said that by 2030 the US, which currently imports around 20 per cent 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.. . .
[O]il imports into the US . . . will plunge from 10m barrels a day to 4m b/d in ten years time. The agency [IEA] says that North America will become a net oil exporter by about 2035.
This is a forecast, and there are still some concerns. Some analysts think the IEAs prediction model assumes a continuing boom in shale oil and gas production that may be unsustainable. As the NYT reported on October 20,
(Excerpt) Read more at blogs.the-american-interest.com ...
The downside of this will be having to watch Obama, and millions of other smug, moronic Democrats take all the credit. The same people, who mocked Sarah Palin, and any other Republican, who called for energy self-sufficiency — these same ignorant, smug, treacherous twits — will be taking the credit for something they claimed was impossible.
Maddening. Absolutely maddening.
We HAVE to make sure nobody forgets who it was that said
DRILL BABY DRILL
and who it was that mocked it.
Afraid it is going to be much more than just taking credit for it. Obama will figure out a way to use it to help pay for his socialist agenda.
You should save a screen shot of that Wikipedia page. It’s almost certain to be changed, especially to expunge the quotes from Biden and Palin.
Yeah, he and Chávez will enjoy a few laughs about that.
Didn’t DOI just lock down 1.6 million acres of land to oil shale drilling? I could have sworn that I saw a thread here on the subject.
That would be nice, wouldn't it. Reasonable gasoline prices forever.
However, this will never happen. nobama will figure out a way to stop this.
Don’t bet on it.
“The downside of this will be having to watch Obama, and millions of other smug, moronic Democrats take all the credit”
He already has taken the credit for all the large number oil wells that have come into production during his term in office. What he doesn’t mention is the fact that they were actually developed during George Dubya Bush’s tenure.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.