In November, the International Energy Agency (IEA) recognized the
remarkably positive developments in the U.S. energy sector of the past
few years. Not only did the IEA project that U.S. oil production would
exceed that of Saudi Arabia by 2020, it also projected that the United
States would become virtually energy independent by 2035. However, what
the IEA did not do was emphasize how much of this good news has occurred
as the result of market forces rather than government planning aimed at
securing energy independence.
The IEA is now projecting that U.S. oil production will increase markedly to over 11 million barrels a day by 2020. That should allow U.S. oil imports to decline to 4 million barrels a day from their present level of around 10 million barrels a day. The IEA is also forecasting that the United States will become a major natural gas exporter over the next few years.
Read more: http://www.american.com/archive/2012/december/gushing-about-americas-energy-future
The IEA is now projecting that U.S. oil production will increase markedly to over 11 million barrels a day by 2020. That should allow U.S. oil imports to decline to 4 million barrels a day from their present level of around 10 million barrels a day. The IEA is also forecasting that the United States will become a major natural gas exporter over the next few years.
Read more: http://www.american.com/archive/2012/december/gushing-about-americas-energy-future
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