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Title: U.S. Oil Output to Overtake Saudi Arabia’s by 2020
Source: Bloomberg
URL Source: http://www.bloomberg.com/news/2012- ... oduction-by-2020-iea-says.html
Published: Nov 12, 2012
Author: Lananh Nguyen
Post Date: 2012-11-12 10:40:42 by Brian S
Keywords: None
Views: 980
Comments: 1

U.S. oil output is poised to surpass Saudi Arabia’s in the next decade, making the world’s biggest fuel consumer almost self-reliant and putting it on track to become a net exporter, the International Energy Agency said.

Growing supplies of crude extracted through new technology including hydraulic fracturing of underground rock formations will transform the U.S. into the largest producer for about five years starting about 2020, the Paris-based adviser to 28 nations said today in its annual World Energy Outlook. The U.S. met 83 percent of its energy needs in the first six months of this year, according to the Energy Department in Washington.

“The IEA outlook feeds into the idea of a shift in the center of influence in the world oil market,” said Gareth Lewis-Davies, an analyst at BNP Paribas SA in London. “Given Saudi Arabia is willing to shift production up and down it will retain a large degree of influence, and remain important as a price-influencer.”

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#1. To: Brian S (#0)

o'Bungler will NEVER allow it.

He's pushing to have all resources owned by the state (so it can be properly mismanaged by professional mis-managers, as only the government can provide).

o'Bungler will do EVERYTHING he can, to destroy this country.

And you kiss his ASS, you piece of shit.

The total # of registered voters (election 2012) was ~197 million voters.

Barack Obama: 60,652,238 = 30.8%
Mitt Romney: 57,810,407 = 29.4%
NONE OF THE ABOVE: ~77,000,000 = 40%.

The U.S. government no longer has the consent of the people.

"I am relying on my personal experience with Morons, which have been universally positive." -jwpegler

Capitalist Eric  posted on  2012-11-12   23:47:48 ET  Reply   Trace   Private Reply  


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