November 12, 2012
U.S. to become world's largest oil producer before 2020, IEA says (Tiffany Hsu, November 12, 2012, LA Times)
The U.S. will become the world's top producer of oil within five years, a net exporter of the fuel around 2030 and nearly self-sufficient in energy by 2035, according to a new report from the International Energy Agency.It's a bold set of predictions for a nation that currently imports some 20% of its energy needs.Recently, however, an "energy renaissance" in the U.S. has caused a boost in oil, shale gas and bio-energy production due to new technologies such as hydraulic fracturing, or fracking. Fuel efficiency has improved in the transportation sector. The clean energy industry has seen an influx of solar and wind efforts.
Typically, the Empire imports raw materials and make finished goods. We'll be doing the opposite.
Posted by Orrin Judd at November 12, 2012 6:17 PM