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US can become world’s biggest oil producer in a decade, says IEA

Posted on 13 November 2012

The US could become self-sufficient, while 90% of Middle Eastern oil could go to China, according to new estimates. The US can shed its longstanding dependence on Saudi Arabian oil within the next decade, redrawing the world’s political systems and potentially leading to runaway global warming.
In a report released on Monday, the world’s foremost energy watchdog, the International Energy Agency (IEA), said the US would benefit from so-called unconventional sources of oil and gas, including shale gas and shale oil, derived from fracking – blasting dense rocks apart to release the fossil fuels trapped within………………………………………..Full Article: Source


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