Menu
Share
Share this story
Close X
 
Switch to Desktop Site

US predicted to be world's largest oil producer by 2017

Next Previous

Page 3 of 7

About these ads

"The recent rebound in US oil and gas production, driven by upstream technologies that are unlocking light tight oil and shale gas resources, is spurring economic activity - with less expensive gas and electricity prices giving industry a competitive edge," it added.

IEA Chief Economist Fatih Birol told a news conference in London he believed the United States would overtake Russia as the biggest gas producer by a significant margin by 2015. By 2017, it would become the world's largest oil producer, he said.

This could have significant geopolitical implications, if Washington feels its strategic interests are no longer as embedded in the Middle East and other volatile oil producing regions.

Next Previous

Page 3 of 7


Follow Stories Like This
Get the Monitor stories you care about delivered to your inbox.

Loading...