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US Has Quietly Become The World Leader In Gas & Oil Production

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It’s official: US to dominate oil and gas markets

There is an ongoing power shift in the world energy market that is receiving scant attention in the MSM. The International Energy Agency (IEA) in its annual publication, World Energy Outlook, predicts that the U.S. will dominate the global oil and gas markets for many years to come as a result of the shale boom, which is the biggest supply surge in history.
via www.americanthinker.com

 

By 2025, the growth in American oil production will equal that achieved by Saudi Arabia at the height of its expansion, and increases in natural gas will surpass those of the former Soviet Union, the agency said…. The boom will turn the U.S., still among the biggest oil importers, into a net exporter of fossil fuels.

US shale oil producers using fracking technology, have developed an agile, cost effective system of establishing wells but not completing them. When the market conditions demand more output, wells are completed and production can begin in a relatively short period of time. This capability is not lost on those on those following the energy market.

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Comments (19)

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