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Tuesday, October 15, 2013

on the way to energy independence

Saudi Gazette 12 Oct.’13: Reuters
By:Fatih Birol, Chief Economist and Director of Global Energy Economics at
the International Energy Agency in Paris
”U.S. shale oil boom which has transformed the global energy landscape”
LONDON — The United States will become the world’s largest oil
producer next year — overtaking Russia — thanks to its shale oil boom which
has transformed the global energy landscape, the West’s energy watchdog said
on Friday[11 Oct.].
The prediction comes only days after estimates by the US government showed
the United States, the world’s largest oil consumer, has ceded its ranking
as top global oil importer to China, thanks to the shale revolution cutting
import needs.

“The United States’ place in the driver’s seat of growth is also a throwback
to decades past,” the International Energy Agency said in its monthly
report.
The US resurgence as an oil producer is already reshuffling the cards in the
game of world energy diplomacy, playing it a new hand in relations with
long-term ally and top OPEC producer Saudi Arabia.