US Oil Production To Surpass Saudia Arabia By 2020

Oil and gas production in the US is on track to surpass that of Saudi Arabia by 2020, making America virually self-reliant, according to the International Energy Agency.

As reported in Bloomberg Business Week, the U.S. is already meeting 83% of its energy needs, and within a decade could become a net energy exporter.

“The IEA outlook feeds into the idea of a shift in the center of influence in the world oil market,” BNP Paribas analyst Gareth Lewis-Davies told the magazine.

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