A report by the International Energy Agency (IEA) suggests that the United States will become a net exporter of natural gas by 2020 and a net oil exporter by 2035, at which point the country will be almost self-sufficient in energy.
The extraordinary growth in oil and natural gas output in the U.S., combined with the higher fuel economy standards, will basically eliminate its dependence on foreign oil.
As a result, the IEA predicts a sea change in global energy flows. Canada, which is currently a major energy supplier for the U.S., will likely shift its production toward emerging Asian markets.
The extraordinary growth in oil and natural gas output in the U.S., combined with the higher fuel economy standards, will basically eliminate its dependence on foreign oil.
As a result, the IEA predicts a sea change in global energy flows. Canada, which is currently a major energy supplier for the U.S., will likely shift its production toward emerging Asian markets.