Energy reporter Ronald D. White and deputy business editor Joe Bel Bruno discuss a report that says the U.S. will become the world’s top producer of oil within five years.
By Ronald D. White and Tiffany Hsu, Los Angeles Times
The U.S. will become the world’s top producer of oil by 2020, a net exporter of oil around 2030 and nearly self-sufficient in energy by 2035, according to a new report from the International Energy Agency.
It’s a bold set of predictions for a nation that currently imports some 20% of its energy needs.
Recently, however, an “energy renaissance” has begun in the U.S., marked by a boost in oil, shale gas and bio energy production made possible by new technologies such as hydraulic fracturing, or frocking, and horizontal drilling, said the report by the Paris agency, which acts as an energy watch dog for industrialized nations.