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Old 11-12-2012, 11:02 AM   #2
Direckshun Direckshun is offline
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From the report's executive summary:

Quote:
The tide turns for US energy flows

Energy developments in the United States are profound and their effect will be felt well
beyond North America – and the energy sector. The recent rebound in US oil and gas
production, driven by upstream technologies that are unlocking light tight oil and shale
gas resources, is spurring economic activity – with less expensive gas and electricity prices
giving industry a competitive edge – and steadily changing the role of North America in
global energy trade. By around 2020, the United States is projected to become the largest
global oil producer (overtaking Saudi Arabia until the mid-2020s) and starts to see the
impact of new fuel-efficiency measures in transport. The result is a continued fall in US oil
imports, to the extent that North America becomes a net oil exporter around 2030. This
accelerates the switch in direction of international oil trade towards Asia, putting a focus
on the security of the strategic routes that bring Middle East oil to Asian markets. The
United States, which currently imports around 20% of its total energy needs, becomes all
but self-sufficient in net terms – a dramatic reversal of the trend seen in most other energy
importing countries.
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