News / Economy

IEA: US Will Be World's Biggest Oil Producer by 2015

FILE - A pumpjack brings oil to the surface in the Monterey Shale, California, April 2013.
FILE - A pumpjack brings oil to the surface in the Monterey Shale, California, April 2013.
VOA News
The International Energy Agency (IAE) says that by 2015, the United States will surpass Saudi Arabia and Russia as the world's biggest oil producer and is on track to become energy self-sufficient in two decades.

The IEA said Tuesday that for the next 10 years the recent U.S. and Canadian success with shale oil drilling and deepwater production in Brazil will reduce the role of the Middle East-dominated Organization of the Petroleum Exporting Countries as the world's most prominent oil producer.

But the Paris-based adviser to 28 energy-consuming nations said the U.S. position as the top world oil producer will end by the mid-2020s as resources diminish at the fields being tapped at the moment in the mid-country states of North Dakota and Texas. The IEA said Middle East countries will then provide most of the increase in the global oil supply.

In its annual World Energy Outlook, the IEA said the U.S. is moving steadily "towards meeting all of its energy needs from domestic resources in 2035." Energy self-sufficiency has long been a goal of American leaders.

Across the globe, the IEA said the demand for energy will increasingly be driven by emerging economies, and that China will surpass the United States as the world's largest oil consumer by about 2030. The report said that China, India and the Middle East will drive global energy demand one-third higher.

But the IEA said energy security throughout the world is being undermined by high prices, with oil prices averaging more than $110 a barrel since 2011.

The IEA's executive director, Maria van der Hoeven, said that such "a sustained period of high oil prices is without parallel." But the agency predicted oil will go even higher, reaching $128 a barrel by 2035.

The IEA said that while the price of oil is "relatively uniform" worldwide, natural gas prices vary widely. With huge gas production in the U.S., the IEA said American consumers and businesses pay sharply lower prices than in Europe and Japan, where much of the fuel must be imported.

You May Like

Philippines, Muslim Rebels Try to Salvage Peace Pact

Peace process faces major setback after botched military operation to find terrorists results in bloody gunbattle between government forces, Moro Islamic Liberation Front fighters More

Republicans Expect Long, Expensive Presidential Battle

Political strategist says eventual winner will be one who can put together strongest coalition of various conservative groups that make up Republican Party More

Video New Wheelchair Is Easier to Use, Increases Mobility

Engineers have come up with a lever-operated design that makes use of easily accessible bicycle technology More

This forum has been closed.
Comment Sorting
Comments
     
by: yt from: paris
November 13, 2013 4:54 AM
For people interested with factual information regarding fossile hydrocarbons and future productions, better look at the latest synthesis of Jean Laherrère (ASPO France), key graphs and link to pdf below :
http://www.powerswitch.org.uk/forum/viewtopic.php?t=23200&highlight=

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Liberia's Almost Last Ebola Patient Grateful but Still Grievingi
X
Benno Muchler
March 26, 2015 3:41 PM
Beatrice Yardolo was to make history as Liberia’s last Ebola patient. Liberians recently started counting down 42 days, the period that has to go by without a single new infection until the World Health Organization can declare a country Ebola-free. That countdown stopped on March 20 when there was another new case of Ebola, making Yardolo’s story a reminder that Ebola is far from over. Benno Muchler reports from Monrovia.
Video

Video Liberia's Almost Last Ebola Patient Grateful but Still Grieving

Beatrice Yardolo was to make history as Liberia’s last Ebola patient. Liberians recently started counting down 42 days, the period that has to go by without a single new infection until the World Health Organization can declare a country Ebola-free. That countdown stopped on March 20 when there was another new case of Ebola, making Yardolo’s story a reminder that Ebola is far from over. Benno Muchler reports from Monrovia.
Video

Video Cambodian Land Grabs Threaten Traditional Communities

Indigenous communities in Cambodia's Ratanakiri province say the government’s economic land concession policy is taking away their land and traditional way of life, making many fear that their identity will soon be lost. Local authorities, though, have denied this is the case. VOA's Say Mony went to investigate and filed this report, narrated by Colin Lovett.
Video

Video US, South Korea Conduct Joint Military Exercises

The Eighth U.S. Army Division and the Eighth Republic of Korea Mechanized Infantry Division put on a well orchestrated show of force for the media this week during their joint military training exercises in South Korea. VOA’s Seoul correspondent Brian Padden was there and reports the soldiers were well disciplined both in conducting a complex live fire exercise and in staying on message with the press.
Video

Video Space Program Status Disappoints 'Last Man on the Moon'

One of the films that drew big crowds last week at the annual South by Southwest festival in Austin, Texas, tells the story of the last human being to stand on the moon, U.S. astronaut Eugene Cernan. It has been 42 years since Cernan returned from the moon and he laments that no one else has gone there since. VOA’s Greg Flakus reports.
Video

Video Young Filmmakers Shine Spotlight on Giving Back

A group of student filmmakers from across the United States joined President Barack Obama at the White House this month for the second annual White House Student Film Festival. Fifteen short films were officially selected from more than 1,500 entries by students aged 6 through 18. The filmmakers and their families then joined the president and a group of celebrities for a screening of their films. VOA’s Julie Taboh reports.
Video

Video VOA Exclusive: Interview with Afghan President Ashraf Ghani

Afghan President Ashraf Ghani, during his first visit as president to Washington, gave a one-on-one interview with VOA Afghan Service reporter Said Suleiman Ashna, about his request for a change in U.S. troop levels, the threat from the Islamic State, and repairing relations with the United States and Pakistan. The interview was held at Blair House, late Sunday, in Pashto.
Video

Video California Science Center Tells Story of Dead Sea Scrolls

The ancient manuscripts were uncovered in the mid-20th century, and they are still yielding clues about life and religious beliefs in ancient Israel. As VOA's Mike O'Sullivan reports, an exhibit in Los Angeles shows how modern science is bringing the history of these ancient documents to life.
Video

Video Angelina Jolie Takes Another Bold Step

Hollywood actress and filmmaker Angelina Jolie has revealed she had her ovaries and fallopian tubes removed to lower her odds of getting cancer. Doctors say the huge publicity over her decision will help raise awareness about the importance of cancer screening. VOA’s George Putic has more

All About America

Circumventing Censorship

An Internet Primer for Healthy Web Habits

As surveillance and censoring technologies advance, so, too, do new tools for your computer or mobile device that help protect your privacy and break through Internet censorship.
More

World Currencies

EUR
USD
0.9211
JPY
USD
119.18
GBP
USD
0.6722
CAD
USD
1.2509
INR
USD
62.518

Rates may not be current.