U.S. to Overtake Saudi Arabia as Top Oil Producer, Agency Forecasts [View all]

[groovedaddy]

(Hold on. Didn't Obama put a damper on energy production? gd)

LONDON (Reuters) - The United States will overtake Saudi Arabia and Russia as the world's top oil producer by 2017, the West's energy agency said on Monday, predicting Washington will come very close to achieving a previously unthinkable energy self-sufficiency.

The International Energy Agency (IEA) said it saw a continued fall in U.S. oil imports with North America becoming a net oil exporter by around 2030 and the United States becoming almost self-sufficient in energy by 2035.

"The United States, which currently imports around 20 percent 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," it said.

The forecasts by the IEA, which advises large industrialized nations on energy policy, were in sharp contrast to its previous reports, which saw Saudi Arabia remaining the top producer until 2035.

http://www.nytimes.com/reuters/2012/11/12/business/12reuters-iea-oil-report.html?ref=business&_r=0