US Will Be World's Top Oil Producer by 2020: Report
And green energy could surpass fossil fuels by 2035
By Neal Colgrass, Newser Staff | Suggested by WarmWeatherGuy
Posted Nov 12, 2012 5:36 PM CST
In this 2007 file photo, a new oil transit pipeline runs across the tundra to flow station at the Prudhoe Bay oil field on Alaska's North Slope.    (AP Photo/Al Grillo, File)

(Newser) – Hello, energy independence: The US will become the world's top oil producer by 2020 and require almost no foreign energy by 2035, according to a new International Energy Agency report. The agency bases its daring prediction on the rise in output caused by new technologies like fracking, the LA Times reports. America will produce 11.1 million barrels per day of oil by 2020—surpassing Russia and Saudi Arabia—and export more than it imports by 2030, the agency says.

Five years later, US production will fall behind Saudi Arabia's, but by then, America won't need so much foreign energy anyway. As for green energy, it will become the world's second-most popular power source within three years and threaten to surpass fossil fuels by 2035. But that "hinges critically on continued subsidies," says the report. And even by 2035, people will be "failing to put the global energy system onto a more sustainable path." Click for a PDF of the full report. (Or click for more on the rise of gas and oil production in the Americas.)

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boxcar
Nov 13, 2012 10:35 PM CST
In 1960 at Univ.of Okla. (an oil producing state) I received a questionaire from a state senator on the question of should US develop Domestic Oil or should we invest in Foreign Oil and the answer was quite simple- Use up all the CHEAP Foreign Oil first, leave US Oil in the ground, its money in the bank and we will have 50yrs to locate where all our oil & nat. gas is (no dry wells) and develop technology to extract it cheaply where we now do horizontal drills from a single well head to reach spread out pools of oil & gas. Efficiency will be the "Watch Word" of the 21st Century. Added benefit- don't have to transport it across pond
Odaecom
Nov 13, 2012 11:09 AM CST
Are you out of your frackin mind?
StationaryMan
Nov 13, 2012 7:30 AM CST
By all means Frak Pennsylvania and New York, potentially contaminating an extremely large aquifer that supplies 100 million people with fresh water, not to mention the wildlife. Ignore the evidence, ignore the will of the people, energy independence at all costs!