Monday, November 12, 2012

BBC - US to become 'world's biggest oil producer' due to Shale Production.

Which is something that Obama and his EPA is doing their best to stop in its tracks. This should be fun as Bush policy towards Oil production has started to bear results. Obama is going to take credit for this somehow.

The US will overtake Saudi Arabia as the world's biggest oil producer "by around 2020", an International Energy Agency (IEA) report has said.

The IEA said the reason for this was the big growth and development in the US of extracting oil from shale rock.

This has enabled the US to gain significantly more extractable oil resources.

As a result, the IEA predicts the US will become "all but self-sufficient" in its energy needs by around 2035.

The US shale oil industry has grown significantly in recent years.

It extracts oil from the ground using a method called fracking - pumping down a mixture of sand, water and chemicals at high pressure.

The industry says the method is safe, but critics say it could cause earthquakes and pollute water sources.



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