By 2017 a recent IEA report predicts the United States is projected to become the largest global oil producer…and starts to see the impact of new fuel-efficiency measures in transport. The result is a continued fall in U.S. oil imports, to the extent that North America becomes a net oil exporter around 2030.
Yes, that’s right. The United States, which is, according to the spokespeople from the coal industry, already the “Saudi Arabia” of coal, which is, thanks to the fracking revolution, now essentially tied with Russia as the single largest producer of natural gas in the world, could also once again find itself the world’s biggest oil producer on a consistent basis for the first time since the first half of the 20th century.
In energy circles, you’re beginning to hear the phrase “Saudi America” used to refer to this future fossil fuel juggernaut that we have created.