The American oil industry is thriving more than ever, according to three data points highlighted this week. The
United States is poised to surpass Saudi Arabia as the world's largest
oil producer by 2015, the International Energy Agency's chief economist
Fatih Birol predicted on Tuesday,
citing his organization's report released last month. U.S. oil consumption increased more this year than it has since 2001, a Goldman Sachs research analyst said Friday. A surge in exports of refined petroleum products helped narrow America's trade gap, the Commerce Department said in a new report out this week.
Compare this to IEA's 2007 outlook,
which said oil production from countries not a part of OPEC would rise
only slowly to 2030. America's oil industry is hardly mentioned. It's worth noting where we were to realize where we are now and to predict where we might be six years from today.
http://www.nationaljournal.com/energy-edge/a-week-of-good-news-for-u-s-oil-energy-edge-brought-to-you-by-chevron-20131206
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