US oil/gas independence soon.

"The 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. IEA Chief Economist Fatih Birol told a news conference in London he believed the United States would overtake Russia as the biggest gas producer by a significant margin by 2015. By 2017, it would become the world's largest oil producer, he said. The United States will rely more on natural gas than either oil or coal by 2035 as cheap domestic supply boosts demand among industry and power generators, the IEA said. "  Reuters

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This will make a big difference in the US economy and with regard to the long standing relationship to the Saudis.  pl  

http://news.yahoo.com/u-overtake-saudi-top-oil-producer-iea-132331660.html

Comments

[optimax]

Former 11B, Did you notice any signs fracking polluted wells or ground water--local complaints or flaming water at the hotel? Could you feel the ground crumbling under your feet? Would you lease your land to a gas company?

[Fromer 11B]

Texas is not like that. The laterals are at 8000+ feet. There is no effect at the surface and it is scrubland anyway. And the ground water is always cased off

[optimax]

Thank you for your answer.

[YT]

"a people who have done so little with so much"

In a way, the other descendants of Abraham have at least contributed [much] more in spite of being persecuted in Europe all those centuries.

[Energy Market Report]

Thanks for the posting...The two traditional methods of Oil Recovery are Primary Oil Recovery which is limited to hydrocarbons that naturally increase to the surface, or those that use artificial lift strategy, such as pump jacks. Whereas, the Secondary Oil Recovery employs water and gas injection, dislocating the oil and driving it to the surface. But these two methods are not able to extract maximum oil from the fields. As much as 75% of the oil is left unrecovered in the ground. As a solution to this Enhanced Oil Recovery (EOR) or Tertiary recovery techniques can be used for increasing the amount of crude oil that can be extracted from an oil field.

[Renton Auto Body Repair]

Oh golly oh gosh, Administrations have been saying this since Eisenhower. Well, one more reason to continue this Fed funny money rally.