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May 15, 2013

BBC: US Shale Oil Supply Shock Shifts Global Power Balance

No link for a Large Island-Nation State Media. But it's at the BBC, if you want to Bing the headline.

Over the next five years, the US will account for a third of new oil supplies, according to the International Energy Agency (IEA).
The US will change from the world's leading importer of oil to a net exporter.

Demand for oil from Middle-East oil producers is set to slow as a result.

"North America has set off a supply shock that is sending ripples throughout the world," said IEA executive director Maria van der Hoeven.

The surge in US production will reshape the whole industry, according to the IEA...

The report sees the US passing Russia to become the world's largest natural gas producer in 2015, and becoming energy self-sufficient by 2035.

So, there is some good news.

via @donsurber

posted by Ace at 11:38 AM

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Demand for oil from Middle-East oil producers is set to slow as a result. "North America has set off a supply shock that is sending ripples throughout the world," said IEA executive director Maria van der Hoeven. The surge in US production will reshape the whole industry, according to the IEA... The report sees the US passing Russia to become the world's largest natural gas producer in 2015, and becoming energy self-sufficient by 2035. So, there is some good news. via @donsurber posted by Ace at 11:38 AM \| Access Comments <script language="javascript" src="http://adserver.adtechus.com/addyn/3.0/5235/1131537/0/170/ADTECH;loc=700;cookie=info;target=_blank;key=key1+key2+key3+key4;grp=[group]"></script><noscript><a href="http://adserver.adtechus.com/adlink/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" target="_blank"><img src="http://adserver.adtechus.com/adserv/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" border="0" width="300" height="250"></a></noscript>	Recent Comments pawn (on his new laptop!!!): "So would you rather have him hanging out and messi ..." IRONGRAMPA: "Good morning, good people, from the Frigidrondacks ..." publius, Rascally Mr. Miley (w6EFb): " Darn, missed the solstice. It was at 09:21Z, 4: ..." Skip : "Have snow ground cover hete ..." Aetius451AD: ""Disclaimer: Posted slightly early because I'm goi ..." 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