1/18/2013

US Set to Achieve Top Oil Production by 2017


In the next five years the United States should be on course to surpass Saudi Arabia as the world's top producer of oil and become a net oil exporter by 2030, according to an International Energy Agency report.  Although this scenario at the moment does not seem to paint a bright picture for our nation's environmental future, many are excited for an America independent of foreign oil with a move towards energy self-sufficiency.

Proponents argue that lower oil prices will create a decline in coal usage, and diminish the appeal of fracking.  Currently, domestic coal usage is already hitting record lows, due in large part to the increased natural gas production.  The entire scenario not matter what way you approach it  continues to pose unfortunate consequences at each end of the spectrum, creating untold, long-term effects on the US environment, from multiple large disasters to small consistent ongoing small-scale pipeline leaks.



The IEA points out in their report that, US energy self-sufficiency will not come from increased oil production alone, rather 55% will be a result of an uptick in home-drilled oil, and 45% from increases in energy efficiency.  While oil production may be good for the job market, so too is the emerging Green Economy.

About 3 million green jobs currently exist in the US, through wind and solar power, and other energy efficiency projects. The UN estimated that 15m and 60m additional jobs are likely in the next twenty years, if green policies are put in place to switch the high-carbon economy to low-carbon.

Read the full report Here: