"The US will lead the world in oil production for two decades starting in 2015, according to a new report. After that, OPEC will reassert its dominance in oil production."
"The US is poised to become the world's largest oil producer beginning in 2015. But its reign will be fleeting as the Middle East reasserts itself two decades from now.
Why? America's oil boom won't last forever, according to an annual outlook released Tuesday by the International Energy Agency (IEA). And the technologies that have fueled that North American boom in shale rock formations won't be easily replicated in the rest of the world.
'The capacity of technologies to unlock new types of resources ... and to improve recovery rates in existing fields is pushing up estimates of the amount of oil that remains to be produced,' reads the Paris-based agency's report. 'But this does not mean that the world is on the cusp of a new era of oil abundance.'"
David J. Unger reports for the Christian Science Monitor November 12, 2013.
SEE ALSO:
"Shale’s Effect on Oil Supply Is Forecast to Be Brief" (New York Times)
"U.S. Expected Soon To Be Crowned World’S Oil King" (McClatchy)
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