U.S. Edges Saudi Arabia, Russia in Oil and Gas
The International Energy Agency made headlines nearly one year ago with its bold forecast that the United States was on track to being the world’s top oil and natural gas producer by 2017. (See related, “U.S. to Overtake Saudi Arabia, Russia as World’s Top Energy Producer.”)
It turns out that the United States is fracking its way to the top far faster than the experts anticipated. The U.S. Energy Information Administration on Friday released figures showing that the United States will surpass both Saudi Arabia and Russia in oil and natural gas production this year. The release follows a Wall Street Journal analysis showing that the United States was on track to tap more natural gas than Russia