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Author: rubberthinking Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 70705  
Subject: A huge Obama success story Date: 11/15/2012 2:53 AM
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Hi all,

Unthinkable just a year or two ago. This could mean great things for our economy and our way of life:

http://www.marketwatch.com/story/us-set-to-overtake-saudi-in......


"By around 2020, the United States is projected to become the largest global oil producer" and overtake Saudi Arabia for a time, the agency said. "The result is a continued fall in U.S. oil imports (currently at 20% of its needs) to the extent that North America becomes a net oil exporter around 2030."

This major shift will be driven by the faster-than-expected development of hydrocarbon resources locked in shale and other tight rock that have just started to be unlocked by a new combination of technologies called hydraulic fracturing.

According to Washington's Energy Information Administration, U.S. oil production has increased 7% to 10.76 million barrels a day since the IEA's last outlook a year ago. The agency's conclusions are partly backed by the Organization of the Petroleum Exporting Countries, which last week acknowledged for the first time that shale oil would significantly diminish its share of the U.S. market.
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Author: tamhas Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 65465 of 70705
Subject: Re: A huge Obama success story Date: 11/15/2012 10:33 AM
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I recommend checking out this thread
http://boards.fool.com/imagine-this-30376096.aspx?sort=whole...
from Value Hounds for some other sides to this story.

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