Oil and gas dependency in 2035
- America's shale-gas boom is set to reverse the flow of the international
trade in oil and gas.
- America, until recently the world's biggest
energy consumer before being overhauled by China, has relied on imports
for decades. But according to the International Energy Agency, that is
set to change.
- America is all-but self-sufficient in gas because of the
abundant flows from shale fields. By 2035 it could become a significant
gas exporter reckons the IEA.
- Meanwhile the same technology is unlocking
shale oil, which along with fuel efficiency measures, could slash
America's dependence on oil imports.
- With all sources of energy taken
together (including nuclear, renewables, etc) the country could hit net
self-sufficiency by 2035.
- The rest of the world is set to rely even more
heavily on imports, with the exception of Japan and South Korea, which
already import all their oil and gas, and the ASEAN region, which will
have less of a surplus to export.
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