h/t Instapundit
A steeper-than-expected rise in US shale oil reserves is about to change the global balance of power between new and existing producers, a report says.
Over the next five years, the US will account for a third of new oil supplies, according to the International Energy Agency (IEA).
The US will change from the world's leading importer of oil to a net exporter. Demand for oil from Middle-East oil producers is set to slow as a result.
The end of Islam as a factor in World affairs---unless, of course, their man in White House manages to derail USA oil production. |