U.S. Could Become Top Oil Producer | VideoJennifer Joas | 11/12/2012
The agency conducted it`s annual World Energy Outlook, which shows North America`s potential to surpass other countries, such as Saudi Arabia, as the largest oil producer. The study attributes this growth to the recent rebound in U.S. oil and gas production thanks to new technologies, such as hydraulic fracturing that opened up the Bakken oil field.
The Western Energy Alliance, which represents six western states, says it`s no surprise.
"Bakken in North Dakota has really been the key. It`s really one of the drivers for why the United States increased production dramatically in just the last couple of years," said Government and Public Affiairs Vice President Kathleen Sgamma.
The study also projects that thanks to low natural gas prices and abundant supply, natural gas will overtake oil in 2030. The continued use of coal will depend on policy measures that favor lowering emissions.