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November 19 2012

US to become world leader in oil and gas thanks to fracking


The United States will leapfrog Saudi Arabia and Russia to become the world's biggest producer of oil and gas in the next five years as the controversial practice of "fracking" for hydrocarbons contained in shale rocks has enabled the country to increase production massively, according to an authoritative new report.

In a development that will reshape the geopolitical map, US oil and gas production is set to leap by about a quarter by 2020 as the rapid growth of hydraulic fracturing, or fracking, propels the country towards providing all its own energy by 2035, according to this year's keenly watched World Energy Outlook report from the International Energy Agency.

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