US to Lead World Oil Production…for a Few Years

On Monday, the International Energy Administration released a new report that projects that the US will pass Saudi Arabia as the world’s leading producer of oil in 2020. U-S-A! U-S-A!

IEAIEA

“The United States, which currently imports around 20% of its total energy needs, becomes all but self sufficient in net terms—a dramatic reversal of the trend seen in most other energy importing countries,” the IEA concluded.

The projection, of course, flies in the face of the allegation that President Obama has destroyed the oil and gas industry in the US with his crushing regulatory agenda. He hasn’t. Crude oil production actually increased 14 percent between 2008 and 2011.

Yet the amount of oil we produce is expected to decline again after 2020. Saudi Arabia is expected to retake the global lead by 2030. So maybe we should be thinking about a Plan B.

DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily crazy—Mother Jones' journalism is driven by one simple question: Will America move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily crazy—Mother Jones' journalism is driven by one simple question: Will America move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate