2020: Year the U.S. is projected to overtake Saudi Arabia as the world's largest oil producer
A new report released by the International Energy Agency (IEA) predicts that the
United States is moving closer to energy self-sufficiency. The report projects that the U.S. will overtake Saudi Arabia as the world's largest oil producer by 2020. Such a shift, much of it due to a boost in the production of shale oil, will transform not only energy supplies, but also geopolitics and economics. An increase in U.S. energy production could improve the country's current account deficit, and likely benefit the U.S. dollar...
Sources: International Energy Agency, 2012; MarketWatch, "U.S. set to overtake Saudi in oil output: IEA," 11/12/2012; BlackRock, 11/2012
Prepared by BlackRock
Delivered courtesy Joel W. Grams, CRPC®, CLTC,
Registered Representative, Financial Planner, 212 Capital Group
38 Main Street Suite 360, Westlake Ohio 44145
(440) 835-4501 Ext 17, firstname.lastname@example.org
The foregoing discussion is general in nature and not intended as specific advice.
New England Financial nor its representatives are engaged in rendering tax,
accounting or legal advice. A qualified professional should be consulted regarding the effect of such considerations on the matters covered in this publication.