18 January 2012

US Energy Independence by 2030?

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My how expectations change. From the FT:
North America will become almost totally self-sufficient in energy in two decades, thanks to a big growth in the production of biofuels, shale gas and unconventional oil, according to projections by BP.

Presenting the oil company’s energy outlook to 2030, BP said North America’s energy deficit would turn into a “small surplus” by that year. That contrasts with Europe, which will have to import some 60 per cent of its natural gas by 2030 as demand grows and domestic production declines.