US Could by 2017 Be World's Biggest Oil Producer

 US Could by 2017 Be World's Biggest Oil Producer

The International Energy Agency says that by 2017 the United States is likely to overtake Saudi Arabia as the world's biggest oil producer.

The Paris-based energy agency said Monday in its annual forecast that the U.S. is drilling more crude oil through increased use of hydraulic¹ fracturing of underground shale² formations. The IEA said it expects the increased production could eventually make the world's largest economy nearly energy self-sufficient, a goal long sought by U.S. leaders but one they have never come close to achieving.

The organization, which is made up of 28 nations, said the U.S. now imports enough oil to meet 20 percent of its energy needs. But the agency projected that North America would become a net oil exporter by about 2030 and the U.S. almost self-sufficient five years later.

The forecast is a marked change for the IEA, which previously³ had predicted the Saudis would remain the world's top producer until 2035.

The U.S. says it is on pace this year to produce its most oil since 1991, which is making the country less dependent on oil imports from the politically volatile⁴ Middle East. Saudi Arabia now produces 9.8 million barrels of oil a day, compared to 6.7 million barrels in the U.S.

The IEA predicted the U.S. would pump 11.1-million barrels a day in 2020, about a half million more than Saudi Arabia. The agency said it expects the Saudis to again become the top producer by 2030.

With hydraulic fracturing, a process commonly known as "fracking," shale oil and natural gas are extracted after water, sand and chemicals are pumped into the ground at high pressure to crack open rocks.

Fracking is banned in and around the city Pittsburgh, Pennsylvania, and is under moratorium⁵ in the nearby states of New York and Maryland, pending⁶ further health- and environmental-risk assessment⁷.

1 hydraulic   

adj.水力的；水压的，液压的；水力学的

参考例句：

• The boat has no fewer than five hydraulic pumps.这艘船配有不少于5个液压泵。
• A group of apprentics were operating the hydraulic press.一群学徒正在开动水压机。

2 shale   

n.页岩，泥板岩

参考例句：

• We can extract oil from shale.我们可以从页岩中提取石油。
• Most of the rock in this mountain is shale.这座山上大部分的岩石都是页岩。

3 previously   

adv.以前，先前（地）

参考例句：

• The bicycle tyre blew out at a previously damaged point.自行车胎在以前损坏过的地方又爆开了。
• Let me digress for a moment and explain what had happened previously.让我岔开一会儿，解释原先发生了什么。

4 volatile   

adj.反复无常的，挥发性的，稍纵即逝的，脾气火爆的；n.挥发性物质

参考例句：

• With the markets being so volatile,investments are at great risk.由于市场那么变化不定，投资冒着很大的风险。
• His character was weak and volatile.他这个人意志薄弱，喜怒无常。

5 moratorium   

n.(行动、活动的)暂停(期)，延期偿付

参考例句：

• The government has called for a moratorium on weapons testing.政府已要求暂停武器试验。
• We recommended a moratorium on two particular kinds of experiments.我们建议暂禁两种特殊的实验。

6 pending   

prep.直到，等待…期间；adj.待定的；迫近的

参考例句：

• The lawsuit is still pending in the state court.这案子仍在州法庭等待定夺。
• He knew my examination was pending.他知道我就要考试了。

7 assessment   

n.评价；评估；对财产的估价，被估定的金额

参考例句：

• This is a very perceptive assessment of the situation.这是一个对该情况的极富洞察力的评价。
• What is your assessment of the situation?你对时局的看法如何？