"U.S. to Be World’s Top Oil Producer in 5 Years, Report Says"

"The United States will overtake Saudi Arabia as the world’s leading oil producer by about 2017 and will become a net oil exporter by 2030, the International Energy Agency said Monday."

"That increased oil production, combined with new American policies to improve energy efficiency, means that the United States will become 'all but self-sufficient' in meeting its energy needs in about two decades — a 'dramatic reversal of the trend' in most developed countries, a new report released by the agency says.

'The foundations of the global energy systems are shifting,' Fatih Birol, chief economist at the Paris-based organization, which produces the annual World Energy Outlook, said in an interview before the release. The agency, which advises industrialized nations on energy issues, had previously predicted that Saudi Arabia would be the leading producer until 2035."

Elisabeth Rosenthal reports for the New York Times November 12, 2012.

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"U.S. To Overtake Saudi as Top Oil Producer: IEA" (Reuters)