By 2020, the United States will overtake Saudi Arabia as the world’s largest oil producer, according to the International Energy Agency. The U.S. has already overtaken Russia as the world’s leading gas producer. Fuel has become America’s largest export item. Within five years, according to a study by Citigroup, North America could be energy independent. “OPEC will find it challenging to survive another 60 years, let alone another decade,” Edward Morse, Citigroup’s researcher, told CNBC.
An op/ed by David Brooks which in a few sentences illuminates how profoundly the energy revolution (fracking) in the US will fundamentally transform the geopolitical landscape.