Over at Time, the magazine is reporting that U.S. oil and natural gas is on the verge of transforming the world’s energy markets for a second time, further undercutting Saudi Arabia and Russia. The International Energy Agency (IEA) said in a new forecast his week that growth in U.S. oil production will cover 80% of new global demand for oil in the next three years. U.S. oil production is expected to increase nearly 30% to 17 million barrels a day by 2023 with much of that growth coming from oil produced through fracking in West Texas.
Read the article here: http://time.com/5187074/fracking-energy-oil-natural-gas/