Will the U.S. Topple Saudi Arabia?

A recent report by the International Energy Agency has come out saying that the United States will surpass Saudi Arabia as the largest producer of oil in the world by 2017 and could be entirely energy self-sufficient by 2030. What does that mean for you at the pump? Before you pop the cork on that bottle of champagne, listen to what Motley Fool analyst Morgan Housel has to say about what this could mean for gas prices, what it will mean for Big Oil investors, and how much weight we can really put behind these findings.

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  • Report this Comment On November 24, 2012, at 5:25 AM, OilfieldVet wrote:

    Dont be silly. Look at the number of wells the U.S. is drilling vs. Saudi. They are the king and always will be.

    Watch what happens to U.S. drilling if the price of WTI falls below $80. Those rigs will up in Williston will go stacked faster than you will believe.

    Finally, the shale play doesnt have much history. Lets see how long these wells produce vs. Saudi wells. I am betting that the average shale well will water out in 2-3 years vs. decades for a well in Saudi.

    Cheers dudes.

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