Oil Industry's Future Not as Bright as Government Expects

Oil Industry's Future Not as Bright as Government Expects
AP Photo/Wally Fong, File

he oil and natural gas industry is coming to terms with losing its energy monopoly, and while consumers will benefit from lower prices as companies compete for market share, the resulting damage to the planet could be irreversible.

Oil and gas producers are turning North America into a net exporter of energy that will dominate global markets, the Energy Information Administration predicts. Not only will the U.S. achieve net exporter status in 2020, but analysts at Rystad Energy predict America will produce more hydrocarbon liquids than Saudi Arabia and Russia combined by 2025.

Read Full Article »
Comment
Show comments Hide Comments

Related Articles