Independence day

By Economist.com

Oil and gas dependency in 2035

AMERICA'S shale-gas boom is set to reverse the flow of the international trade in oil and gas. America, until recently the world's biggest energy consumer before being overhauled by China, has relied on imports for decades. But according to the International Energy Agency, that is set to change. America is all-but self-sufficient in gas because of the abundant flows from shale fields. By 2035 it could become a significant gas exporter reckons the IEA. Meanwhile the same technology is unlocking shale oil, which along with fuel efficiency measures, could slash America's dependence on oil imports. With all sources of energy taken together (including nuclear, renewables, etc) the country could hit net self-sufficiency by 2035. The rest of the world is set to rely even more heavily on imports, with the exception of Japan and South Korea, which already import all their oil and gas, and the ASEAN region, which will have less of a surplus to export.