Not exact matches
The most obvious change has been the renaissance of
oil and gas
production: the growth in unconventional gas
production, alongside increased output of light
tight oil, is
making a substantial contribution to economic activity and competitiveness.
Unfortunately, the mainstream media and politicians on both sides of the aisle are parroting the hype, claiming — in Obama's case — that unconventional
oil can play a key role in an «all of the above» energy strategy and — in Romney's — that increased
production of
tight oil and tar sands can
make North America energy independent by the end of his second term.
Technological breakthroughs in shale gas and
tight oil production are poised to
make the United States — not Saudi Arabia — the world's largest producer of crude
oil as early as the end of the decade, according to the latest World Energy Outlook published by the International Energy Agency (IEA).