America's future to meet the global 1/3 of the oil supply

Recently, one on U.S. crude oil production on the network news spread like wildfire, titled "International Energy Agency (IEA): America's future to meet the global 1/3 of the oil supply." For a time,fracturing proppant see who outcry, have on the global oil market has undergone structural change concerns, there are also dismissive of this news, and some even think that this is a U.S. conspiracy.

But in fact, it is derived from the "Financial Times" news is an Oolong news. In fact, the news from the IEA's five monthly, in fact, can not be counted as news, as early as the fourth quarter last year, IEA has been on the U.S. shale oil production growth gave a very optimistic assessment, this is only slightly production is expected to increase in the United States.

From another perspective, the 2012 U.S. crude oil production was 646 million barrels / day, 7556 barrels per day over the same period the world, other countries in the global production of the same circumstances, the United States needed to reach 3,455 million barrels of production in order to achieve global supply 1/3, which means that U.S. crude oil production in the next five years need to grow nearly 4.5 times. However,shale gas the highest daily output of crude oil in U.S. history has not reached 10 million barrels, in 2012 the cumulative total production of OPEC, only 3089 million barrels. Even from more consistent with the original intent of crude oil and other liquid fuels this caliber of view, the results are essentially similar, the United States needs to increase four-fold over the next five years in order to achieve this goal.

About this news, the mainstream views and comments focused on three points: the U.S. shale oil revolution will become the world's largest oil producer, and will far more than Saudi Arabia and Russia, the United States will achieve oil self-sufficiency and possibly exports; U.S. by crude oil as a diplomatic tool, suppressed by increasing the production of the Middle East and Russia, while controlling the Asia-Pacific and Europe;Hydraulic fracturing shale oil revolution could provide the U.S. with new ways to solve the financial problems, the U.S. fiscal and monetary will have greater leeway.