U.S. to Be World's Top Oil Producer in 5 years

Bakken oil field, ND

The United States will overtake Saudi Arabia as the world's leading oil producer by about 2017 and will become a net oil export by 2030, according to a new report released on Monday by the International Energy Agency. . . . The widespread adoption of techniques such as hydraulic fracturing and horizontal drilling has made those reserves much more accessible, and in the case of natural gas, resulted in a vast glut that has sent prices plunging.

Read more in The New York Times.