Publications: The Petroleum Economics Monthly

The United States: Center of the Global Oil Market (October 2017)


Fatih Birol, the International Energy Agency’s executive director, speaking at a recent press conference to introduce the IEA's 2017 World Energy Outlook, told listeners that "the US will become the undisputed global oil and gas leader for decades to come."The forecast issued by the agency shows US crude production plus global tight oil output rising from seventeen million barrels per day in 2016 to twenty-six million barrels per day in 2030.


Our cover image—the front page of the Spring 2012 The International Economy, which focused on the US hydrocarbon industry's rise—provides an excellent illustration of what the IEA predicts and what we envisioned for the industry and the country six years ago. The TIE cover complemented a major article written by this author titled "The Amazing Tale of US Energy Independence."


The success of US entrepreneurs we foresaw in 2012 has come to pass. Indeed, this Petroleum Economics Monthly might be subtitled "The Amazing Tale of the United States’ Emergence as the Dominant Force in World Energy Markets."


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