U.S. utilizes domestic oil to become energy self-sufficient
By Ana Martinez |Staff Writer|
The International Energy Agency projects that the U.S. will be energy independent by 2030, which may potentially lead to lower gas prices and the creation of jobs
The agency also expects the U.S. will overtake Saudi Arabia as the world's greatest oil producers before 2020.
According to CNN, the U.S. is starting to use its own oil supply, which is predicted to help boost the economy.
"Growing North American production will help the U.S. begin to meet its own energy demands, leading it to cut back on imports that will instead start flowing to emerging markets," said Alanna Petroff in an article published by CNN.
Evidence shows the U.S. will no longer have to be as dependable on other countries for oil and can begin to export to others countries.
"Paris-based IEA forecasts that North America's oil supply will grow by nearly 4 million barrels per day between 2012 to 2018, amounting to nearly 50 percent of global output growth over that period," said Petroff.
The extraction of oil and gas from shale rock, has been made possible thanks to new technologies such as hydraulic fracking that makes extracting commercially viable. The extraction of oil should not only lower the gas prices, but also open up new slots for jobs in the process.
"In theory, this should create jobs, lower energy costs, and bring manufacturing capacity back to the U.S.," said Rob Wile, reported the Business Insider.
The U.S. is following in the footsteps of China and becoming more energy independent.
"The country leading this move is China, the world's second largest consumer after the U.S., which has been guzzling oil at an ever faster rate. The report forecasts that Chinese demand for oil will rise by 25 percent between 2012 to 2018, while U.S. demand will steadily decline," said Petroff
Students at CSUSB gave their opinion on the issue and the impact that the oil boom can have on them.
"I feel good because as a college student I may be able to go back to filling my tank with $30," said Kayla Snipes.
"If gas goes down, I can check one thing off my check list of worries in regards to high gas prices," said Tireeka Watson.
Other students shared their opinion on the U.S. not relying so much on other countries for oil.
"I think it's good that we are not going to be giving foreign countries billions of dollars for oil, but the downfall is more pollution in our countries," said Jacqlyn Reed.
"I feel that gas should go down if we start to pump our own gas/energy, obviously sales are not an issue," said Kelly Lauwers.
The IEA also expects the African continent to join the new demand of frontiers.
"There is growing evidence that African demand has been underestimated and is set to grow relatively steeply, albeit from a low base, in the next few years," said Petroff.
Along with Africa, America and China are starting to become more energy self-sufficient.
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