U.S. Soon to Become World's Biggest Oil Producer

U.S. Soon to Become World's Biggest Oil Producer -- I am not quite sure if you already heard this news but according to one CNN news, US is expected to become world's biggest oil producer in 2020 and energy independent in 2030. This is according to a data released by the International Energy Agency (IEA). 
The same organization said that North America could be a net exporter of oil in around 2030.
The United States, which currently imports around 20% of its total energy needs, becomes all but self sufficient in net terms -- a dramatic reversal of the trend seen in most other energy importing countries
There has been an emerging oil boom on the part of the US, which can be attributed to the high world prices and new technologies.The agency also expects an increase in the global energy demand in 2035, along with:
..China, India and the Middle East accounting for 60% of the growth, and more than outweighing reduced demand in developed economies.
This could mean that with US being the top oil producer, the world average oil import prices will rise up to $125 per barrel comes 2035, specially if Iraq fails to deliver the required production rate.

Notably, US crude oil produce has jumped from 14 percent in 2008, while its natural gas production went up by 10 percent in the same year.

Seeing this at the local level, there could possible impacts on our national and regional price hikes.

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