up for the first time in a generation and arresting what many believe was a permanent decline. this chart shows the comparative growth in crude oil supply among a number of non-opec countries. you see the u.s. obliterating the rest of the world. employment des moinin oil and gd to the highest level in 1992. we still provide a tiny sliver just under 200,000. the net oil imports are craters and a now a number of analysts predict in the near future the u.s. is producing more oil than any other country in the world. by round 2020 a recent international agency reports that the u.s. is predicted to become the largest oil producer and starts to see the impact of new fuel efficiency measures and transport. it results in a continued fall in u.s. imports to the extend that north america is a net oil exporter around 2030. yes, that s right. the united states, which is according to the spokes people from the coal industry already
Detailed text transcripts for TV channel - MSNBC - 20140325:00:54:30
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Detailed text transcripts for TV channel - MSNBC - 20140325:03:54:30
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coal-burning power plants are shuting down across the country. there s a war on coal as you may have heard during the campaign, but the aggressors aren t bureaucra bureaucrats but it s natural gas. specifically the technology radically transformed natural gas production something called hydraulic fracturing or fracking. the name is opaque but the goal is simple. tens of thousands of feet below the surface there are deposits of natural gas trapped up within giant rock formations. fracking lets energy companies drill down to release the gas. that process has fundamentally revolutionized america s energy economy in a few years. the average annual price of natural gas is less than half what it was in 2008. large swaths of the united states from colorado to texas to ohio to upup state new york have massive natural gas reserves making them right for fracking. rhetts rebel based on concerns about health and the safety of
the process. those battles may decide the course of america s energy economy over the next century. i think there s a real mismatch between the amount of between the scale of the change happens in america right now because of the fracking boom and the amount of intense con stern nation, debate, and politics around the local level on the amount of coverage it gets naturally. it happens under the radar. natural gas, the natural gas revolution that s happening right now is you re someone that works in the energy sector. you re a trader in the energy secreta sector. it s transforming it. it s new. you need to say that clearly. it s in its absolute infancy. deep fracking they re doing now really only began in 2007 in texas, and it s been moved quickly into the major place. so we ve gotten at a very strange kind of movement in the time line of fracking.