Back in the Driverâ€™s Seat: U.S. Set to Displace Russia as Top Oil Producer (Reuters)
Already the worldâ€™s largest natural gas producer, the United States has becoming the worldâ€™s largest oil producer locked in its sights. And according to the International Energy Agency, the United States will overtake Russia next year in that role. Thanks to the shale oil boom, the U.S. oil industry is experiencing a resurgence that harkens back decades to Americaâ€™s former role as the worldâ€™s leading oil producer. However, the United States cannot still claim to be the worldâ€™s largest oil importer, since China now holds that distinction. As the United States continues to reshuffle the world energy deck, investors seeking to maximize their petro-dollars may want to look away from mother Russia, away from OPEC and back to the good ole U.S.A.