U.S. to Become Largest Liquid-Fuels Producer in 2013, BP Says
by Brian Swint & Lananh Nguyen (Bloomberg) The U.S. will surpass Russia and Saudi Arabia this year to become the largest producer of liquid fuels, BP Plc (BP/) said.
Liquids output, which includes oil, natural gas liquids and biofuels, will be boosted in the U.S. by tight oil extracted by the same technology that sparked a boom in shale gas, BP said today in its Energy Outlook 2030. Tight oil will account for 9 percent of global supplies by 2030, with North America dominating.
… So-called unconventional sources of oil such as tight oil, oil sands and biofuels will provide all the growth in global supply to 2020 and 70 percent of growth to 2030, BP said.
… The fastest-growing fuels are renewables, which will expand on average 7.6 percent a year from 2011 to 2030, BP said. READ MORE
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