United States to become self-sufficient for energy requirements by 2030: BP

“By 2030, increasing production and moderating demand will result in the United States being 99-percent self-sufficient in net energy; in 2005 it was only 70-percent self-sufficient,” BP said in its latest Energy Outlook report.

“Meanwhile, with continuing steep economic growth, major emerging economies such as China and India will become increasingly reliant on energy imports. These shifts will have major impacts on trade balances.”

The London-listed giant added that the rapid growth of unconventional energy sources — like shale gas and oil, which is extracted from low-pressure fractures in the ground — would redraw the global energy landscape.

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