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Report Sees U.S. as Energy Self-Sufficient by 2035: Should Canada Worry?

Nov 13, 2012
(Montreal Gazette)

The International Energy Agency predicts the United States will be capable of meeting its own energy needs by 2035, but that doesn't necessarily mean its top crude supplier — Canada — has reason to panic.

"The United States, which currently imports around 20 per cent 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," the Paris-based group said in its World Energy Outlook, released Monday.

Technological advances have helped unlock vast oil supplies from shale rock formations such as the Bakken in North Dakota and Montana.

The increased output, along with stepped up fuel efficiency measures in the transportation sector, mean U.S. oil imports will wane to the extent that North America will become a net exporter around 2030.