The U.S. Oil Boom Causes an Energy Upheaval

The U.S. Oil Boom Causes an Energy Upheaval

Booming North American oil production is reshaping world markets and will help satisfy the growing thirst for oil in the developing world, according to the International Energy Agency.

"North America has set off a supply shock that is sending ripples throughout the world," said IEA executive director Maria van der Hoeven. "This is helping to ease a market that was relatively tight for several years."

Growing North American production will help the U.S. begin to meet its own energy demands, leading it to cut back on imports that will instead start flowing to emerging markets.

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