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US set to top Russia in energy output

US set to top Russia in energy output
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Energy from shale rock is set to make the United States the world’s biggest oil and gas producer – overtaking Russia.

That is according to an analysis carried out by The Wall Street Journal.

The controversial process of fracking, or hydraulic fracturing, has been key to the US boost in output.

In July, production of oil, natural gas and related fuels in the US was just over 22 million barrels of oil equivalent a day, while the Russia government’s forecast is for just under 22 million per day this year.

The Wall Street Journal report says the US is on track to overtake Russia for the whole year and may already have done so.

Russia’s conventional oil output is predicted to stay flat until 2020, when it will start to decline, but – like the US – it is also a major natural gas producer.

And it must be noted Russia has not yet started to use fracking and it does have vast shale formations to tap in the future.