Read this morning that they have discovered oil in US

[happyslug]

5. Shale Oil has been known for decades

The recent International Energy Agency (IEA) report appears that stated the US will be a net oil exporter is 10-20 years seems to be based on massive increase in Shale oil Production (as Shale Oil Production moves from Alberta to the Shale fields in the Western US) AND a huge reduction is US oil usage due to "Increase efficiency" (but the summary does NOT state HOW the US will achieve that increase fuel efficiency, I suspect by oil going to $10 a gallon).

The IEA's Summary of the actual report
http://www.iea.org/publications/freepublications/publication/English.pdf

The previous threads on that report:

Thread based on a report from Bloombergs:
http://www.democraticunderground.com/1014301394

Thread based on a report from the New York Times:
http://www.democraticunderground.com/112727904

Thread based on a report from the Al Jazeera
http://www.democraticunderground.com/1014303115#post12

Thread based on a report from Reuters (this is the oldest thread):
http://www.democraticunderground.com/1014301553

The fifth thread based on the IEA report:
http://www.democraticunderground.com/112728105#post3