Quantcast
Environmental News for a Healthier Planet and Life

U.S. to Unleash 'Major Second Wave' of Fracked Oil

Energy

Despite governments around the world enacting measures to reduce carbon emissions to help fight climate change, the latest oil market forecast from the International Energy Agency (IEA) makes it clear that the world is yet to turn its back on fossil fuels.

According to IEA's Oil 2018, global oil production capacity is forecast to hit 107 million barrels a day (mb/d) by 2023. As TIME noted from the report, much of that growth is led by the U.S. due to oil produced from fracking the Permian Basin in western Texas, where output is expected to double by 2023.


"Non-OPEC supply growth is very, very strong, which will change a lot of parameters of the oil market in the next years to come," Fatih Birol, the head of the International Energy Agency, told reporters at the CERAWeek energy conference hosted by IHS Markit. "We are going to see a major second wave of U.S. shale production coming."

The IEA predicts that growth in U.S. oil production will meet 80 percent of the growing global demand over the next three years, with Canada, Brazil and Norway able to supply the rest.

"Thanks to the shale revolution, the United States leads the picture, with total liquids production reaching nearly 17 mb/d in 2023, up from 13.2 mb/d in 2017," the analysis states.

Republican Sen. Dan Sullivan of Alaska said at the CERAWeek energy conference "there has never been a more exciting time for the American energy sector."

"It is clear to me the American energy renaissance is now in full swing and is being supported by federal government policies," he added.

But environmental activist Josh Fox, the director of Oscar-nominated 2010 documentary Gasland, lamented the resurgent shale boom.

"A major second wave of fracking is coming," he tweeted. "Ok fractivists, time for a major second wave of organizing, because we don't have a major second planet to live on."

EcoWatch Daily Newsletter

A polar bear is seen stopping to drink near the north pole. Christopher Michel / Flickr / CC BY 2.0

The fossil fuel industry is driving polar bears to cannibalism.

Read More
Mathias Appel / Flickr

Get ready for double the cuteness! Red pandas, the crimson-colored, bushy-tailed forest dwellers who gave Firefox its name, actually consist of two different species.

Read More
Sponsored
A view of a washed out road near Utuado, Puerto Rico, after a Coast Guard Air Station Borinquen MH-65 Dolphin helicopter crew dropped relief supplies to residents Tuesday, Oct. 3, 2017. The locals were stranded after Hurricane Maria by washed out roads and mudslides. U.S. Coast Guard photo by Petty Officer 3rd Class Eric D. Woodall / CC BY-NC-ND 2.0

By Coral Natalie Negrón Almodóvar

The Earth began to shake as Tamar Hernández drove to visit her mother in Yauco, Puerto Rico, on Dec. 28, 2019. She did not feel that first tremor — she felt only the ensuing aftershocks — but she worried because her mother had an ankle injury and could not walk. Then Hernández thought, "What if something worse is coming our way?"

Read More
Flooded battery park tunnel is seen after Hurricane Sandy in 2012. CC BY 2.0

President Trump has long touted the efficacy of walls, funneling billions of Defense Department dollars to build a wall on the southern border. However, when the U.S. Army Corps of Engineers (USACE) released a study that included plans for a sea wall to protect New Yorkers from sea-level rise and catastrophic storms like Hurricane Sandy, Trump mocked it as ineffective and unsightly.

Read More
A general view of fire damaged country in the The Greater Blue Mountains World Heritage Area near the town of Blackheath on Feb. 21, 2020 in Blackheath, Australia. Brook Mitchell / Getty Images

In a post-mortem of the Australian bushfires, which raged for five months, scientists have concluded that their intensity and duration far surpassed what climate models had predicted, according to a study published yesterday in Nature Climate Change.

Read More