Quantcast
Environmental News for a Healthier Planet and Life

Help Support EcoWatch

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."

A federal judge in Washington, D.C. struck down the Trump administration's proposed changes to the SNAP benefits program. Robert Nickelsberg / Getty Images

By Julia Conley

A federal judge in Washington, D.C. late Sunday struck down the Trump administration's proposed changes to the SNAP benefits program, potentially saving hundreds of thousands of people from losing badly needed federal food assistance.

Read More Show Less

EcoWatch Daily Newsletter

Demonstrators hold signs at an anti-tar sands march in St. Paul, Minnesota in 2015. Fibonacci Blue / CC BY 2.0

By Andrea Germanos

A group of Indigenous women and their allies on Monday urged the heads of major global financial institutions to stop propping up the tar sands industry and sever all ties with the sector's "climate-wrecking pipelines, as well as the massively destructive extraction projects that feed them."

Read More Show Less

Trending

Poor eating habits, lack of exercise, genetics, and a bunch of other things are known to be behind excessive weight gain. But, did you know that how much sleep you get each night can also determine how much weight you gain or lose?

Read More Show Less
A flying squirrel in Florida. Despite their name, flying squirrels do not actually fly, but rather glide between trees. Danita Delimont / Gallo Images / Getty Images Plus

In January of 2019, a concerned citizen in Marion County, Florida noticed something strange: Someone was trapping flying squirrels.

Read More Show Less
New research finds baby bottles may release millions of microplastic particles with each feeding. Beeki / Needpix

The process of preparing and mixing a baby bottle formula seems innocuous, but new research finds this common occurrence is actually releasing millions of microplastic particles from the bottle's lining, Wired reported.

Read More Show Less

Support Ecowatch