Brent crude rose to $111 a barrel due to concerns over fighting between Israel and Gaza, according to Fox Business. However Reuters later reported that economic fears outweighed the Middle East violence, sending oil lower. These news-making events may impact the day to day price swings in oil, but what about the bigger picture of supply and demand? We talk to Marin Katusa, Chief Energy Investment Strategist at Casey Research, about longer-term developments in oil and gas as game changers in the energy outlook. IEA World Outlook Report key predictions: 2020: US will be top oil producer 2035: US will be mostly oil self-sufficient New fuel-efficient transportation will curb US oil demand US Oil demand vs Production Millions of Barrels per day The IEA released its World Energy Outlook report forecast. Some of the key predictions included: the US will be the world's top oil producer by 2020, by 2035 the US will be virtually self-sufficient in oil, new fuel-efficiency measures in transport will begin to curb US oil demand, and North America will become a net oil exporter around 2030. This shift, according to the IEA, will be driven primarily by accelerated extraction of natural gas and oil from shale and other tight rock formations as a result of technology, specifically hydraulic fracturing and horizontal drilling. Last week OPEC admitted for the first time that US shale oil production would significantly diminish its share of the US market. We talk to Marin Katusa about the future of shale as a path to US energy independence. wall street journal, energy investment strategies, ratings, ceo, oil, capital account, united states, billion dollars, US market, canada, Middle East violence, Energy Investment Strategist, IEA, energy market, stock

• published: 19 Sep 2014
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