Article: America About to Dethrone Saudi Arabia as Liquid Petroleum King

These type of articles are turning up with increasing frequency. And fracking is the cause.

The US is using fracking directly to produce more oil, but the process also has an interesting side-effect. When the shale is fracked for natural gas, one of the by-products is "natural gas liquids." These include ethane and propane.

American oil output is expected to break 9 million barrels per day sometime this year, edging closer to Russia’s 10.1 million b/d and Saudi’s 9.7 million b/d. 

With productivity continuing to rise, the United States has a chance to become the single biggest producer of crude oil sometime in the near future. If you had said that a decade ago, you would’ve been laughed at and called a fool. What a difference fracking makes.

Ten years ago, there were discussions about whether or not we had reached "peak oil." We will eventually, and will eventually have to deal with a "post-oil" economy. However, that is not happening soon.

The fracking revolution will move to other counties. The UK has begun to develop the legal tools to start. China is trying to frack, but has not yet had much success.