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A ceremony in August of 1941 marks the joining of a pipeline connecting an oil terminal in Portland, Maine, with refineries in Montreal.
A ceremony in August of 1941 marks the joining of a pipeline connecting an oil terminal in Portland, Maine, with refineries in Montreal.
(Library and Archives Canada)

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IEA signals end to oil patch’s party

Alberta’s oil patch would have to re-engineer itself if oil exports to the United States fall 60 per cent in the next decade, as a new report predicts.

The International Energy Agency’s World Energy Outlook notes that the rapid spread of fracking technology is allowing the United States to add more oil and gas production than any other country in the world. Output has been climbing by 500,000 barrels per day, a pace that puts the U.S. on track to become the world’s largest oil producer by 2017.