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Exxon: North America will be a net exporter, oil will last 150 years

2014-12-10 02:10:26| Chemicals - Topix.net

Exxon Mobil Corp. predicts that North America will become a net exporter of oil and natural gas by 2020, according to the company's 2015 Outlook for Energy: A View to 2040 released Dec. 9. Advances in technology mean there's enough crude oil to satisfy demand for another 150 years, according to the study. To get an idea how far technology such as hydraulic fracking and horizontal drilling has come, in 1981, it was estimated that crude oil would run out in 60 years.

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