China’s official news agency says the U.S. shale oil boom that will make it the world’s top oil producer by next year was the most under reported story of 2013. The Xinhua News Agency, citing the International Energy Agency and experts it interviewed, said the United States, driven by the development of its shale oilfields, is poised to become the world’s largest oil producer by 2015. U.S. output in 2014 is estimated at 8.5 million barrels of oil a day. “The increases are largely attributed to the development of the oil fields in Texas, North Dakota and the Gulf of Mexico,” Gene Panasenko, a financial consultant and wealth manager at LPL Financial, told Xinhua. He said this boom will help the U.S. become more energy independent over the next two decades. The oil boom story did not get enough attention in 2013 as other […]