The Dream is Now a Reality - 4/19/2013
What if we could add 3.6 million jobs, enough to cut U.S. unemployment by 2 percentage points? According to Citigroup, it's possible. The U.S. or at least North America can achieve energy independence by 2020 as more domestic production continues and that could mean jobs.
The U.S. is now the fastest growing producer of oil and natural gas supplies in the world. The U.S. Energy Information Agency says U.S. oil imports will drop 20% by 2025, and BP projects the U.S. will get 94% of its energy domestically by 2030, up from the 77% we're seeing now. That would cut oil imports in half.
"We are seeing a dramatic collapse in U.S. net imports of oil as we speak, to the tune of almost 1 million barrels a day each year over year for the last four years," said Citigroup strategist, Seth Kleinman.