A Symposium of Views: What are the Chances the United States Becomes Energy Independent?
The International Economy
Fall 2013

Wayne D'Angelo, special counsel, and Greg Mastel, senior international trade/tax advisor, wrote a contribution to The International Economy article "A Symposium of Views: What are the Chances the United States Becomes Energy Independent?" Wayne and Greg's section, entitled "The United States could soon run a trade surplus through energy exports," discusses how, for the first time in sixteen years, U.S. oil production surpassed imports, and it is estimated the U.S. will be the world's top producer of petroleum products and natural gas by the end of 2013. This increase in production is due to hydraulic fracturing, or fracking, combined with horizontal drilling. Wayne and Greg discuss the game-changing nature of these technologies and what the implications of a lower trade deficit would be for the U.S.