North American oil and gas—1: Missing the boom

The International Energy Agency, in its much-discussed World Energy Outlook 2012 (WEO 2012), said North America would become a net exporter of oil around 2030. Most observers probably thought IEA was talking just about the US and Canada, which it mostly was. Developments in those countries—surging production of oil from unconventional resources and deep water coupled with flattened consumption—drive changes with global consequence. Then there's Mexico. Stinging developments For Enrique Pena Nieto, who became president of the third-largest North American country on Dec. 1, developments to the north must sting. His country has geologic potential comparable to those of the US and Canada. Yet...

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