The U.S. is on the verge of something no one thought could happen – it will reclaim the title of world’s largest oil producer, probably in about five years or less, due, in part, to new technologies and practices enabling drillers to go into ever deeper waters, ever colder climates and into shale formations with the process known as fracking.
According to the International Energy Agency, it will be seven years; Leonardo Maugeri of Harvard University believes it will be sooner, in 2017. And peak production will surpass the previous peak back in 1970, when gasoline was 29 cents a gallon. Right now, companies serving the next generation of oil and gas production – shale oil and gas, deep water oil and gas, harsh environment oil and gas – are the most visible opportunities inside the American energy renaissance. Don’t try to discover who has the best oil fields; instead, play the boom in the sector, avoid dry wells.
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Here are 5 key stocks that are poised to benefit from the U.S. energy revolution: