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11/10/11

Europe in Position to Become Biggest Oil Importer - by JULIA WERDIGIER

The European Union is expected to overtake the United States as the world’s biggest oil importer in 2015, the International Energy Agency said Wednesday in its annual report.

Oil imports to the United States are expected to decline significantly over the coming years because of new efficiency standards for cars and trucks and an increase in domestic oil and natural gas production, said Fatih Birol, chief economist of the agency.


By 2020, China should overtake the European Union to become the world’s biggest importer of oil, according to the Paris-based agency, which acts as a policy adviser to governments.

For more: Europe in Position to Become Biggest Oil Importer - NYTimes.com

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