Nick Nasad
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Great Graphic: America Beats Out Russia as World's Largest Gas/Oil Producer

By now, you may or may not have heard that the US has managed to unlock lots of new oil and gas production as a result of the "shale/fracking revolution". 

Here's a great graphic showing that change, as the US managed to pass Russia as the world's largest combined oil and gas producer for 2012/2013.

It was only a short while ago, that US dependance on foreign oil was a major negative factor for the US, as it means wider trade and current account deficits. Well, that narrative is now being turned on its head and the old relationships that governed gas supplies (mainly from Russia to Europe) are now being disrupted.

The benefit to the US is that with extra gas coming online, electricity is becoming cheaper, which makes US manufacturing have a comparative advantage - and which is responsible for jobs moving back to the US, with even foreign companies opening up new factories and plants.

- Nick