IEA: US Could Become World's Largest Oil Producer Within Decade

90 percent of Mideast oil would go to China, the the international agency estimated

The US will shed its long-standing dependence on Saudi Arabian oilwithin the next decade, redrawing the world's political systems, heralding a new era of geopolitics – and potentially leading to runaway global warming.

In a report released on Monday, the world's foremost energy watchdog, the International Energy Agency (IEA), said the US will benefit from so-called unconventional sources of oil and gas, including shale gas and shale oil, derived from blasting dense rocks apart to release the fossil fuels trapped within.