U.S. to Become World's Top Oil Producer by 2017: Hot Trends
NEW YORK (TheStreet) -- Popular searches on the Internet include "IEA" as the International Energy Agency forecast that the U.S. will become the world's biggest oil producer and gas producer in the coming years.
The energy agency said the U.S. will become the biggest oil producer in the world by 2017, bumping Saudi Arabia from the top spot. The agency had formerly predicted Saudi Arabia would hold the title until 2035.
The IEA noted high world prices and new technologies in the U.S. oil and gas production industries are driving the rebound in oil and gas production. It forecast U.S. oil production will rise to 10 million barrels per day by 2015 and 11.1 million bpd in 2020.
The IEA also predicted that the U.S. will overtake Russia as the largest gas producer by 2015. It believes the country will become energy dependent around 2030, as North America would become a net exporter of oil around that time.
Nestle is trending as the company issued a recall of Nesquik chocolate powders sold in the U.S. due to possible salmonella contamination.
The company said the recall pertains only to 10.9, 21.8 and 40.7-ounce containers of Nesquik Chocolate Powder produced during October 2012. Customers can check the production code on the bottom of the product to determine if it was made during that time and is subject to the recall. All products under the recall have an expiration date of October 2014.
Nestle said it issued the voluntary recall after a supplier for an ingredient in the product notified the company of possible salmonella presence. The company said no illnesses have been reported.
Advanced Micro Devices(AMD) is another popular search. AMD has unveiled a new graphics card that it says is the industry's most powerful server graphics card.
The AMD Dual-GPU FirePro S10000 runs high-performance computing workloads and graphics intensive applications. AMD said it is the first professional-grade card to exceed one teraFLOPS of double-precision floating point performance.
The card comes with a $3,599 price tag and has already begun shipping to some of AMD's partners.
It is aimed at use in fields including finance, oil exploration, aeronautics, automotive design and engineering, geophysics, life sciences, medicine and defense. AMD said the card's high throughput and low latency transfers will lend itself to quick computing of complex calculations where high accuracy is needed.
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move.
-- Written by Brittany Umar.