North America Losing Its Oil Edge

[xchrom]

http://blogs.scientificamerican.com/plugged-in/2012/01/29/north-america-losing-its-oil-edge/

For good or bad, from 1980-2010, North America lost some of its oil production edge.

Thirty (two) years ago, this region of the world represented 20% of the world’s crude oil production. But, according to a recent report by the U.S. Energy Information Administration, North America has been slowly losing its market share. In 2010, the region represented just 15% of the world’s crude oil production, with a significant portion of its share shifting to Asia, Africa, and the Former Soviet Union.

[doc03]

1. We are into the Utica shale oil and gas boom in this area, The meme the

energy companies are pushing is there is more oil under Ohio than there is in Saudi Arabia. From what I have read we have 5-6 billion barrels in Ohio, that's enough to supply the USA about 1 year. But the oil companies have most people convinced the fracking will give the USA enough oil to be self sufficient.

[xchrom]

2. it's all such a lie.

the political establishment and the corporate establishment keep saying things that leads people to believe all that oil will stay here -- and of course -- IT DOESN'T.