Oil from and for the AmericasJune 1, 2012
Growth in oil production from North Dakota to Argentina continues to tip the international balance of power away from the deserts of the Middle East back toward the Western Hemisphere.
NPR reports that “Production is rising fast in Canada, Colombia, Brazil and in the United States, which increased output by 1.7 million barrels in just six years” and that “More than half of all U.S. imports now come from countries in the Americas, while just 22 percent comes from the Persian Gulf.”
Notice that four of the biggest oil producers in the world in the list below are in North or Latin America:
- Saudi Arabia
- United States
- United Arab Emirates
If the West elects pro-energy politicians and gets out of the way of oil producers, OPEC’s days are blessedly numbered.