New Oil Reserves Could Push Americas Ahead of Middle East

Simon Romero
New York Times
September 20, 2011

RIO DE JANEIRO — Brazil has begun building its first nuclear submarine to protect its vast, new offshore oil discoveries. Colombia’s oil production is climbing so fast that it is closing in on Algeria’s and could hit Libya’s prewar levels in a few years. ExxonMobil is striking new deals in Argentina, which recently heralded its biggest oil discovery since the 1980s.

Up and down the Americas, it is a similar story: a Chinese-built rig is preparing to drill in Cuban waters; a Canadian official has suggested that unemployed Americans could move north to help fill tens of thousands of new jobs in Canada’s expanding oil sands; and one of the hemisphere’s hottest new oil pursuits is actually in the United States, at a shale formation in North Dakota’s prairie that is producing 400,000 barrels of oil a day and is part of a broader shift that could ease American dependence on Middle Eastern oil.

For the first time in decades, the emerging prize of global energy may be the Americas, where Western oil companies are refocusing their gaze in a rush to explore clusters of coveted oil fields.

“This is an historic shift that’s occurring, recalling the time before World War II when the U.S. and its neighbors in the hemisphere were the world’s main source of oil,” said Daniel Yergin, an American oil historian. “To some degree, we’re going to see a new rebalancing, with the Western Hemisphere moving back to self-sufficiency.”

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8 Responses to “New Oil Reserves Could Push Americas Ahead of Middle East”

  1. There is no shortage of oil and there won’t be any time in the next several centuries.

    Peak oil is a fabrication.

  2. so much oil, yet the prices remain so high….

  3. this sucks a lot guys

  4. Oil sucks. Elevate your thinking. Move past it.

  5. Most people have never heard of the Bakkan and Green River formations in the west of the United States. The one mentioned in this article isn’t just in North Dakota (Bakkan) and when you pair it with the Green River formation we have more oil then Saudi Arabia.

  6. Just like Lindsey Williams was told from his oil elite friend, long known about oil deposits are going to be finally opened up soon, and the Middle East will become broke when the dollar becomes almost worthless.

    • Lindsey Williams also said that it is was a well organized plot to double cross the OPEC nations. He also said that the price of gas will go up to 7 dollars a gallon which will destroy the econlmy. Oil found here in America is NOT going to be a good thing. THEY have known about these oil fields for a long, long time and are using it as a weapon against us. Just another lie and deception of the crafters of evil to manipulate humans. We are just here to serve them as slaves in their eyes. NOTW and already know the truth, nothing shocking here, but the real fact: they are relocating oil production out of the Middle East and relocating it in America so they can use the Middle East for WW3. Isreal has discovered oil “from the deep” that will sustain them till the end of time. It’s so vast that the Arab world is furious and ‘drunken with hatred’ over it. The arabs believe that the land belongs to them and Isreal is an illegaly occupied country that needs to be given back to Palestine. The stage is set, the clock is ticking, we’re in a race with the thief in the night…… give it all you’ve got down the home stretch kickin, cause we could be gone in the blink of an eye…. We’ve reached the point of no return…We’d Better Run…… we’ve gpt gppd news to tell the world…..We’d Better Run…….we’ve got to sow the seeds of love…..We’d Better Run…. I see the writing on the wall…..We’d Better Run……Theres no time left to lose…… We’d Better Run

  7. Drill baby drill!

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