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Guest Post: Selling The Oil Illusion, American Style

By: capt_nemo in ROUND | Recommend this post (0)
Tue, 15 Nov 11 5:03 AM | 40 view(s)
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Msg. 36307 of 45651
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US production of crude oil peaked in 1970 at 9.637 mbpd (million barrels per day) and has been in a downtrend for 40 years. Recently, however, there's been a tremendous amount of excitement at the prospect of a "new era" in domestic oil production. The narratives currently being offered come in the following three forms: 1) the US has more oil than Saudi Arabia; 2) the US need only to remove regulatory barriers to significantly increase production; and 3) the US can once again become self-sufficient in oil production, dropping all imported oil to zero.

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http://www.zerohedge.com/news/guest-post-selling-oil-illusion-american-style

Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.

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