Where is the most OIL in the world? (Canada/USA) (28)
USA and the coastal regions around Andhra Pradesh in India
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ali110: Saudi Arab = #1 Producer of Oil In the world
United states #1 Consumer of Oil in the world
United states #1 Consumer of Oil in the world
Actually Russia took over top producer in 2009 and it is said that soon Canada make overtake SA for second place.
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viva007: USA and the coastal regions around Andhra Pradesh in India
would it be true to say as many believe 57 per cent of the
worlds oil resources are in the middle east. is it possible
that is why the super powers are so focused on the middle east.
and to have an influnce there maybe that is their real goal.
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Albertaghost: The object isn't to make a lot of money nor is it to become independent. If we use up our own oil now, we will have to import later whereas, using theirs now means we will have when others have not. In any case, oil in the ME is easy to get at and cheap to extract wheras our oil in NA is not so fiscally, it makes sense to buy from others at today's prices and, when oil goes up in price, new technologies can be used to extract this oil for better resource management and, higher profit.
Flooding the market with cheap oil that costs more to produce and driving down prices while lowering your resource reserves is irresponsible for any government looking further than a decade in the future. Hence, I tend to disagree with the bulk of the posters here who call the reluctance to develop any and all reserves wrong.
Flooding the market with cheap oil that costs more to produce and driving down prices while lowering your resource reserves is irresponsible for any government looking further than a decade in the future. Hence, I tend to disagree with the bulk of the posters here who call the reluctance to develop any and all reserves wrong.
These are good points. But the whole situation is not as simple as it sounds.
The Bakken deposits, while truly enormous, are shale oil deposits, unlike the liquid deposits found in the Middle East, the North Sea, Alaska, the Gulf of Mexico, Venezuela, and elsewhere. Basically that means the oil you want is suspended in a matrix of loose shale. You can't drill for it and then pipe it up; it's rock. Instead you must strip-mine all the material (at huge cost) and then extract the oil from the flake-like rock. Once you've done that, you have crude, ready for refinement, but you also have untold tons of shale rock you have to truck away and dump...somewhere. In short, the scale of investment necessary to begin producing refined oil outweighs the potential gain. The US had one shale-oil extraction operation, in Colorado. It went out of business years ago. It's simply cost-prohibitive as yet. Work on the fields in Canada continues; vast acres of the Bakken deposit are on the surface there. But so far it's still more trouble than it's worth.
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royester24: would it be true to say as many believe 57 per cent of the
worlds oil resources are in the middle east. is it possible
that is why the super powers are so focused on the middle east.
and to have an influnce there maybe that is their real goal.
no idea about that but reliance is trying to open a gas basin in here in AP,Indiaworlds oil resources are in the middle east. is it possible
that is why the super powers are so focused on the middle east.
and to have an influnce there maybe that is their real goal.
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Dagosto: These are good points. But the whole situation is not as simple as it sounds.
Exactly. It is a financial and technological problem rather than some insidious government scam.
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Bush is behind it all 
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United states #1 Consumer of Oil in the world