The United States could become nearly self-sufficient in oil within the next decade. Oil production from Texas, North Dakota and other shale-rich states means the country is less reliant on foreign oil than at any time since at least the Arab oil embargo of the 1970s. Production has reached the point that authorities are calling on U.S. lawmakers to consider exporting oil from the Strategic Petroleum Reserve, a cushion normally reserved for domestic markets. That level of energy independence is redefining the aspects of the global marketplace. It will do little, however, to isolate the United States from its dynamics.
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