I’ve said it before, but it needs to be said again: The US is not overtaking Saudi Arabia as the world’s largest producer of oil. Here’s what everyone needs to know:
• This is a trick of numbers: We cannot compare total combined liquid hydrocarbons produced by the US with Saudi Arabia’s strictly crude oil production.
• The International Energy Agency (IEA)—from whence these numbers originate–is by no means an independent energy body: It has motive and agenda, and it deals mostly in PR
Read more: http://tinyurl.com/auwcmdm