Charts of the day: the US "oil recovery"
Wednesday, October 3, 2012 at 12:33PM
Thomas P.M. Barnett in Chart of the day, US, economy, energy, extractive industries

Alas, our inevitable "Mad Max" future a bit . . . modified.

From a WSJ interview with Daniel Yergin.

Production up (25% since 2008), drilling way up (didn't Obama and the Dems sabotage all that?), and imports falling.  US demand relatively flat - like Europe's, so the rising production means a substantial drop in import share.  Was 60% in 2005, now 42%, and expected to be roughly a third by 2035 (though I think it happens MUCH earlier).

Of course, now we'll never have to fight a war overseas . . .

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