NUMBERS PROVE IT: The U.S. Oil Industry Is In Serious Trouble
By: Steve St. Angelo, SRSrocco Report
GoldSeek.com
Friday, 27 March 2015
There is this silly notion that the United States will become energy independent in the next several years, thus making it unnecessary to import oil from Middle Eastern countries such as Saudi Arabia. While some fairy tales in life may come true…. U.S. energy independence isn’t one of them.
Even though the U.S. is supposedly producing more oil than it has in 42 years, this is a party that won’t last long. According to the U.S. Energy Information Agency (EIA), the United States produced an amazing 9.4 million barrels per day (mbd) during the week of 3/20/15, compared to 9.3 mbd of oil back in December, 1972.
That being said, there still seems to be a significant percentage of mortals out there who believe “Peak Oil” is complete nonsense as the Abiotic Oil Theory proves that oil fields continue to refill from the black gold that is produced deep inside the creamy nougat center of the earth.
One individual who continues to regurgitate this Abiotic Oil Theory is Jerome Corsi, the author of Black Gold Stranglehold. Corsi, who is a frequent guest on the late night talk show Coast-to-Coast-Am, believes high oil prices over the past decade were due to the manipulation by the greedy corrupt major oil companies.
Well, Mr. Corsi might know how to write a great book to get the conspiracy folks all worked up, but applying simple 4th grade math totally destroys his faulty theories.
The Rest…HERE
