ABOUT 90 million barrels of oil and gas are produced per day in the world, 20% of that in the United States. And about 50% of what we consume in the United States is imported.
But that picture is rapidly changing, according to Derek Kaufman of the C3Network Inc.
“Today, the US is doing 19 million barrels per day and China is doing nine,” he said. “In four years, the idea is that because of manufacturing and growth in China, they will be consuming more oil than us....More