Spurning unconventional oil

04/07/2008
An energy-craving country obsessed by fear of oil from the Middle East should welcome prospects for a new 7-8 million b/d from North America. Not the US. Not as long as congressional leaders remain blind to how they boost oil prices when they limit supply.Without question, the Middle East will dominate supply of conventional oil for the next several decades. Important supplementary production will grow from countries of the former Soviet Union and Africa. Notwithstanding exceptions such as Brazil, future growth in conventional oil production will occur mainly in the Eastern Hemisphere.Unconventional oilOn the other side of the planet, production nevertheless can grow. But the Western Hemi...
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