By Robert Aronen
October 19, 2005
We’ve heard the story a thousand times: The world’s oil is all located in politically unstable countries whose interests are opposed to those of the United States. Yet we have continued to increase imports for more than three decades, creating a dependence on foreign oil that is not easily broken.
Of course, we all know who has the oil. One country boasts the largest reserves on earth. Within the coming decades, its production will likely stand head and shoulders above every other nation’s. Our unfavorable trade balance with this country could politically destabilize and humiliate the U.S. No, I am not talking about Saudi Arabia.