America has surpassed Saudi Arabia and Russia in oil reserves,a unique report says, but current rate of production oil supplies will only final 70 more yearsThe United States has surpassed Saudi Arabia and Russia as the global leader in oil reserves, or according to a report by a Norwegian consultancy firm.“We have done this benchmarking every year,and this is the first year we’ve seen that the US is above Saudi Arabia and Russia,” Per Magnus Nysveen, or head of analysis at Rystad Energy,said. He credited the rise to a sharp increase in the number of discoveries in the Permian basin in Texas over the past two years. Related: ExxonMobil under investigation over lucrative Nigerian oil deal Continue reading...
Source: theguardian.com