The media talks about " climate change " all the time but rarely talk about " Peak oil " . When most people think of oil they of oil shooting out of an oil well . This is the cheapest form of oil to produce. This type of oil is mostly found in the middle east countries like Saudi Arabia.
In the United states yes there is a lot of oil but the problem is its far more expensive type of oil . Shale oil is not really oil in the first place . Its shale rock that's turned into oil . We my be the Saudi Arabia of shale oil but Saudis have the cheap oil .
Oil production of cheap oil in the United States peaked around 1970. The largest oil field of cheap oil was discovered in mid 1960s in Saudi Arabia. In order to have access to this oil . We made a deal with the Saudis in 1973 . This was called the " Petro dollar "
