Two-thirds of the world's proven oil reserves are estimated to be found in the Persian Gulf,Shrinking Our Presence in Saudi Arabia, The New York Times.The End of Cheap Oil, National Geographic and the United States imports oil from several Middle Eastern countries. While its imports have exceeded domestic production since the early 1990s, new hydraulic fracturing techniques and discovery of shale oil deposits in Canada and the American Dakotas offer the potential for increased energy independence from oil exporting countries such as OPEC.
Two-thirds of the world's proven oil reserves are estimated to be found in the Persian Gulf,Shrinking Our Presence i,n Saudi Arabia The New York Times.The End of Cheap Oil National Geographic and the United States imports oil from several Middle Eastern countries. While its imports have exceeded domestic production since the early 1990s, new hydraulic fracturing techniques and discovery of shale oil deposits in Canada and the American Dakotas offer the potential for in,creased energy independence from oil exporting countries such as OPEC.