Forum Discussion
LindsayRichards
Jan 19, 2013Explorer
The ND crude now unfortunately is only about 1% of the total world supply and less than 5% of the US's daily usage. Could be much more, but investors are holding back on investing until the future regulations on fracking and pipelines become clearer. All commodities follow the world price whether it be wheat, corn, gold, silver, sugar, and just about everything that is transportable. A great example now is that US natural gas is abundant here, but illegal to be shipped out of the US and the price here is only 30% of the world price. This costs us a lot of jobs. North America could import no oil by 2020.
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