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News // Politics

Hard Truth About US Oil Reserves

08 June 2004 , 09:35573
Yesterday evening US oil major ExxonMobil?s chairman Lee R. Raymond has made a startling statement: the idea of American energy independence is a myth.
He meant that the United States do not have the strategic resource base enough to be energy independent, and the US must maintain "constructive relationships" with all oil-producing countries for its own prosperity. Raymond emphasized, that Russia among prospective oil producing states is the one of the most preferable. Other important countries are Saudi Arabia and Venezuela.
Raymond, who runs the world's largest oil company, said that while other countries, including Russia, will play a growing role in supplying oil to the world, the Middle East will remain the center of supply because it holds as much as half of the world's oil reserves.
Raymond said: ?The fact that the United States and the rest of the world will have to depend increasingly for oil and natural gas from Middle East is not a matter of ideology or politics.It is simply inevitable."

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