[QODLink]
Americas

US oil supply weathers Mideast turmoil

Surge in domestic production overcomes fears that Middle East crisis would lead to spike in global oil prices.

Last Modified: 31 Aug 2013 08:46
Email Article
Print Article
Share article
Send Feedback

Political crises in the Middle East had raised fears of an oil price shock around the world.

But so far that has not happened, in large part because the US - which is the world’s biggest oil consumer - increased output from its own wells.

The US President, Barack Obama, said the surge of domestic oil production, together with more fuel-efficient vehicles, was putting energy independence within sight for the country.

Al Jazeera's Tom Ackerman reports from San Antonio in Texas.

83

Source:
Al Jazeera
Email Article
Print Article
Share article
Send Feedback
Topics in this article
People
Country
City
Featured on Al Jazeera
As Western stars re-release 1980s charity hit, many Africans say it's a demeaning relic that can do more harm than good.
At least 25 tax collectors have been killed since 2012 in Mogadishu, a city awash in weapons and abject poverty.
Tokyo government claims its homeless population has hit a record low, but analysts - and the homeless - beg to differ.
3D printers can cheaply construct homes and could soon be deployed to help victims of catastrophe rebuild their lives.
Featured
Pro-Russia leaders' election in Ukraine's east shows bloody conflict is far from a peaceful resolution.
Critics challenge Canberra's move to refuse visas for West Africans in Ebola-besieged countries.
A key issue for Hispanics is the estimated 11.3 million immigrants in the US without papers who face deportation.
In 1970, only two mosques existed in the country, but now more than 200 offer sanctuary to Japan's Muslims.
Hundreds of the country's reporters eke out a living by finding news - then burying it for a price.