Global search for oil turns to the Americas

09/20/2011 | New York Times (tiered subscription model), The

As a series of oil discoveries go into production, a worldwide hunt for the commodity increasingly focuses on the Western Hemisphere. Colombia's production is close to outstripping Algeria's; Venezuela is thought to have more oil than Saudi Arabia; Brazil is building nuclear submarines to defend offshore reserves; and a shale formation in North Dakota is producing 400,000 barrels a day.

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New York Times (tiered subscription model), The

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