Where are the new oil booms?

Question: Where are the new oil booms?

Michael Klare:
The new oil booms? Well, they are really a very few countries left in the world that are capable of adding to the world supply of oil. Most of the oil producers are in decline, so that handful of countries that are able to increase oil are Azerbaijan and Kazakhstan and the Caspian’s sea area, may be Iraq, in the Persian gulf and we know what problems are faced in Iraq and then Africa, Algeria, Libya, Sudan, Angola equatorial Guinea and Nigeria and not too many other countries really may, be Venezuela may be Colombia, but that is about it.

Recorded: 3/14/08

There aren’t too many of them left, Klare says.

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