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THE GLOBALIST QUIZ

America's homegrown oil

Much has been made of the United States’ voracious appetite for oil and the fact that much of it is imported from unstable parts of the world. What is often overlooked, however, is that the United States produces a good deal of oil domestically. Where does the United States rank among the world’s top oil-producing nations as of 2005?

A. First B. Second C. Third D. Fourth

A. First is not correct.

As everyone is well aware, Saudi Arabia is the world's top oil-producing nation, with a daily output of 11.1 million barrels in 2005. What comes as a surprise, though, is that the United States held that title just a few years earlier in 2002. Back then, the United States produced about nine million barrels a day, while the Saudis turned out 8.7 million.

Moreover, that wasn't the first time that the United States reigned supreme in the oil world. In fact, the state of Pennsylvania was responsible for one-half of the world's oil production until the beginning of the East Texas oil boom in 1901, and California was the source of one-quarter of the world's entire output of oil by 1923.

B. Second is not correct.

Russia produced 9.5 million barrels of oil a day in 2005, making it the world's second-largest producer. Russia's production was up from 2002, when it produced 7.7 million barrels a day.

Russia's economic growth has been moving in tandem with its oil revenues. In fact, oil prices have gone up sixfold during President Vladimir V. Putin's tenure.

C. Third is correct.

The United States produced about 8.2 million barrels of oil a day in 2005, according to the US Energy Information Administration. This level of production ranked behind only Saudi Arabia and Russia but was still not nearly enough to meet US demand for petroleum products.

In 2006, US consumers used about 21 million barrels of oil-based products daily or nearly 3 gallons per person per day. That figure is up 28 percent since 1981.

D. Fourth is not correct.

Producing 4.2 million barrels of oil a day in 2004, or a little more than half of US production, Iran was the world's fourth-largest oil producer. Iranian production has changed little since 2005.

Iran exports about 2.5 million barrels of oil per day -- sales that netted the country an estimated $55 billion in revenue in 2006, or more than $156 million each day.

The Globalist Quiz is produced by The Globalist, a Washington-based research organization that promotes awareness of world affairs. © 2006 by The Globalist, www.theglobalist.com.

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