THE FUTURE OF OIL.

The article discusses the oil industry as of April 2012 and examines the environmental impact of several extreme oil drilling practices, including deep water drilling in the Arctic Ocean, oil sands in Canada, and fracking in the U.S. It states that the demand for oil continues to increase and is expected to reach 800,000 barrels per day in 2012. The rich shale oil deposits being explored in the Bakken formation in South Dakota are mentioned. The emergence of Brazil as an oil-producing partner for the U.S. is examined in light of the instability in the Middle East oil markets. Several charts and diagrams are presented, including a graph which shows oil barrel prices from 1870 through 2011.