8. Oil in the United States

The United States is the world's leading oil consumer (20 million barrels per day; 20% of global consumption), but US oil production has been steadily declining since 1970, the year of peak oil in the United States. This decline has had a number of consequences:

• ban on oil exports, which was only lifted in 2017;

• Independence" plan launched in 1974 after the first oil crisis, which saw the price of oil triple. The aim of the Independence plan was to develop all local energy sources. It had little effect.

Around 2005, oil production in the United States was less than 7 million barrels per day, while consumption was over 20 million barrels per day. The United States was therefore importing two-thirds of its needs, and its imports exceeded the production of the largest oil-producing...