Now on the consumption side, the bulk of the
consumption is coming, of course, from North America and Europe.
But importantly, over the last 25 years, the bulk of
the growth in petroleum consumption has actually come from Asia.
In fact, that growth, to some degree, explain
some of these upticks we've seen, you know, here
in North America, for instance, a bit of
growth in the last several years in petroleum production.
Okay, so basically, consumption dominated by Europe and the Americas
still, but the greatest growth here in the Asia region.
And actually, we see a good amount of growth here in the
Middle East, even though it is growing from a relatively small base.
But basically, emerging, you know, emerging economies is, is how we
think of those places where we're seeing all of the growth.
Now here in the U.S., if we ask where's
the oil produced, you know, we see some familiar names.
We've got the southwest region here, Oklahoma and
Texas, where a lot of oil has been produced.
Actually, the Gulf of Mexico would be second
after Texas if that were considered its own state.
So the gulf region in general of these areas, we
might think of as producing a lot of the nation's oil.
We've got a few other stories to tell among these leading states.
Here, California has a very long history of petroleum production around
Bakersfield, and a heavy oil, off shore oil Ventura, California, places like that.