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Oil: Here & There

4:31 PM, Jun 19, 2014 • By GEOFFREY NORMAN
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In Iraq: Sameer N. Yacoub and Qassim Abdul-Zahra of the AP report that:

Sunni militants hung their black banners on watch towers at Iraq’s largest oil refinery, a witness said Thursday, suggesting the vital facility had fallen to the insurgents who have seized vast territories across the country’s north. A top Iraqi security official, however, said the government still held the facility.

Since oil remains the commodity upon which the stability of nations in general and the prosperity of this one, in particular, hang,  the good news is that

Here: As Josh Wood of AP reports:

North Dakota has joined the ranks of the few places in the world that produce more than a million barrels of oil per day, due in large part to the rich Bakken shale formation in the western part of the state. North Dakota's oil fields now represent more than 12 percent of all U.S. oil production, and more than 1 percent of global production.

The less the U.S. depends on the mid-east for oil, the more that is produced here and close to home, the better.

Wasn’t there a pipeline from Canada people were talking about?

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