From Reporter News
"The reason we lead the world and had such spectacular growth in these two centuries is simple. We controlled the oil supply of the world.
The development of the petroleum industry began in the United States, because there were large reserves of oil, and the automobile and the airplane were developed in the United States. The development of the United States into a great industrial power in the 20th century was built on the exploitation of oil. When large new reserves were discovered in Texas in the 1930s, oil became so abundant, that it was cheaper than water. Six major oil corporations, all based in the United States, came to dominate the industry both at home and abroad. The only one of the so-called seven sisters not based in the United States was British Petroleum.''
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