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Based on data from OPEC at the beginning of 2013 the highest proved oil reserves including non-conventional oil deposits are in Venezuela (20% of global reserves), Saudi Arabia (18% of global reserves), Canada (13% of global reserves), and Iran (9%).
For decades America worried about energy dependency, yet today America is the worldâs No. 1 producer of oil and natural gas, in large part due to the development of hydraulic fracturing, a product of public research and private energy.