No fuelin’ this time: Oil supply near crisis

Gasoline prices in some places in the region are one thin dime away from $3.50 a gallon. If that’s got you alarmed, consider this finding from the government’s last report on petroleum supply: Nearly two-thirds of the world’s proven oil reserves are in politically risky countries.
The news only gets worse in the crude oil report from the Government Accountability Office. The top 10 oil companies in terms of reserve holdings are, with one exception, government owned. And they are in places unfriendly to America, like Iran and Venezuela, or nations already suffering from political instability, like Iraq and Nigeria, or countries in politically risky regions, such as the Mideast states of Saudi Arabia, Libya and Kuwait.
SunTimes