WHILE oil drilling has never been a big industry in Slovakia, multiple tons of crude oil have been extracted each year in Slovakia for the last century.  But existing oil deposits are running out, according to the Slovak cabinet in its Report about Security of the Slovak Republic for 2014. Regardless, Slovakia has usually depended on crude oil imports for more than 99 percent of its supply.  “Local extraction of crude oil compared to consumption is almost negligible”, the report states. “A trend of its gradual reduction up to the total exhaustion of oil deposits, roughly about 2020, is expected.”

Click here to view full article at peakoil.com