When in his 2006 state of the union speech George W. Bush singled out America’s dangerous addiction to Middle East oil, Arab leaders, European politicians and oil industry executives scratched their heads in bemusement.

In fact, the US – the world’s biggest consumer of oil and gas – still gets most of its oil from the Americas, home of four of its top five sources of supplies: its own oil fields, and those of Canada, Mexico and Venezuela. Saudi Arabia, its fourth largest supplier, is the only exception.