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Is America's Current Oil Boom Real

series: Global 3000

air date: 6/02/13 6:00 AM

Texas - The New Oil Boom - Soon the US will swimming in oil - at least, that's the way it looks to some people. More than 100 years after the first oil boom in Texas, people are pinning their hopes on the Eagle Ford Shale formation in the southern part of the state. The site yields more than 100-million dollars' worth of oil every month. Some experts warn that production can't continue at these levels over the long term. But even if production does decline, the International Energy Agency predicts that the U.S. may well become energy-independent by 2035. Global Living Room: Vietnam - Nguyen Tuan Bao and his wife Khanh have lived in the same building for 40 years. Their eldest son lives above them and their youngest in the ground floor apartment. Nguyen Tuan Bao, who works as a tourist guide, is especially proud of the time he spent studying in the former East Germany. South Africa - A Town in Transition - South Africa's economic growth is powered by fossil fuels. Electricity is produced mainly by environmentally unfriendly, coal-fired power plants. But some people are trying to change that. In the hamlet of Greyton, about 150 kilometers northeast of Cape Town, 100 activists have joined forces to make their town more sustainable and energy-independent, by turning it into a Transition Town. They want to revamp the entire local infrastructure, increase the use of solar power, and promote the use of regional products. They're also trying to educate local young people about the importance of protecting the environment. Organic Cosmetics and Fair Wages: Filipino Social Entrepreneur Anna Meloto Her company, Human Nature, aims to fight poverty in the Philippines while producing cosmetics sustainably. More than 90 percent of the country's population live on the equivalent of less than two euros a day. Prices are rising -- particularly for basic foods such as rice. Meloto's company pays fair prices for the raw materials it uses to produce its cosmetics -- and provides an important source of income for many farmers.

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