Indeed, as late as 1952, U.S. crude oil production (44 percent of which was in Texas) still accounted for more than half of the world total. However, that historical role came to an end in 1971, when excess crude oil capacity in the United States was finally absorbed by rising demand.
The Greek banking system is clearly becoming more compact and efficient, as conditions are being put in place to enable it to exploit synergies and economies of scale. It is becoming stronger and better-capitalised. At the same time, it has retained its significant presence in south-eastern Europe.