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An update on America’s Oil Dependence May 1, 2008

Posted by Daniel Downs in domestic oil production, economy, energy, Middle East, news, oil dependence, oil imports, politics.
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Hot off the press is Energy Information Administration’s Energy in Briefs: What everyone should know about energy and was afraid to ask. Okay, it is more likely did care to ask. This on-line publication is the government’s version of Energy for Dummies. Any Middle Easterners who may be among readers of this post, please don’t mistake this as being Energy for Dhimmis. Actually, the following is meant to inform us dummies on the basics about American dependence on foreign oil.

Although we are the third largest oil producer, most of the oil we use is imported.

Net Imports and Domestic Oil as Shares of U.S. Demand

Energy Information Administration

The United States produces 10% of the world’s oil and consumes 24%. The United States was third in crude oil production at 5.1 MMbd. The United States consumed 20.7 million barrels per day (MMbd) of petroleum products during 2006 making us the world’s largest oil consumer. In addition to crude oil, significant contributions to U.S. petroleum supplies came from natural gas plant liquids, refinery gain, and alcohol fuels. However, we still needed 13.7 MMbd of imported crude oil and petroleum products to meet U.S. demand. The United States also exported 1.3 MMbd of crude oil and petroleum products during 2006, so our net imports (imports minus exports) equaled 12.4 MMbd.
Western Hemisphere nations provide about half of our imported petroleum.

Sources of U.S. Petroleum Imports (2006)

Energy Information Administration

Almost 50% of U.S. crude oil and petroleum products imports came from the Western Hemisphere (North, South, and Central America and the Caribbean including U.S. territories) during 2006. We imported only 16% of our crude oil and petroleum products from the Persian Gulf countries of Bahrain, Iraq, Kuwait, Qatar, Saudi Arabia, and United Arab Emirates. During 2006, our five biggest suppliers of crude oil and petroleum products were:

  • Canada (17.2%)
  • Mexico (12.4%)
  • Saudi Arabia (10.7%)
  • Venezuela (10.4%)
  • Nigeria (8.1%)

Net imports have generally increased since 1985 while U.S. production fell and consumption grew

Consumption, Production, and Import Trends (1950-2006)

Energy Information Administration, Annual Energy Review, 2006 (June 2007)

The Energy Information Administration (EIA) projects U.S. crude oil and petroleum products imports will hold approximately steady in the next two decades. Total U.S. oil consumption is expected to increase 2.1 MMbd by 2030. Meanwhile, U.S. crude oil production increases in the Gulf of Mexico and elsewhere, combined with increasing biofuel and coal-to-liquids (CTL) production, are expected to eliminate the need for increased imports over the longer term. Assuming moderate price increases, U.S. net imports of crude oil and petroleum products will decrease slightly to 12.3 MMbd to meet demand of 22.8 MMbd by 2030. In this case, U.S. oil import dependence will fall from nearly 60% in 2006 to 54% by 2030.

Please note above that among the service categories under which this post is to be identified is politics and also note at end of post are EIA’s future predictions concerning energy demand and supply. I suspect EIA’s predictions do not take into account the current economic jihad being waged by certain OPEC members or the probable collusion of certain Democrats that were identified in a previous post.

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Comments»

1. crude oil | Hottags - May 2, 2008

[…] An update on America’s Oil DependenceThe United States produces 10% of the world’s oil and consumes 24%. The United States was third in crude oil production at 5.1 MMbd. The United States consumed 20.7 million barrels per day (MMbd) of petroleum products during 2006 making …The State of America – https://thestateofamerica.wordpress.com […]

2. oil consumption in the caribbean - May 16, 2008

[…] likely did care to ask. This on-line publication is the government??s version of Energy for Dummhttps://thestateofamerica.wordpress.com/2008/05/01/an-update-on-americas-oil-dependence/We are facing a humanitarian drama of incalculable consequences Granma InternacionalDear Commander […]

3. Anonymous - September 7, 2008

I don’t understand why other countries located in less developed parts of the world are suffering from the demand for natural resources in their countries. Shouldn’t their country be thriving because of the increase in profit and economy or has their country become an autocracy?

4. jude - September 14, 2008

why is america so bad

5. FleelaBix - May 20, 2009

Solid website i will definitely come back again.


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