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How Bad Off Is Oil-Rich USA? It’s Buying oil from all over the world! in 2015, the USA imported 9,400,000 barrels every day from 82 countries (Mostly from Cana
by alphydan 10y ago
How Bad Off Is Oil-Rich USA? It’s Buying oil from all over the world!
in 2015, the USA imported 9,400,000 barrels every day from 82 countries (Mostly from Canada, Saudi Arabia and ... surprise, surprise from Venezuela).
Now the NYT thinks that Venezuela importing 50,000 barrels of light crude (to dilute their heavy crude) is news? They forgot to mention that last year the US imported 830,000 barrels from Venezuela (the third largest supplier to the US). If you read the actual import/export numbers [0], you will understand that it's just a political submarine article. The reason Venezuelan oil production is declining is a pretty complex phenomenon (driven mostly by Geology and exacerbated by mismanagement, brain drain, corruption, etc).
[0] http://www.eia.gov/tools/faqs/faq.cfm?id=727&t=6 http://www.eia.gov/tools/faqs/faq.cfm?id=727&t=6
- abysmallyideal 10y agoThe US is hot on the plan to burn all of the world's fossil fuels and natural gasses before anyone else does. Some old strategy from ww2. Edit: my android autocorrect is altering my posts
- alphydan 10y agoI'm afraid there is no such plan. US production has been declining since the 70s in spite of all attempts to keep it going. Only with the >$100/barrel prices from the last few years did fracking become viable and production recover (Tight oil's growth in the US is not expected to last very long though).