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Last time the US was a net oil exporter was in the 70s, in fact it became an importer when the oil crisis. It has never regained that status since then.
by anonymou2 8y ago
Last time the US was a net oil exporter was in the 70s, in fact it became an importer when the oil crisis. It has never regained that status since then.
- anonymou2 8y agoActually even earlier than that: http://mazamascience.com/OilExport/output_en/Exports_BP_2017_oil_bbl_US_MZM_NONE_auto_M.pdf http://mazamascience.com/OilExport/output_en/Exports_BP_2017...
- JumpCrisscross 8y ago> Last time the US was a net oil exporter was in the 70s Pardon me, edited. Point being that the net oil imports the U.S. economy requires are too small to be entirely dependent on Saudi oil. As long as the KSA is selling oil, the critical factor to the American economy--oil prices--will remain roughly stable.
- ilaksh 8y agoThey are not _entirely_ dependent, no. But according to the numbers given by CNN and Wikipedia (I put links in my other comment), the US imports about 40% of its oil from Saudi Arabia.
- cr1895 8y agoNope, just 9.4% in 2017. https://www.eia.gov/dnav/pet/pet_move_impcus_a2_nus_ep00_im0_mbbl_a.htm https://www.eia.gov/dnav/pet/pet_move_impcus_a2_nus_ep00_im0...