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Old 07-30-2012, 09:04 PM   #410
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Quote:
Originally Posted by unfocused1 View Post
The last I'd read, we were exporting oil, so we can't be too dependent...

http://finance.yahoo.com/blogs/daily...174452881.html

Weird.
Exporting refined oil products back when that story ran anyway.

Quote:
Despite the notion that the U.S. is currently hugely reliant on foreign oil, the country sold 34,000 more barrels of petroleum products a day than it imported in November 2010. And, in both December and February, the U.S. sold 54,000 more barrels a day. Net imports have not been negative for nearly two decades.

Part of this has to do with weak U.S. demand in recent years due to the recession. The other part rests on the growing demand in our own backyard for not only crude oil, but refined oil as well.

Mexico, Latin America and even OPEC member Ecuador are some of the U.S.'s top customers for fuel products, namely refined oil. Rising demand in these countries far outpaces their capacity to refine crude oil into petroleum products like gasoline or diesel fuel.
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