Why is the US still buying oil from the Middle East?

Question

Canada has enough oil rserves to satisfy the US demand for 250 years.
Why is the US still buying oil from a region that is in turmoil and can manipulate the oil cost and production?

Currently Canada supplies 30% of the oil needed to the US.
China is buying up the oil reserves in Alberta.
The Middle East will run out of oil.
Dubai is currently going to run dry in 10 years.
See where it is going?

Answer 1

Actually, the largest supplier of oil to the U.S. is Canada, and the U.S. only gets about 15% of it's oil from the middle-east. We also get oil from Africa, S. America, etc.

But "where" we get oil from has little bearing on the problem. Oil, any oil regardless of where it comes from is sold on the world market. Oil from Canada isn't cheaper than oil from anywhere else. The only difference is that we have agreements with various suppliers to supply us oil at certain points in time. But we still must pay the going price.

So, if we continue to waltz into oil producing countries and destroy their oil producing capabilities, eventually we will affect the worldwide oil supply. Fortunately in the case of Iraq, other producers have been able to make up for what Iraq can no longer produce.

As for buying all of our oil from Canada for the next 250 years, -sure we can do that but we still have to pay the going rate,and if demand goes up, up, up we may be paying $100 a barrell or $200 a barrell.

Even if we were to invade Canada and "take over" their oil, U.S. oil companies wouldn't provide it to us consumers at below market prices out of the goodness of their hearts. Their goal is to maximize shareholder revenue which means, exploit us to our breaking points so as to wring every possible penny out of us that they can - it's called capitalism.

Answer 2

Having oil reserves is different then having the capacity, or desire, to process all those reserves at a rate which will keep up with demand.
I don't have all the facts but I know Canada is not producing enough oil to satisfy American demand. I also know that America has large untapped reserves which are going unused, primarily due to environmentalist influence. South America, including Venezuela, also has rich oil reserves.
unfortunately the US has put itself in position where we have an insatiable demand for oil and no other region of the world is producing enough to meet that demand.

Answer 3

Canada might have enough oil reserves, but not nearly the production capacity to feed the US's oil demand. As it stands right now, the production capacity of the world is about the same as the demand worldwide.

Answer 4

You have your facts all wrong. There is no other option for oil but to get it from the middle east. 60% of the worlds remaining supply is there.

The world doesn't have enough oil for the next 40 years, much less 250.

Answer 5

The Oil companies and Car Dealers want the US to buy Oil.

Bush and the Rebublicans get millions from the Oil companies to keep us from ever finding an independent fuel system for our cars.

Don't vote for Bush or the Republicans in 2008!

Answer 6

We could get a lot of oil from Canada and Alaska - but the liberals (who, incidentally are the same people whining about the Middle East situation) - are the SAME people who would whine about the environmental consequences of getting oil from alternate places. There ya go! :)

Answer 7

It no doubt stabilizes the region to have us purchasing some of our oil from the middle east. But that aside its true Canada has it but they may have a hard time getting it....they are banana's up there....by that I mean enviornmentally speaking they follow the theory: Build Absolutely Nothing Anywhere Near Anything (BANANA)...so getting oil from them could be impossible to very expensive.

Answer 8

We're saving that for later. Just like the Chinese import all of the raw products they use, such as steel and aluminum. At the end of the day there will still be some left for us.

Answer 9

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Answer 10

I don't know about canada, can you tell me where you got those figures? If [eople relied more on alternative fuel and conservation it would take car of the whole problem.