Why does the US buy foreign oil from overseas?

Answer 1

Hey Kidd,

The United States is able to produce approx. 20% of the oil that it needs. North America is able to produce another 10-20%. This means the remaining 60% must be imported

Hope this helps,

James in San Diego

Answer 2

Yes, foreign oil must come from overseas... :)

The US does produce a fair amount of oil, something like 20-25% of what we use. But clearly, we need to import a lot.

Mexico produces some and Canada's output is increasing, but oil is a "fungible" resource. That is, you can't say that you'll only buy it from certain countries or regions, because it just doesn't matter - we can't truly control where all of our oil comes from.

(and given that ALL oil gets used, it doesn't "hurt" Iran or other countries like that if we don't buy their oil. The fact that we, and a lot of other countries, use so much keeps the price high for everybody.)

By the way, if we drill on the arctic northern slope, it will give us another 2-4% of our daily required amount - oil that won't have to be imported.

(But I would point out that its sort of a drop in the bucket, and we'd be better off dropping our demand by 2-4%, but that's the liberal in me.)

Answer 3

Unfortunately, the US doesn't produce enough oil to meet its needs;therefore, it has to import oil from other countries, and most of them are OPEC members. In addition, most of those oil reach countries are in the middle east which is really iritating. Hugo Chavez , the president of oil reach Venezuela is allied himself with muslim countries which makes it harder for the US to find other
recources of oil. Does the US have other solutions?I think at this time there is none. It will take a long time for the US to become less dependent on oil.More electic and hydro powered cars that can offer only rich. More oil reserves puts Alaska into a dangerous situation to become contaminated.Build an oil pipe from Russia is a good idia but will require a lot of money and time. Iran is the biggest problem at this moment that really has impacted our economy even the US doesn't buy any oil from Iran.
fewer conflicts and disasters means lower gas prices.

Answer 4

Because the U.S. can't produce enough of its own to meet the need. The U.S. is by far the biggest user of oil in the world. I'm in Canada and it's interesting to note that not only do we have more oil than the mideast but we have more than half of the fresh water in the world. I just wonder how long it'll be before the U.S. "liberates" us to give us "democracy".

Answer 5

Lol, this has to be a trick question. You can't buy "foreign" oil domestically right?
But to answer your question its because USA produces almost no oil on its own. + Bush can get rich raising oil prices this way. (Yes lets all blame OPEC!)

Answer 6

did you comprehend no matter if she is ideal or no longer? in case you extremely prefer to draw close my opinion then allow me wreck down the data with some Mthematics. US makes use of worlds 25% of modern-day production. and how a lot is be certain generating from its reserves? international has round 70yrs of Oil reserves. So US has 2.a million yrs of entire international intake.So US has round 8.4 yrs of its intake. upload to it the organic gas reserves we've. we've round amother 25 yrs of power if explored. that provides us round 30 years to get rid of our oil habit. notwithstanding the problem is that the disaster has been politicised. the reason being that human beings dont have the braveness to stay as a lot because it. And each and every time a u . s . lives as a lot as its authorities to artwork for it, we get the most corrupt and incompetent authorities. See, in the journey that your question replaced into about american power independence, it replaced right into a authentic good debate yet it really is not any more effective about that notwithstanding that is truly a politican debate on your concepts. because you need to be a democrat, you need to be certain it from an perspective which links the problem to politicians from republican social gathering and in case you've been a republican you've gotten blamed democrats for no longer allowing us to drill. in actual shown reality that we do have sufficient reserves to assist us get out of it notwithstanding the reserves in itself are not any more sufficient answer of power.

Answer 7

Because the American Oil companies are doing their best to discourage the research and use of alternitive fuels for vehicles. After all, their executives need their $500 million bonuses and a way to justify them. It's just wrong of us, the little people, to make them suffer like that.

Answer 8

We get only 10% of what we use from our own country. The rest has to come from somewhere.

Answer 9

To control the world in the future!!!