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some one said that most of the US petroleum oil comes from its own oil fields and mexio, and middle ease constitute less than 1 % of total US oil imports..., Is this true? also please tell me the resource where i can get hold of the actuall figures for the above matter...
Thanks

2007-11-13 03:52:53 · 8 answers · asked by manishkumar3414 2 in Social Science Economics

8 answers

Because of the high cost of transportation, very little of the oil that the United States imports actually comes from the Middle East.

Most of the imported oil in the United States comes from Mexico, Venezuela and other countries that are in close proximity to the United States and have much lower transportation costs.

2007-11-13 04:11:24 · answer #1 · answered by Anonymous · 1 0

First, we purely get a small % of our oil from the middle East. possibly 15%. Brazil is beginning up new reserves and we are in a position to continuously end the Democrat regulations on tapping our very own reserves and bring that oil regionally. this is Europe and China who could be maximum injury by making use of ME now no longer having oil.

2016-11-11 09:08:19 · answer #2 · answered by ? 4 · 0 0

I know that's not true, but I don't have time to find the numbers. The important thing to remember is that even though we might not get all of our oil from the middle east, the prices we pay for the oil are still tied to them because it is part of the overall global economy.

2007-11-13 03:56:21 · answer #3 · answered by czekoskwigel 5 · 0 0

US economy use an elevated rate of Middle East's oil. The interest in this zone is caused by the major reserve in oil are in the Middle East.
An strategic of business is to consolidate the presence in that areas were the inputs are abundant.
If US companies let its interest in Middle East, its profits surely will down and the future of US economy growth will be very dark.
You see the composition of basket of consumers and producers of oil in the webpage of OPEC and the webpage of International Agency of Energy.

2007-11-13 04:01:59 · answer #4 · answered by CSI - Economics 4 · 0 0

more than 80%..

The U.S. consumes far too much oil. The absence of any clear policy to reverse this trend is dangerous. Increased pollution and environmental damage alone require a new policy toward oil dependence. The specific costs of relying on large percentages of imported oil are also enormous, both economically and strategically.

The Gulf Cooperation Council states (Saudi Arabia, Kuwait, Oman, Qatar, the United Arab Emirates, Bahrain), Iran, and Iraq jointly possess 64% of the world’s proven oil reserves. The most important among Gulf states is Saudi Arabia, which alone controls 27% of the world’s oil supplies. Saudi Arabia’s light crude is particularly sought after in the market by U.S. industries for sophisticated uses such as production of airplane fuels. Furthermore, money generated from Saudi oil sales to the U.S. often translates into Saudi arms purchases from U.S. weapons dealers

2007-11-13 03:58:52 · answer #5 · answered by shango 2 · 0 2

Without doing the source research, I can say that what you heard is correct. Most of the oil that the USA uses comes from Mexico and from South America.

2007-11-13 03:58:03 · answer #6 · answered by Ron M 7 · 0 0

Like others have said that is not completely correct, but it is not entirely false. We produce a lot of our own oil, and most of the rest comes from Meso America.

2007-11-13 05:42:06 · answer #7 · answered by joe1max 4 · 0 0

12.2 million bbl/d imported during 2005 was 58% of its demand. That means that the US requires 21+ million bbl/d. Its top importers were Canada (1.6 mil. bbl/d), Mexico (1.6 mil. bbl/d), Saudi Arabia (1.5 mil. bbl/d), Venezuela (1.3 mil. bbl/d), and Nigeria (1.0 mil. bbl/d). We probably get Middle East subsidiaries to provide a little more oil but as a whole - we do not get much oil from the Middle East - most of that oil is produced for Asia. The U.S. would like to get their hands on it not because its citizens need it - but because the future world megaregion (China and India mainly) will need to secure a ton of oil to run their economies - the US would like to have that business.

2007-11-13 04:06:14 · answer #8 · answered by Justin E 1 · 0 1

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