Who supplies the most oil to the US?

[AZN_ZX2]

http://media3.washingtonpost.com/wp-dyn/content/graphic/2008/07/26/GR2008072601572.gif

According to this...

[JonsZX2SR]

The bigger problem is the US is the largest importer at 12.2 million barrels per day well ahead of Japan (4.8) or China (3.7) If we don't have exprts to offset these imports (and we do NOT) it justfeeds the imbalance of trade and drags down the dollar.

[Griffin]

All I have to say is keep up the good work!





































Now buy some fucking wood.

[zxtwou2]

i knew we should have attacked canada instead of iraq. at least canada has beer.

[CraZx2ing]

But, then they'd burn down the white house.

[JonsZX2SR]

It's worse than people realize at first glance. Our imbalance of trade is paying for a significant portion of Japan's and China's oil imports.

How much of that money comes back to the US in trade. My guess is less than 1/3. So effectively we are exporting our wealth overseas.

In the past we had a thriving competitive economy to recovery most of that wealth. That isn't the case anymore since the Chinese, Japanese, Koreans, Europeans, Indians, etc. learned to compete in a global economy.

How long do you think the US can continue to export our wealth ?? I feel sorry for a lot of young people if this keeps up. Some trained Americans will be able to get jobs overseas, just as Chinese and Indians come here for work. However, I think the average American is screwed, unless we turn our economy around.

What is it going to take ???

[Griffin]

It's worse than people realize at first glance. Our imbalance of trade is paying for a significant portion of Japan's and China's oil imports.

How much of that money comes back to the US in trade. My guess is less than 1/3. So effectively we are exporting our wealth overseas.

In the past we had a thriving competitive economy to recovery most of that wealth. That isn't the case anymore since the Chinese, Japanese, Koreans, Europeans, Indians, etc. learned to compete in a global economy.

How long do you think the US can continue to export our wealth ?? I feel sorry fro a lot of young people if this keeps up. Some trained Americans will be able to get jobs overseas, just as Chinese and Indians come here for work. However, I think the average American is screwed, unless we turn our economy around.

What is it going to take ???

A war?

[JonsZX2SR]

Wrong answer... I think if the US went to war against the rest of the world a large amount of that imported oil would be shut off.

Then we would have two options a) figure out how to make homebrewed fuel from our own resources and beome stronger or b) fail.

i'd prefer that we end our dependence on foreign oil without a war, become competitive economically, pound the rest of the world's economies and bring that wealth home.

[AZN_ZX2]

I know the US has imported more than exported for quite awhile. Also it just keeps adding on to our increasing debt...

[zxtwou2]

Wrong answer... I think if the US went to war against the rest of the world a large amount of that imported oil would be shut off.

Then we would have two options a) figure out how to make homebrewed fuel from our own resources and beome stronger or b) fail.

i'd prefer that we end our dependence on foreign oil without a war, become competitive economically, pound the rest of the world's economies and bring that wealth home.

ya know...i honestly believe the reason fuel prices have backed down a bit recently is because Big Oil is realizing it's becoming more cost effective for people to explore alternative fuel options. they gotta keep us in that margin where it's still cost effective for us to use oil...yet take us for all they can.

[PHeller]

Where do we get the investment to sponsor research for alternative energies and fuels? The consumer and/or market, or does the goverment do it and tax us for it?

As much as I hate the inefficiency of the government, it seems that both the American Oil Consumer and the American Oil Supplier will continue to ignore the fact that we rely heavily on the rest of the world for our transportation needs. We've known for decades that oil was very important to our economy, and the crude that we do have is insignificant compared to that of the rest of the world has beneath their oceans and soils. Even Norway produces more oil than the USA.

Why instead of investing in more oil production, do we not invest into something the rest of the world may want to buy from us in 20 or 30 years?

What if suddenly the US became the leading producer of the Hydrogen, or just electric energy? I'm sure there are many countries that would buy our excess, only we're in a shortage of both.

[AZN_ZX2]

How do you export electric energy? Of course you can run lines across the atlantic ocean and pacific ocean, but it might be cheaper to just build a facility somewhere else. But then if they are paying for our energy, they could just pay for their own facility to be built.

[Sir William]

Alberta Oil Sands FTW!!!

[JonsZX2SR]

Here is something to think about.

12.2 million barrels per day is 4453 billion barrels per year. At a cost of $125 per barrel that works out to $557 billion per year.

The US military budget for 2008 is $554 billion.

If we imported a lot less oil we might be able to better equip our military and not waste lives and resources on defending foreign barbarians.

[LiveWire]

...Some trained Americans will be able to get jobs overseas, just as Chinese and Indians come here for work...

Two people I worked with have left in the last year for jobs in China. Their spouses also found jobs. Technical people fluent in Chinese and English are highly sought after.

[TheCrazyGuy]

Two people I worked with have left in the last year for jobs in China. Their spouses also found jobs. Technical people fluent in Chinese and English are highly sought after.

A Marine captain I work with is in precisely that position. He hits his eight year mark soon and likely will not be here more than a couple of months longer.

[JonsZX2SR]

There are plenty of global jobs for those who have developed experience and skills as part of their careers. The problem is that less than 10% of Americans or citizens or of other developed nations fall into this group. The message of challenging oneself, achievingand competeing on a global scale is lost on a majority of young people.

Half the problem is old jobs are disappearing, the other half is that a majority of people are not qualified for the new emerging good jobs.

The 10% or so American and foreign overachievers will qualify for wherever the good jobs occur. In the meanwhile, the rest of the 90% of workforces will suffer from global competition.

[zxtwou2]

Alberta Oil Sands FTW!!!

i agree...but only because we sell millions upon millions of dollars of tractors and off-highway dump trucks to them :D

[JonsZX2SR]

Current would oil production is 87m barrels per day. the US produces approximately 5.2m and imports 12.4m barrels per day. Due to high gasoline prices this dropped to 9.5m barrels per day in may 2008 (http://www.heraldtribune.com/article/20080623/OPINION/806230555/1030), demonstrating supply and demand is working.

Optimistically, off shore production could add 3m barrels per day (http://www.newsweek.com/id/142130) in 3-5 years, assuming all the hardware would be ready in time.

How does that supply all our energy needs ??

Oil sands and shale oil supply lower grade petroleum and they require different recovery and refining techniques. If conversion of coal to synthfuel became a reality, the technologies could also be applied to reforming oil sands and oil shale. The combined sources could supply a lot of our energy needs.

However, this is only going to happen if money is applied to oil recovery and reforming. If these get ignored in the rush to off shore oil as a quick solution we are going to continue to find ourselves dependent on foreign oil.

Assuming constant demand, that still leaves imports of 6.5m barrels per day which is more than either China and Japan import (and they have healthier balances of trade than the US.) Reduced consumption from car pooling and more fuel efficient vehicles could save another 2.5m barrels per day, dropping imports to 4m barrels per day.

At that point our balance of trade becomes manageable, assuming the damage isn't irreversible. Offshore drilling may help the problem but it isn't a stand alone situation. Conservation, other energy sources including renewables and coal conversion can help drive the importas down.

We need to think about how to reduce our dependency on foreign oil to zero and our balance of trade back in line so we can strengthen the dollar. The concern is that off shore drilling beomes a short term solution and we don't go after other parts of the problem (reduced consumption, alternate energy) we are going to find ourselves in this problem again and again. It happened in the 70's and 80's, we didn't learn and it's happened again.

[AZN_ZX2]

I am in favor of using our own oil, but we need to be careful to save some and never use it except in an emergency.

Just to illustrate my point I will make up a scenario. Lets say Iran gives us most of our oil. And we say fuck you Iran we're going to use our own. Then we run out and are forced to rely on Iran again. They say fuck you, we don't like you cuz you bombed us. Then they stop sending out oil. Uh oh where does our oil come from now?

Now if we use oil from Iran and save our own in reserves and Iran decides to be uncooperative, then we have something to fall back on to last us at least 5 years until we can fix our ties with Iran, or come up with another solution.