America's Oil Imports

[SubJunk]

First of all, here's some world figures.

 

The following is a list of the top 10 oil producing countries:

1. Saudi Arabia 7.7 million barrels/day

2. Former Soviet Union 7.1 million barrels/day

3. USA 5.9 million barrels/day

4. Iran 3.6 million barrels/day

5. China 3.2 million barrels/day

6. Norway 3.0 million barrels/day

7. Mexico 3.0 million barrels/day

8. Venezuela 2.8 million barrels/day

9. United Kingdom 2.7 million barrels/day

10. Iraq 2.5 million barrels/day

 

The following are the top 5 biggest oil fields in the world:

1. Ghawar, Saudi Arabia 75-83 billion barrels

2. Burgan, Kuwait 66-72 billion barrels

3. Bolivar Coastal, Venezuela 30-32 billion barrels

4. Safaniya-Khafji, Saudi Arabia/Neutral Zone 30 billion barrels

5. Rumaila, Iraq 20 billion barrels

 

Now for some juicy statistics on how America is using this oil, in particular Iraq's oil:

In 1990, imports from Iraq accounted for about 6.4% of our imports.

From 1991 to 1996, due to sanctions, Iraq provided no exports to the US. In 1999 (average 6.7%), 2000 (5.4%), 2001 (6.7%), and 2002 (3.9%)

In 2003, Iraq accounted for 470,000 Barrels per day (4% of the total U.S. imports)

The US total imports were 12,254,000 Barrels per day that year.

Canada was by far the biggest contributer at 17%, Saudia Arabia at 14.5%, Mexico at 13%, Venezuela at 11%

[atinymonkey]

Laughably, although the UK is the 9th largest producer of oil we also import almost all our domestic oil. We have some of the highest petrol prices in the world :-/

 

At least we will still be producing oil in 2025, when the rest of the reserves are predicated to be exhausted.

[Tetrahedrite]

Same in Australia, we are net exporters of oil and gas and we still pay ridiculous prices at the pump!

[SubJunk]

that 2025 prediction is based on the assumption that hybrid/electric cars won't catch on by then. I know of a lot of people looking forward to the release of the '05 Accord Hybrid, and with the Bush administration supporting these developments the technology is growing fast.

We can only hope that people have the foresight to go with these cars.

[bloodhound]

hybrid/electric car doesnt matter much now. if only americans started producing more fuel efficient cars at the moment.

[SubJunk]

but you have to remember that a business makes its profits when people buy their products. This seems simplistic, but if a car company decided "hey let's make more fuel efficient cars", the car would be less powerful, and therefore less people would want it. I'm not a qualified economist but have studied it enough to understand that the economic equilibrium (the thing which never exists but is what businesses constantly go for and try to predict) is a delicate thing. A hybrid car can deliver the same power but only use a fraction of the petrol.

Sure there are some people who go buy a car for its fuel efficiency even though it runs like crap, but most people, especially under 30s, want fast and powerful.

[Aardvark]

Laughably' date=' although the UK is the 9th largest producer of oil we also import almost all our domestic oil. We have some of the highest petrol prices in the world :-/

[/quote']

 

Laughably, the UK exports more oil than is imported resulting in a major contribution to the economy and the balance of payments.

[john5746]

hybrid/electric car doesnt matter much now. if only americans started producing more fuel efficient cars at the moment.

 

Gas is too cheap in the US, although it has risen recently. This makes it more affordable to buy gas guzzling SUV's, etc. Germany and Japan will lead the US towards fuel efficient cars.

[Aardvark]

Gas is too cheap in the US, although it has risen recently. This makes it more affordable to buy gas guzzling SUV's, etc. Germany and Japan will lead the US towards fuel efficient cars.

 

It always amuses me to see Americans on the news complaining about how expensive their 'gas' is. Talk about spoilt rotten.

 

Here's one person looking forward to an oil crisis with eager anticipation.

[bloodhound]

decided "hey let's make more fuel efficient cars", the car would be less powerful,

HAH, thats just pure BOLOXX

[atinymonkey]

that 2025 prediction is based on the assumption that hybrid/electric cars won't catch on by then. I know of a lot of people looking forward to the release of the '05 Accord Hybrid' date=' and with the Bush administration supporting these developments the technology is growing fast.

We can only hope that people have the foresight to go with these cars.[/quote']

They have no reason to catch on in the US, and Bush administration's support is pointless. The major developments are made outside the US, with or without the token support of Bush. Basically, no car producer thinks the US is going to be the largest market for hybrid cars, because of the low price of oil in the US. Most are aiming for the Asian markets, and doing quite well.

 

Laughably, the UK exports more oil than is imported resulting in a major contribution to the economy and the balance of payments.

The cost of the benifit is that the public pay for this process through VAT, making the export/import of oil a dual form of taxation. It's underhand, weasley and wrong.

[Aardvark]

The cost of the benifit is that the public pay for this process through VAT' date=' making the export/import of oil a dual form of taxation. It's underhand, weasley and wrong.[/quote']

 

Oil is imported into the UK because not all of the oil produced there is of the right grade for domestic consumption.

 

As for the taxation of oil. Yes, it is high, but that's what you get with a huge public sector that needs maintaining. It may be weasely,but it's what the voters demand from the government.

[SubJunk]

HAH, thats just pure BOLOXX

No it isn't

[SubJunk]

They have no reason to catch on in the US, and Bush administration's support is pointless. The major developments are made outside the US, with or without the token support of Bush. Basically, no car producer thinks the US is going to be the largest market for hybrid cars, because of the low price of oil in the US. Most are aiming for the Asian markets, and doing quite well.

I didn't say "token" support, I'm talking monetary support.

The major developments are made by asian companies you're right, but they're made by Americans usually because the production/schematic teams are in America. The new Honda Accord Hybrid for example was designed in America.

I don't know what makes you think they have no reason to catch on in the U.S. because they have every reason to catch on. Could you give reasons to support this claim?

[bloodhound]

No it isn't

I quoted your statement as i disagree with it in two ways.

 

First of all I disagree with the general American attitude that Bigger is Better. Theres also the issue of handling.

 

Second of all, Fuel-Efficient car doesnt mean less performance. European cars will generally outperform a similar sized American model, and also have a higher mileage.

[john5746]

Second of all' date=' Fuel-Efficient car doesnt mean less performance. European cars will generally outperform a similar sized American model, and also have a higher mileage.[/quote']

 

I think in general, fuel efficiency and engine performance is a give and take.

[Douglas]

Same in Australia, we are net exporters of oil and gas and we still pay ridiculous prices at the pump!

As far as I know, the price of light and heavy crude oil are set by the global markets. Why should your price be any higher than in the States??? I am currently paying about $1.85 per gallon for regular gasoline.

[Douglas]

Oil is imported into the UK because not all of the oil produced there is of the right grade for domestic consumption.

 

As for the taxation of oil. Yes' date=' it is high, but that's what you get with a huge public sector that needs maintaining. It may be weasely,but it's what the voters demand from the government.[/quote']

Aardvark, If the U.K. is the 9th largest oil producer, and if the U.K. has enough refining capacity, and if the refiners can produce the proper grade (for environmental reasons), seems like there's no need to import oil, that you produce enough for your own needs.

 

The U.S. on the other hand, does not produce enough for it's own needs, I believe we import about 60% of our oil.

We're hamstrung by the environmentalists, who do not want to drill for oil, and do not want refineries built.

[Tetrahedrite]

As far as I know, the price of light and heavy crude oil are set by the global markets. Why should your price be any higher than in the States??? I am currently paying about $1.85 per gallon for regular gasoline.

I payed $1.09/L this morning when I filled up. That equates to $US3.83/Gal at the current exchange rate, more than twice what you pay!!

[Skye]

As far as I know, the price of light and heavy crude oil are set by the global markets. Why should your price be any higher than in the States??? I am currently paying about $1.85 per gallon for regular gasoline.

Taxe$

[Sayonara]

Don't forget retail mark-up.

[Douglas]

Taxe$

Thanks Skye, I was waiting for someone to say that.

[Aardvark]

Aardvark' date=' If the U.K. is the 9th largest oil producer, and if the U.K. has enough refining capacity, and if the refiners can produce the proper grade (for environmental reasons), seems like there's no need to import oil, that you produce enough for your own needs.

[/quote']

 

 

It makes more economic sense to sell the grade of oil produced and buy the grade of oil needed, rather than expensively and wastefully refining the home produced oil. The UK makes quite a large profit on the transactions.

[atinymonkey]

I didn't say "token" support' date=' I'm talking monetary support.

The major developments are made by asian companies you're right, but they're made by Americans usually because the production/schematic teams are in America. The new Honda Accord Hybrid for example was designed in America.[/quote']

You misunderstand. The Honda Accord Hybrid consists of two elements:-

 

1) The Honda Accord, a car that has been in production since the 1980's and was developed in Japan.

2) The Honda Hybrid engine, an engine that is in it's third reincarnation and was developed by Honda during the 1990's and is in over 2000 cars in Paris alone.

 

All this 'made in America' tosh is simply sales material to encourage buyers. Honda have never issued a statement to say the hybrid engine was solely developed in/by the US, and in reality it's the Australian Government that has provided the highest level of funding into Honda research. The Hybrid engine has simply been shoehorned into an Accord and given to the marketing department to sell.

 

I don't know what makes you think they have no reason to catch on in the U.S. because they have every reason to catch on. Could you give reasons to support this claim?

 

Oil in the US = Cheap.

 

Oil in Europe and Asia = Expensive.

 

Cheap = keep buying it.

 

Expensive = look for something cheap.

[Sayonara]

I would have used -> in the last two