Skip to comments.US Oil Imports - Looking at a Few Graphs
Posted on 07/16/2010 9:00:50 AM PDT by profgoose
With all of our problems in the Gulf of Mexico, we think about importing more from elsewhere. Let's look at some graphs of net imports of crude oil and refined products, and of some US production amounts, to see what is happening now. Perhaps this will give us insight as to what to expect going forward, and how many options we really have with respect to oil imports.
Figure 1. US net imports of oil and oil products, using an EIA chart
As one can see, US net imports peaked in 2005, and have been declining ever since. The year 2005 was the year the world hit its production plateau. This is precisely the pattern one would expect, if world oil production is flat, while demand from oil exporters and China is growing.
(Net imports are imports minus exports. Imports tend to be mostly crude oil. Exports tend to be mostly refined products. Some of the exports go to the same countries as the imports were from--we just return some of the product after processing.)
Figure 2. US net imports of oil and oil products from Mexico, using an EIA chart
Part of the problem is of course that some of the countries we are importing oil from are declining in production, and can therefore send us less. Net oil imports from Mexico have declined by about half since reaching their peak.
Figure 3. US crude and condensate production, using an EIA chart
(Figures at site...)
(Excerpt) Read more at theoildrum.com ...
It's everywhere, the 'erf is chock full of it, always has been, always will be ("Up through the 'erf , came a bubblin' crude....
Refinery capacity is abundant, Sunoco just laid one idle near me, a big one, "can't get rid of the stuff, so close it down."
Industry desire is to import refined products so they can close all refinerys that need labor costing more than a sheckle or two.
They are jealous that they are the only industry that hasn't escaped to slave labor camps.