WHERE OUR OIL REALLY COMES FROM....

The Parade Magazine Intelligence Report | 7-14-0220 | Lyric Wallworth Winik

[Sen Jack S. Fogbound]

Where Our Oil Really Comes From

If you think the Mideast is our main source of imported oil, think again.

In 2001, nearly 50% came from Canada, Mexico, and Venezuela; and 18 % came from Angola, Braitain, Nigeria, and Norway.

Still, our No. 1 single source was Saudi Arabia, at 18%, and 8% came from Iraq.

[Sen Jack S. Fogbound]

It could be the concern with Saudi Arabia (as far as oil goes) is with the World's economy. That would affect us tremendously. As for Iraq, who needs them? Russia is coming on stream with their oil!

[cactusSharp]

oh but to read those details with the USA and Russia
via pootie poot and the Caspien Sea. That 18% is
now available . And the dagger in the heart of the
Euro. Kyoto could not , the " Third Way " will not
as well.

[A Ruckus of Dogs]

I;ve also read that the oil from the Mideast is very very pure, thus eliminating a lot of refining costs with oil from other sources.

[Aaron_A]

Wait a few years; once the Alberta tar sands are fully developed we can say goodbye to the Saudis. Now start being nicer to the Canucks :)

[Free the USA]

Index Bump

[Lokibob]

Tesoro gas is the only producer I know that uses only U.S. (read Alaska) and Canadian crude.

The Hawaii refinery uses mostly Alaskan crude with some crude coming from Australia and Far East sources.

Unfortunately, they market only in the west.

[Eric in the Ozarks]

But their bottoms products move all over via rail cars.

[marron]

Still, our No. 1 single source was Saudi Arabia,

Not a problem. They are hurting financially. They have to sell to someone. And since the market is global, it doesn't matter who they sell to.

Iraq's oil is coming back on stream in the next year or so. Their share has been steadily increasing, even with sanctions, and with the coming regime change in Baghdad, they will be brought back up to full production very quickly. They, and Central Asian oil, will be the final nail in OPEC's coffin. That is one reason among several why the Saudis favor sanctions and oppose a definitive solution in Iraq.

[Sen Jack S. Fogbound]

"Iraq's oil is coming back on stream in the next year or so. Their share has been steadily increasing, even with sanctions, and with the coming regime change in Baghdad, they will be brought back up to full production very quickly. They, and Central Asian oil, will be the final nail in OPEC's coffin. That is one reason among several why the Saudis favor sanctions and oppose a definitive solution in Iraq."

You make very good points here. With the regime change in Iraq, their oil output could increase significantly.

As for Saudis, I wish we could cut them off. They have been financing the terrorists and setting up Mosques in our country to teach hatred for Christianity and the like.

[Timesink]

Not that I doubt the numbers, but I gotta admit that "Parade Magazine" and "Intelligence Report" seem like mutually exclusive terms to me. ;)