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Politics : Rat's Nest - Chronicles of Collapse -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (10969)	7/16/2010 1:55:48 PM
From: Wharf Rat	Read Replies (1) \| Respond to of 24237

US Oil Imports: Why it is Difficult to "Fix" the Situation - Looking at a Few Graphs Posted by Gail the Actuary on July 16, 2010 - 9:25am 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.) theoildrum.com