Wednesday, March 2, 2016

I Thought The US Was Energy-Independent -- March 2, 2016

Tweeting now: Exxon Mobil CEO Rex Tillerson: "I don’t think we can look to the market's demand side to solve this quickly for us."

Tweeting now: Russia's energy minister says countries producing 73% of world’s oil have agreed to tentative production freeze deal.

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I thought the US imported about 5 million bopd, maybe a max of 6 million bopd. This graph shows crude oil imports of over 8,000,000 bopd which is, like 8 million bopd. I think I have seen most media outlets say the US imports 5 million bopd; this suggests otherwise. This graph doesn't even show a number solidly below 6.5 million bbls.

The average looks like about 7.5 million bbls. More interesting, the trend is .... UP.

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