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Thursday, August 18, 2011

Well, This Should Put Fear of Allah into Syrians ... President Obama Signs Executive Order Barring US From Importing Syrian Oil

Link here
Most of Syria’s oil is used domestically, but it exports 150,000 b/d, 95% of which goes to Europe, primarily to Italy, the Netherlands, France, and Germany.
The article does not say how much Syrian oil is brought into the US. And I bet none of the mainstream reporters asks.

For comparison, the North Dakota Bakken is producing about 350,000 bbls/day.

The same day the announcement is made about the executive order, the price of WTI oil drops $4.00.

Perhaps for the consumer, the President needs to sign another executive order barring the importation of oil from the Gaza Strip.