Tuesday, January 09, 2007

An Oily Mystery

Checking out the handy stat sheet on U.S. oil production and consumption the Energy Information Administration puts out, I came upon a bit of a mystery:

U.S. crude oil production - 5,178,000 barrels/day
U.S. petroleum consumption - 20,802,000 barrels/day

Dependence on net petroleum imports - 60.3%


5,178,000/20,802,000 = about 25% or about a 75% dependence on imported oil.

The answer probably lies in the fact that petroleum doesn't exactly equal crude oil.

"Petroleum products" can be made with imputs besides crude oil and you can get more than a barrel of petroleum from a barrel of crude oil.

The raw data shows America is well past its peak oil production.

And imports of crude oil and petroleum products continue to grow at a steady pace.


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