Wednesday, July 18, 2012

How dependent is U.S. on foreign oil?

The United States relied on net imports (imports minus exports) for about 45% of the petroleum (crude oil and petroleum products) that we consumed in 2011. Just over half of these imports came from the Western Hemisphere. Our dependence on foreign petroleum has declined since peaking in 2005. 

U.S. imports domestic petroleum shares demand

The United States consumed 18.8 million barrels per day (MMbd) of petroleum products during 2011, making us the world's largest petroleum consumer. The United States was third in crude oil production at 5.7 MMbd. But crude oil alone does not constitute all U.S. petroleum supplies. Significant gains occur, because crude oil expands in the refining process, liquid fuel is captured in the processing of natural gas, and we have other sources of liquid fuel, including biofuels. These additional supplies totaled 4.6 MMbd in 2011.

The United States imported 11.4 MMbd of crude oil and refined petroleum products in 2011. We also exported 2.9 MMbd of crude oil and petroleum products, so our net imports (imports minus exports) equaled 8.4 MMbd.

sources of U.S. NEt Petroleum Imports 2011

In 2011, the United States imported 2.4 MMbd of petroleum products such as gasoline, diesel fuel, heating oil, jet fuel, and other products while exporting 2.9 MMbd of products, making the United States a net exporter of petroleum products.
Over Half of U.S. Petroleum Imports Come from the Western Hemisphere

Some may be surprised to learn that 52% of U.S. crude oil and petroleum products imports came from the Western Hemisphere (North, South, and Central America, and the Caribbean including U.S. territories) during 2011. About 22% of our imports of crude oil and petroleum products came from the Persian Gulf countries of Bahrain, Iraq, Kuwait, Qatar, Saudi Arabia, and United Arab Emirates. Our largest sources of net crude oil and petroleum product imports were Canada and Saudi Arabia.

U.S. net petroleum imports 1949 2011

Top Sources of Net Crude Oil and Petroleum Product Imports:
  • Canada (29%)
  • Saudi Arabia (14%)
  • Venezuela (11%)
  • Nigeria (10%)
  • Mexico (8%)

It is usually impossible to tell whether the petroleum products you use came from domestic or imported sources of oil once they are refined.
Reliance on Petroleum Imports has Declined

U.S. dependence on imported oil has declined since peaking in 2005. This trend is the result of a variety of factors including a decline in consumption and shifts in supply patterns.1 The economic downturn after the financial crisis of 2008, improvements in efficiency, changes in consumer behavior and patterns of economic growth, all contributed to the decline in petroleum consumption. At the same time, increased use of domestic biofuels (ethanol and biodiesel), and strong gains in domestic production of crude oil and natural gas plant liquids expanded domestic supplies and reduced the need for imports.

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