Following the oil trail

Tue, 07/29/2008 - 11:48am
Washington Post

Some good stuff in this graphic from Monday's Washington Post:

First, despite repeated calls to wean America off Middle Eastern oil, the United States actually imports most of its foreign oil from our friendly neighbors to the north and south. Also, while we hear countless warnings of China's impending rise and the impact growing Chinese demand will have on oil markets, the U.S. still imported nearly four times more oil than China in 2007.

Finally, it's interesting to note that even if the Iraq war really was all about oil, it's still failed its objective. Iraqi oil exports to the United States in 2007 were barely more than pre-war numbers in 2002, and less than those in 2000 and 2001. Iraq actually exports most of its oil to Asia.

Two countries that have fallen off the top-10 since 2002? The UK and Norway.

Patrick Fitzgerald | Permalink | | Comments? Login or register
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Numbers don't add up

by teodoro on Mon, 09/08/2008 - 10:38am

I guess it's A LOT MORE than 4.91 billion barrels
The top four (Canada, Saudia Arabia, Mexico, Venezuela) all add up to 5.52 Billion.

Numbers Do Add Up

by Preeti Aroon on Mon, 09/08/2008 - 12:15pm

The 4.91 billion barrels is for all of 2007. The top four countries as of May 2008 (Canada, Saudi Arabia, Mexico, and Venezuela) add up to 5.57 MILLION barrels PER DAY, or 2.03 BILLION barrels annually if that daily rate is maintained for 365 days. The top 10 countries add up to 8.48 million barrels per day, or 3.1 billion annually, still far less than 4.91 billion for all of 2007.

If I've goofed the math somehow, please let me know.