Did you know?

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17 Comments

Did you know that the US exports about 5-6 times more oil to other countries than it imports from the Middle East? So, if we got no oil from the Middle East, the average citizen wouldn't even be impacted, we'd just reduce our exports slightly. And that since late 2013, the US has exported nearly as much oil as it imports? We are essentially oil independent, without even taking conservation strategies. Not to mention we're sitting on one of the biggest natural gas reserves on Earth.

So much for the argument that we fight in the Middle East over oil.

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42% Normal
Based on 12 votes (5 yes)
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Comments ( 17 )
  • VinnyB
    8 years ago

    There is a lot wrong with your statement. First it is not anywhere near 5 - 6 times, it is a lot closer to even, meaning we are exporting about the same amount we are importing. For the past 2 years the export side has been slightly higher, but this is a new revelation and again the numbers are close. 5 to 6 times would not be possible under federal laws that restrict the amount of crude we can export.

    Second, there are different types of crude, and what we are exporting and importing is not always the same thing.

    Third, your numbers do not account for refined petroleum product that is imported and exported that is not counted as crude.

    But the most important fact is why that has been possible for the past 2 years. The massive increase in domestic supply has been, in large part, to fracking. Fracking is much more expensive than traditional drilling, and so in order to frack, the price of oil must be high, to make it worth it.

    The massive amount of instability that our wars in the middle east have created has caused an enormous surge in oil prices. This is what is driving the fracking industry. In fact, with recent drops in the price of oil, you may have heard that may fracking companies are suffering, or going under.

    So the wars in the middle east have actually played a huge part in the increase in domestic supply.

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    • seekelp
      8 years ago

      Beat me to it. The fracking boom is over, and the whole US industry will collapse unless oil prices start spiking.

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    • Anonymous Post Author
      8 years ago

      Yeah, I'm aware of that. Just saying we could be independent if need be. We import a lot of oil in order to keep our refining capacity busy and we make a profit on the processed product we then export.

      There has been instability in the Middle East for centuries before the U.S. got involved there. And besides that, most of the oil we import from the Middle East is from Saudi Arabia, who is stable and a US ally.

      Another strategy we're employing is to import oil to slow the depletion of our own reserves.

      It was the process of ramping up our own drilling/fracking capacity that was a big cause of the decrease in gas prices.

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      • VinnyB
        8 years ago

        I think the idea that we could be independent is very much debatable, especially if you mean via oil. We are importing 2 times what we are exporting, and there would be a short fall without foreign oil. If you tapped into every possible source of US crude maybe.

        But even if you put aside the serious environmental concerns that go along with that, as we discussed that requires fracking and fracking is expensive. Because of the expense, OPEC has the ability to keep supply high and price us out of the market, potentially taking those sources out of the market, which is exactly what we are seeing at the moment.

        The only way the US is going to be energy independent is through the development renewable energy.

        In regard to the middle east, if you want to go back centuries, you could say there is instability pretty much all over the world. But if you are talking about recent times, I do not see how anyone could argue that military action and instability in the middle east has had a serious impact on the price of oil in the last 10 - 15 years.

        Obviously increased world supply as the result of fracking has had an impact on recent decreasing oil prices. But that just makes the argument against it. If producing enough oil from fracking to eliminate exports causes the price of oil to drop below a price at which fracking is sustainable, than that just proves it is not a long term solution.

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    • Anonymous Post Author
      8 years ago

      It is 5-6 times what we import from the Middle East. Only about 15% of our oil imports come from the Middle East. Do the math. If our exports roughly equal imports, then 15% is a fifth or sixth of the total.

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      • VinnyB
        8 years ago

        You are comparing the percentage of 2 different things. here are the actual number as per the Dept of Energy...

        In 2014 the US imported 9.22 millions barrels per day (bpd) and exported 4.17 million bpd. So while exports did slightly surpass imports in 2013, it looks like that trend has ended. In fact we imported more than we exported at a rate of about 2 to 1.

        If you are talking about our imports ONLY from the middle east, in comparison to our exports world wide, that would be 4.17 bpd export, and 2.01 bpd import. So that would be about 2 - 1 ratio export it import. So, no where near 5 or 6 to one. And again, that has to do in part with the type of crude we are importing vs. exporting. IF you would like to review the numbers you can do so here...

        http://www.eia.gov/tools/faqs/faq.cfm?id=727&t=6

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  • Myghoul2099
    8 years ago

    the more the merrier.

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  • Arm0se
    8 years ago

    Can't we use something other than oil? \(._.)/

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  • thegypsysailor
    8 years ago

    Except for one little teeny weeny fact, oh great wise one. Our oil reserves are finite. By importing oil from other sources we extend the life of our reserves.
    You may hate all those dummies in congress, but they really aren't as stupid as we'd all like to believe.

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  • JD777
    8 years ago

    Technically, you're correct that the U.S. doesn't depend on Middle Eastern oil since we import the majority of our oil from Canada and Mexico and produce our own. But your numbers, while correct in total, mix crude with processed. We import oil from Saudi Arabia, where the bulk of our Middle East oil comes from, because they are a strategic ally in the region and good trading partner.

    The recent Middle East wars, Iraq and Afganistan weren't over oil, but terrorism. We obliterated Iraq because they supported the 9/11 terrorist attack and we thought they may be ready to launch wars with WMDs. Maybe the latter was just an excuse to get revenge for 9/11. We invaded Afganistan because the terrorist cells regrouped there.

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  • howaminotmyself
    8 years ago

    Economic isn't your strong suit, is it? Nor is politics.

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    • Anonymous Post Author
      8 years ago

      I do understand the economics and politics. I'm just saying if push came to shove, the U.S. doesn't need Middle Eastern oil.

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      • howaminotmyself
        8 years ago

        But that's the problem, it is all push and shove. You can't remove the oil from the game. It is a piece of the puzzle.

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  • dinz
    8 years ago

    Countries can also export oil as a mechanism to increase available oil on the market thus lower prices. It is also and more often restricted supplies to the market rising oil prices.

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  • pixie44
    8 years ago

    I think most countries (Not all) Can manage on their own supplies. I thought trading was just a way to kind of be on good terms with other countries and to help each other make more money?

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  • Redcoats
    8 years ago

    Kinda sounds like my country, who sell gas to the Chinese then buys it back for three times the price.

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    • RoseIsabella
      8 years ago

      Who's that? I mean I thought I knew, but I dunno, I'm not sure.
      :-/

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