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The US buys 90% of it's oil domestically. Canada is the US largest trading partner for oil imports. Only 3 countries in the Middle East made the top 10 list of US oil trade deficit. US gas consumption will continue to rise in the long run equalibrium. In the short run of 2008 US gas consumption will be lower due to a war driven resession. Inflation will create a larger short run money supply and eventually create lower unemployment in the long run.
What else can I help you with?
Where does valero oil company get its crude oil from?
The United States and Mexico.
Why crude oil prices falling?
Crude oil prices are falling because of oil shale drilling in the United States.
What was the price of crude oil in the United States in 2000?
The average price for a barrel of crude oil in 2000 was: $26.72
Does france export oil to the united states?
France exports crude oil to the United States as well as some textiles.
Where does greece export oil to?
Greece exports crude oil to China, United Kingdom and the United States of America.
Who are the main consumers of crude oil?
The United States leads the way in oil consumption as of now.
What country supplies most of us crude oil?
The US is the country that supplies the greatest amount of the oil consumed by the US. Canada is the second largest supplier of oil to the US.
How much crude oil does the United States import?
700 million barelles a year
What are the five top crude-oil producing countries?
The top five crude oil producing countries are the United States, Saudi Arabia, Russia, Canada, and China. These countries account for a significant portion of global crude oil production.
Who does Canada export oil to?
Canada and the United States share the longest unguarded border in the world. Canada is rich in crude oil and other petroleum products. Most of these are exported to the United States.
If a barrel of oil in 42 gallons how many barrels of oil is in a year?
The United States produces about 4.95 million barrels of crude oil daily. This is the equivalent of about 75.9 billion gallons (75,883,500,000) of crude oil per year.
Is NYMEX the same as WTI crude oil?
No, NYMEX (New York Mercantile Exchange) is a commodity futures exchange where various energy products, including WTI (West Texas Intermediate) crude oil, are traded. WTI crude oil refers specifically to the grade of crude oil that is used as a benchmark for oil prices in the United States.
