The U.S. will NEVER be energy independent

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dan_s
Posts: 34678
Joined: Fri Apr 23, 2010 8:22 am

The U.S. will NEVER be energy independent

Post by dan_s »

Just another "dream" coming from Washington, like Obamacare will make your healthcare costs go down.

The United States consumed 18.6 million barrels per day (MMbd) of petroleum products during 2012, making us the world's largest petroleum consumer. The United States was third in crude oil production at 6.5 MMbd. Crude oil alone, however, 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 4.8 MMbd in 2012.

The United States imported 11.0 MMbd of crude oil and refined petroleum products in 2012. We also exported 3.2 MMbd of crude oil and petroleum products, so our net imports (imports minus exports) equaled 7.4 MMbd.

Today Texas produces about 2.4 MMbd. Do any of you think we are going to find three more Texas size producing areas?

In 2012, the United States imported 2.1 MMbd of petroleum products such as gasoline, diesel fuel, heating oil, jet fuel, and other products while exporting 3.1 MMbd of products, making the United States a net exporter of petroleum products.
Dan Steffens
Energy Prospectus Group
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