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Production of crude oil from United States reserves has been
in decline by an annual average of nearly 2.4% since 1985. Production
of 273 million barrels in 1985 has since been reduced to 150
million barrels in 2008 - this has been a reduction of nearly
45% in the past 24 years.
- In the first quarter of 2007, oil drilling
reached a 21 year high in the US. And,
yet, overall domestic production continues to decline.
- U.S. consumes approximately 20,500,000 barrels
per day of Crude Oil & Petroleum Products.
- US Crude oil production is 5,064 barrel per
day.
- US Crude oil imports are 10,031,000 barrels
per day.
- The US imports 58.2% of its total oil consumption.
- The top two importers of oil to the US are
Canada and Mexico.
- The US gets 60% of it imports from OPEC countries.
- The proven reserves of Crude Oil in the US
are 20,972 million barrels.
Importing the majority of needed crude oil into the United
States has, for quite some time, been the reality. However,
each year that percentage of imports increases by over 4.7%.
In 1985, the United States imported nearly 117 million barrels
of crude oil, by 2008 that number has increased to over 3.5
billion barrels. Overall, the United States has increased their
dependency on foreign crude oil by more than 206% in the past
two and a half decades.
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