Oil and Overproduction

David Schanoes dmsch at attglobal.net
Tue Jan 14 21:03:47 MST 2003

D OC wrote:

> One point which I was surprised no-one raised was the alleged ability of
> US to use all external supplies of oil up while conserving the bulk of
> on their own territory. Is this true? And if so, doesn't this material
> directly contradict the simplistic economism of the predominance of RoI
> longer-term strategic oil management.

I do not believe the US is ravaging all external supplies in order maintain
reserves in the "homeland."  It is a question  of cost, price, and profit.
US imports 60% of its daily requirements and the proportion of imports to
domestic oil in production and transportation has risen dramatically in the
past decade, two decades, based on the lower costs of production in:
Venezuela, Mexico, Canada, Saudi Arabia, Iraq, Nigeria, Angola -- the top
sources for US imports.

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