United States: Difference between revisions
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The USA remains by far the largest oil consumer with declining domestic production now meeting considerably less than 50% of consumption. With the U.S. oil production declining and the demand increasing, U.S. net oil imports are climbing steadily | The USA remains by far the largest oil consumer with declining domestic production now meeting considerably less than 50% of consumption. With the U.S. oil production declining and the demand increasing, U.S. net oil imports are climbing steadily | ||
[[Image:Crude_Oil_Prices.gif|thumb|Description]] | |||
Revision as of 02:07, 26 April 2006
Our Consumption
The U.S. petroleum industry's price has been heavily regulated through production or price controls throughout much of the twentieth century. In the post World War II era U.S. oil prices at the have averaged $20.94 per barrel. The price of a barrel now is ranging up around $70. It is unnerving that the United States is consuming more oil than ever at this price per barrel. Not only are we consuming more oil, but our production is the lowest it has ever been.
The USA remains by far the largest oil consumer with declining domestic production now meeting considerably less than 50% of consumption. With the U.S. oil production declining and the demand increasing, U.S. net oil imports are climbing steadily
