quote:Originally posted by steve8:quote:Originally posted by ThistlinTom:
I believe that the US is producing 10 MM bbls a day and importing only 2.5 MM bbls a day and overall is a net exporter of energy.
Your production number is correct, just recently surpassed the 10 MM bbls per day, but the imports are 8 MM bbls/day. That is the average of the past 4 weeks, which is down about 4% from the same period last year.
You guys need lots of heavy crude, but produce little. Enter Canada, Venezuela and Mexico.
Exactly. The Americas make alot more oil than generally given credit for. Oil prices may have been trading up but what's the possible upsidenin putting money in oil? I don't see oil going back to the 100+/barrel range anytime soon esp w markets coming down.