Re: Oil and Overproduction

["David Schanoes" <dmsch@xxxxxxxxxxxxx>]

D OC wrote:


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