[something_awfull]

By 2010 Australia will have to import 60% of its oil needs, what is the American trend in this regard?

thanks.

[kpeavey]

Without looking it up, I believe it is in the 60-70% range.
With such dependency, the oil supply and its continued flow is critical to the operation of the economy. To understand the effects of a loss of that supply, I would refer you to the oil embargo of 1973.

[pup55]

At the moment, we are importing 10 million barrels per day. Our total refinery inputs last week were 15 million or so. We also import about 1.5 million barrels per day of finished products, and also have some oil use that does not go into refineries.

In total, we use about 20.5 million barrels per day.

Our domestic production is a little more than 5 million barrels per day, and is gradually declining. So, we import about 75% of our oil.

If our demand grows at all, every bit of the growth will have to be imported, plus, the domestic supply is decreasing by about 4% per year, so we have to import more oil every year to replace that too.

BP Review

[MD]

$this->bbcode_second_pass_quote('pup55', '.')..we import about 75% of our oil.

If our demand grows at all, every bit of the growth will have to be imported, plus, the domestic supply is decreasing by about 4% per year, so we have to import more oil every year to replace that too.