Where does America’s oil come from?
According to a recent poll, most Americans think the majority of the oil imported to their country comes from the Middle East.
Yet when taking into consideration all the countries that export oil to the country, it’s clear that most of the oil comes from North and South America.
Canada is the top exporter of oil to the US. In just the past six months, the nation has imported approximately 12.3 billion gallons of gasoline from their northern neighbour.
What most Americans are not aware of is that a whopping 60% of the oil they consume is produced within their own country.
The only time the US imported more oil than it produced was between 1997 and 2010. Currently, the country is well on its way to eliminating dependency on other countries for oil.
Have you read?
What is happening in the global oil market?
Oil price drop: four winners and four losers
Is US petroleum consumption declining?
Authors: This blog was originally written by Randal Olson, and has been updated by José Santiago, Senior Associate, Public Engagement, World Economic Forum
Image: The Irving Oil refinery is photographed at sunset on in Saint John, New Brunswick REUTERS/Devaan Ingraham
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