The US relies on petroleum products for 40% of its energy needs, with 40% coming from domestic oil fields and the rest from foreign sources. Major contributors include Canada, Saudi Arabia, and Nigeria. The diversity of oil supplies makes it difficult to shut down the country’s oil supply altogether, but concerns remain about the security of the supply due to economic and political instability in some contributing countries. The US is allocating funds to the development of energy alternatives.
The United States (US) oil supply is a frequent topic of discussion in the United States, due to growing concerns about dependence on oil as a fuel source. According to the US Department of Energy, 40% of US energy needs are met by petroleum products. Many citizens are concerned about the impact of oil on the environment and would like to see the country move towards more sustainable sources of oil. Additionally, there is great controversy over the sources of American oil and the political maneuvering required to meet American demands for oil.
About 40% of America’s oil comes from domestic oil fields in states like Texas, Alaska and California. Some of this oil is actually sold to other countries, such as Japan. The other 60% of the US oil supply comes from foreign sources. Contrary to popular belief, however, the United States has very different oil interests around the world and receives oil and petroleum products from nearly every continent on Earth. This diversity within the petroleum supply allows for the production of a wide range of petroleum products, using crude oil of various chemical compositions.
Canada, Saudi Arabia, Colombia, Nigeria, Angola and Iraq are major contributors to the US oil supply. America also imports oil from Kuwait, Norway, the United Kingdom, Venezuela, Equatorial Guinea and Algeria. Several other countries ship refined petroleum products to the United States to supplement the production of American refineries. The diversity of oil supplies makes it difficult to shut down the country’s oil supply altogether, although kinks in the supply chain could be problematic.
A large part of the US oil supply comes from member countries of the Organization of the Petroleum Exporting Countries (OPEC). OPEC member countries should work together to ensure stable oil prices by safeguarding oil reserves and ensuring that countries around the world have access to oil when they need it. However, the United States’ oil supply is not limited to OPEC sources, and the country regularly imports oil from non-member countries, such as Canada, at varying prices.
While the sources for US oil are myriad, many of the countries that contribute the majority of the US oil supply are economically and politically unstable. This has led to concerns about the security of the US oil supply, as a major political disturbance could be devastating. For this reason, the United States also maintains an oil reserve for emergency situations and is allocating funds to the development of energy alternatives.
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