Why doesn't the government want you to know this about Oil ?

Discussion in 'Economics' started by Joab, Apr 19, 2008.

  1. Joab


    I was actually shocked to see Canada has taken over as number 1.

    I say screw the middle east oil and BUY all of the stuff from us.

    shiek Joab :D

    Seriously it seems very possible from what I know of the oils sands, Suncor is there in a big way.

    The other question I have is WHY is this fact not more widely known ?

    Why does the US government want you to think that middle east oil is sooooo important.?

    Crude Oil Imports (Top 15 Countries)
    (Thousand Barrels per Day)
    Country Feb-08 Jan-08 YTD 2008 Feb-07 YTD 2007
    CANADA 1,888 1,944 1,917 1,840 1,848
    SAUDI ARABIA 1,614 1,479 1,544 1,185 1,382
    MEXICO 1,231 1,198 1,214 1,358 1,398
    NIGERIA 982 1,163 1,075 1,061 1,085
    VENEZUELA 927 1,135 1,034 1,115 1,031
    IRAQ 780 543 658 325 433
    ANGOLA 341 566 458 451 504
    KUWAIT 261 239 249 158 165
    COLOMBIA 220 171 194 73 106
    ECUADOR 169 247 209 178 226
    BRAZIL 169 169 169 103 156
    ALGERIA 149 366 261 392 474
  2. Over 70% of our oil and Nat. Gas reserves are shipped directly to the US. There was a contract signed years ago that restricted us from exporting our reserves elsewhere.

    Friend of mine in Calgary, Alberta runs a pipeline service company, and told me about this a while ago. Pretty crazy stuff!
    (The Oil Sands are only a few hours drive from me)
  3. Joab


    $1.20 per liter here in T.O. today and they are predicting $1.50 by summer.
  4. That is a misstatement; Unless; North American has extra supply which Canada can still ship overseas. Canada was not forbidden to sell overseas; but have to put North American on higher priority.
  5. Canada didn't just recently become the top crude oil exporter to the U.S. It's been like this way for years . . . And if you look at TOTAL EXPORTS of Petroleum to the United States, Canada is so far ahead of Saudi Arabia that it isn't even close.

    This is nothing new.
  6. That's because of the logistics. They can dump crude and gas directly from the fields into pipelines serving the US.

  7. Yes; If you live in Vancouver; you know when Asians ship their goods here; guess what Canadian ship back; All these ships don't go empty back to Asian. Most of them loaded with timbers; coal; and oil; That is right OIL.

    There was a pipeline project to Prince Rupert (i think it is on hold now); where can be built with a better shipping port than Vancouver.
  8. I think that we ship Alaskan Oil to Japan because its easier then shipping it down to the lower 48. We replace that with Oil from Canada and Mexico.

  9. Yes, that is true, but I heard a certain % has to go to the US if they need it. If there is more leftover, we are free to ship it wherever.

    EDIT: Oh, and I'm waiting for Canada to be on the US's terrorist list so they can invade.
    #10     Apr 19, 2008