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Diane Publishing Books
U.S. Oil Imports and Exports
Neelesh Nerurkar (au)
Over the last six years, net oil imports have fallen by 33% to average 8.4 million barrels per day (Mb/d) in 2011. This represents 45% of domestic consumption, down from 60% in 2005. Oil is a critical resource for the U.S. economy, but despite policy makersäó» longstanding concern, U.S. oil imports had generally increased for decades until peaking in 2005. Since then, the economic downturn and higher oil prices were a drag on oil consumption, while price-driven private investment and policy helped increase domestic supply of oil and oil alternatives. Net imports are gross imports minus exports. The decline in net imports has manifested itself as a decrease in gross imports and an increase in exports of petroleum products. Contents of this report: Introduction; U.S. Oil Imports and Exports; Oil, the Trade Balance, and U.S. Economy; Policy Considerations: Oil Import Policies; Policies to Reduce the Need for Imports: Issues and Examples; Export Restrictions on Crude Oil and Petroleum Products; The Keystone XL Pipeline and Oil Trade; Strategic Petroleum Reserve. Figures and tables. This is a print on demand report.
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