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February 16, 2007

Who supplies our oil?

The United States imports 60 percent of the oil it uses. N.C. State University economist Mike Walden tells where we get the rest.

"First we should say that the U.S. is still a major producer of our own oil. In fact, we pump more oil than any other country in the western hemisphere," says Dr. Walden, a professor of agricultural and resource economics. "We also pump more oil than countries like Iraq, Kuwait and Nigeria.

"The two leading suppliers of our oil, or oil imports, are Canada and Mexico. Next in line are Venezuela, Nigeria, Algeria and then Iraq," he adds. "Now in terms of total world supply -– to all countries -- Saudia Arabia is still the top world supplier, followed by Russia and then, again perhaps surprisingly, the U.S.

"So the U.S. is still right now the third-leading oil producer in the world."

Posted by deeshore at February 16, 2007 08:10 AM