Quote:
Originally Posted by catswiththum
The oil rationale is incorrect.
We currently import more oil from Canada than all of OPEC combined and we are importing less as domestic production continues to increase.
We never imported but a minuscule amount from Iraq and still get next to nothing from there.
https://www.eia.gov/dnav/pet/pet_mov...im0_mbbl_m.htm
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It's not incorrect at all.
First, the situation you describe is a snapshot of the present state of the oil market. Second, it's a snapshot of the present state of the
US market. The world market is quite different and, in any event, the overwhelming majority of proven reserves of readily accessible petroleum are still in the Middle East.
The international response to the situation in the Middle East is motivated completely by concerns over access to the region's oil reserves. If this were not so, we would be equally involved combating terrorists in Kenya, Nigeria and the Magreb.