Do you even know who your largest oil supplier is?

Just in reponse to many from my other questions. It seems most were very ignorant of the fact that America's largest oil supplier is CAnada... not Saudi Arabia or Mexico (although if you add both together, they would supply more than Canada to America). However... roughly 20% of your oil imports come from Canada.

Again.. just in response to ignorance in my other question.

http://voices.kansascity.com/node/1526

However.. now I have opened that can of worms.

Do very many Americans know much about the oil industry at all.. or better yet... where your oil even comes from?

And I will ask your to once again provide a source that isn't quite so biased.

Canada then Saudi Arabia then Venezuela then Mexico.

And I found a more reliable source than you.

http://minerals.usgs.gov/minerals/pubs/country/2001/samyb01.pdf

In 2001, exports of crude oil and products from Saudi Arabia

to the United States were reported to be about 1.66 million

barrels per day (Mbbl/d) compared with 1.57 Mbbl/d in 2000.

Saudi Arabia was the second leading source of total U.S. crude

oil and petroleum product imports, accounting for about 14% of

imports in 2001 compared with 17% in 2000. Canada was the

leading source of U.S. crude oil and petroleum products imports

in 2001 with an average of 1.83 Mbbl/d (15.4% of the total

import volume). Venezuela was third largest supplier with 1.55

Mbbl/d, and Mexico fourth with 1.44 Mbbl/d (U.S. Energy

Information Administration, 2002).

You're right, of course. However, oil is a commodity and the market sets the price. If corn is $19/bushel that's the price for Kansas corn, Iowa corn and French corn. So source doesn't matter as much as the market forces. The question to ask is what is causing the increase especially since there is no shortage.

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But Misty, you're not refuting my point, you're supporting it. There is something other than Smithian supply and demand going on here.

I think it is even broken down by region. For example, CA and western states get their oil from different sources than New York and eastern states. What exactly are you getting at?

Maybe we should quit fueling China and India's economy and start fueling our own.

Then they couldn't afford to drive and we could.

Yes, I was aware. The US needs to explore ALL it's resources while developing alternative energy. Nothing should be 'off the table' or banned. We need oil now while working on viable alternative energy.

No Ken, the source doesn't matter the supply does. If oil was in everybody's back yard you couldn't give it away! The US demand may decrease, but oil is a global commodity and emerging economies are increasing the demand. Speculators are just investors betting that the tight supply and demand will increase prices. They're right, but they're not to blame.

Thumbs up, Ken!

No I did not realize Canada was our largest supplier, I thought it was Saudi Arabia. Recently I read Saudi Arabia was producing around 10 million BPD and the USA is producing 8.3 or so million BPD. Certainly Saudi is doing their share to put oil on the market and should be commended. Iraq has incredible oil reserves and at one time produced 4.5 million BPD. If comrade Little George was not in cahoots with the bad guys and if this was not about stealing the world blind by deliberate manipulating an oil shortage Iraq's oil production would be through the roof, I think it is around 1.5 million BPD, now. What is going to happen when comrade Little George bombs Iran it will take their oil off the market and then we should see oil approach $250 per barrel. Little George bombing Iran has nothing to do with them as a military threat, it has to do with increasing the price of oil and stealing Iran's oil and giving it to Israel and the bad guys. You don't think the bad guys are going to get Israel to bomb Iran for free?

I grew up in the retail gasoline business and helped operate a chain of 35 or so gasoline service stations primarily in the Houston, the Valley and East Texas. My knowledge of what is going on now in gasoline prices is based upon what we went through in 1973 and 1978. Clearly gasoline prices were manipulated up in 1973 and 1978. Those times were horrible because massive inflation followed by incredibly high interest rates wrecked the economy, and decimated the middle class. After the disaster the oil companies turned the oil valve back on and oil fell like a lead balloon to less than $10 per barrel. If the 1973 to 1978 progression of oil prices, inflation, and interest rate increases hold we should expect the bad guys to manipulate oil to $250 per barrel and interest rates to 30%. You are correct. There will be nothing left. But then this is what the bad guys want. And the bad guys have selected Barack to help them with their agenda.