As the updated chart shows, U.S. net imports of crude (red bar) fell more than 2.1 million barrels per day (bpd) from the beginning of 2008 through the end of 2013. Again, great news. Over the same period domestic crude production (blue bar) increased more than 2.4 million bpd. You don’t need a slide rule to understand that the increase in domestic production accounts for all of the reduction in imports.
Posted on: Thu, 31 Jul 2014 23:00:01 +0000
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