Not exact matches
We referenced their numbers when we looked at the changing anatomy of U.S.
oil imports, or when showing the
decline in coal use over recent years.
For one thing, the concerns over the
decline in crude
oil prices may be overdone, it said, adding that the economy is still resilient and Malaysia is likely to maintain a trade surplus as demand for
imports is also softening along with exports.
A ban on Venezuelan
oil would strain the market for heavy crude in the U.S., which is already tightening because of
declining imports of medium sour
oil from Saudi Arabia.
The US
oil - rig count plateaued near the highest level in three years and showed signs of
declining in late March (to 797), though it still stood 50 rigs above the year - end 2017 total.2 This contributed to expectations for a further increase in American crude production, which has topped 10 mb / d each week since early February, when WTI prices began to recede from their intra-quarterly high of US$ 66.14 a barrel.3 The amount of crude in US storage occasionally exceeded weekly estimates given the higher domestic output and fluctuating net
import figures, reigniting fears that US production may thwart OPEC's efforts to clear global oversupply.
In terms of
oil shipments to the U.S. and China, Saudi exports to the U.S. have been on the
decline as the total U.S.
imports fall while domestic shale production rises.
The US Gulf Coast currently
imports over 4 million barrels per day of crude
oil, a number which is expected to
decline but is unlikely to reach zero.
The
oil - and
import - dependent economy also
declined by 0.36 percent in the first quarter.
In the early 1970s,
declining domestic production and America's ever increasing thirst for
oil made dependency on
imports a necessity, whilst the OPEC Revolution and the 1973 Arab
oil embargo seemed to also make dependency a serious threat to national security.
We will become increasingly reliant on
imports as North Sea
oil and gas production goes into steep
decline;
As
oil exporting nations experience both
declining oil production and increased domestic
oil consumption, they will reduce
oil exports to the U.S. Because the U.S. is highly dependent on
imported oil for transportation, food production, industry, and residential heating, the nation will experience the impacts of
declining oil supplies sooner and more severely than much of the world.
With domestic gas production on the
decline in the 1970s and policymakers eager for alternatives to
imported oil, shale gas was one of several such radical resource bases that federal geologists tried to tap.
This is particularly critical for
oil importing countries that will be cut off from
oil exports at about twice the rate of the global
decline in available transport fuels.
The Energy Independence and Security Act of 2007 (EISA) was legislation enacted under the assumptions of
declining domestic production of crude
oil and far greater crude
oil imports.
«
Imports of liquid fuels as a share of total U.S. liquid fuel consumption are projected to
decline to 34 percent by 2019, increasing our energy security and limiting our vulnerability to politically unstable
oil regimes halfway around the world.
In the longer - term, investment in
oil and gas remain essential to meet demand and replace
declining production, but the growth in renewables and energy efficiency lessens the call on
oil and gas
imports in many countries.
When mitigating anthropogenic global warming is projected to require greater than 80 % lower fossil energy use, how do we provide the transport fuel and energy for rapid growth by developing countries while sustaining OECD economic growth when the Available Net Exports of crude
oil — after China and India's
imports — have already
declined 13 % since 2005, and Saudi Arabia may need to
import oil by 2030?
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During the early 1990s, Cuba saw a sharp
decline in energy supply due to a cutoff of low - cost
oil imports from the now - defunct Soviet Union.