“The US Consumes about 20 million bbl per day.”
Please issue a correction based on our conversations.
Yes, I’ll issue a correction. The argument you were making proves this number wrong.
The US consumes 20+ million bbl/day of what is classified as “Petroleum Products”.
https://www.eia.gov/tools/faqs/faq.php?id=33&t=6
“Petroleum: A broadly defined class of liquid hydrocarbon mixtures. Included are crude oil, lease condensate, unfinished oils, refined products obtained from the processing of crude oil, and natural gas plant liquids. Note: Volumes of finished petroleum products include non hydrocarbon compounds, such as additives and detergents, after they have been blended into the products. “
Of that, we can deduce from other EIA published data that the majority of the petroleum products produced in the US are consumed in the US.
However, we still export 7.9 million bbl/day of petroleum products, 28 percent of which is crude oil. That equates to almost 2 million BBL/day. Leaving 9 million bbl/day of US crude production (EIA 2018 data is 10.99 million bbl/day) consumed in the US.
And, we IMPORT almost 10 million BBL/day (9.93 million bbl/day of petroleum product), of which 78% is crude oil. That’s about 7.75 million BBL/day of crude oil imported.
This leaves us with a net import of CRUDE OIL at a little over 5.5 million BBL per day. When added to the crude produced and refined/consumed here (9 million bbl/day) total US crude oil consumption is 14.5 million bbl/day.
That’s a little over 2/3 of US “Petroleum Product” consumption of 20.5 million bbl/day.
5.5 million bbl/day in net crude imports, divided by 14.5 million bbl/day of consumption says we are importing approx 38% of our net crude oil consumption. 5.5 million bbl/day.
Of course by PETROLEUM PRODUCTS our net deficit is under 3.5 million bbl/day. Because we have a SURPLUS of Natural Gas and LPG.
Is my logic sound, or did I miss something?