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?
“This leaves us with a net import of CRUDE OIL at a little over 5.5 million BBL per day.
“
Wrong math.
Your eia.gov site specifically says:
“Crude Oil Net Imports 3.43 mil bbl/day”
“This leaves us with a net import of CRUDE OIL at a little over 5.5 million BBL per day. “
hmmm. From your linked site for recent period:
Net Imports (Incl. SPR) 0.620 million BBL per 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?”
Yes. Net Imports is 0.6 mil bbl/day NOT including NG or LPG.
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?
This chart shows US oil imports by country in barrels per day for the first six months of this year. By far and it isn’t even close the country with the largest source of oil for the US is Canada. That oil is going nowhere else but the US and is secure as any source of oil. Interestingly Venezuela was quite low and dropped to 0 in June of this year. Direct imported oil from Saudi to the US is just above half a million barrels. Total Persian Gulf oil is around 1 million including the Saudi part.
https://www.eia.gov/dnav/pet/pet_move_impcus_a2_nus_ep00_im0_mbblpd_m.htm