Canada largest american oil supplier

yeah i was watching some cbc program, and it stated that canada was americans largest oil supplier. Anyone else here anything of this nature???

Yep, it's true.

Canada is #1
Saudi Arabia is #2
Mexico is #3
Venezuela is #4

58% of the US's oil is imported and Canada sends us about 30% of that.

Imports/Exports
The United States averaged total gross oil (crude and products) imports of an estimated 11.4 MMBD during 2002, representing around 58% of total U.S. oil demand. Around two-fifths of this oil came from OPEC nations, with Persian Gulf sources accounting for about one-fifth of total U.S. oil imports. Overall, the top suppliers of oil to the United States during 2002 were Canada (1.9 MMBD), Saudi Arabia (1.6 MMBD), Mexico (1.5 MMBD), and Venezuela (1.4 MMBD).

www.solcomhouse.com...

Interestingly, we only get 5% of our imports from Iraq, and only one major gas company uses oil from Iraq.




[edit on 7/29/2005 by Wiley_Wonka]

If Canada supplies the most oil to the US...would that not make Canada a "Large" target to disrupt the oil to the US like they are trying to do with other countries ?

Y'r Canadain Friend,
Sven

I have my suspicions about that. Perhap's largest North American supplier but somehow I doubt that as well.

Dallas

ask.yahoo.com...

* 17.8% from Saudi Arabia
* 16.5% from Canada
* 12.8% from Venezuela
* 12.0% from Mexico
* 7.5% from Nigeria

According to yahoo in 2003

Worldwide barrels per day we aren't even in the Top 10 Worldwide, allthough I've read reports they wanna hit 3 Million Barrels a day by 2010. Lots of American investment in Alberta these days, and the provincial government is taking all the credit too

Upon my travels i came across several Canadian mining operations in Oregon, Idaho, And Nevada. I later found out from a local sourse that the Canadians have exclusive mineral rights in the greater part of the Northwest U.S. I have a feeling that the two countrys scratch eachothers backs more so than would be within public knowledge.

You're looking at 2002 figures? Saudi oil is what controls the market, and the minds of those in NYMEX not Canadian oil. There are only 2500 wells in Iraqi, and 350,000 in Texas. Iraqi oil reserves (untapped) are equivalent to Saudi. Wait until Iraq looks like Texas. Why do you think China bid $18 billion CASH for Unocal? LOL they are trying to hedge future sales from Iraq.

I think two of the big reasons the US buys so much oil from us are the lower shipping costs, and we are a 'stable' supplier. I believe the goal is to reduce the US's dependence on middle-east oil.

In 2004, Canada took first place, ahead of Saudi Arabia, as the largest foreign supplier of crude oil to the US, according to data released by the Energy Information Agency of the U.S. Department of Energy.

Canada remains the largest supplier of oil (crude and refined combined) to the US in 2004, supplying 2.1 million barrels per day. This represents the sixth consecutive year, from 1999 to 2004, that Canada was the number one foreign supplier of oil to the U.S. Canadian oil represents 17% of US oil imports and 10% of US consumption.

Canadian oil production continues to increase each year, with production expansion of Alberta’s oil sands, and of the Atlantic offshore. In 2004, over a million barrels of crude oil per day were produced from the oil sands, about a third of total Canadian production. With planned investments, oil sands production is projected to double by the end of the decade.

At roughly 180 billion barrels (5 billion conventional and 175 billion established oil sands), Canada has the second largest reserves in the world.

Foreign Affairs Canada

And from the US govt:

Canada sends over 99% of its crude oil exports to the U.S., and the country is one of the most important sources of U.S. oil imports. During the first eleven months of 2004, Canada exported 1.62 million bbl/d of crude oil to the U.S., the single-largest component of U.S. crude oil imports. Canada also sent some 500,000 bbl/d of petroleum products to the U.S. during this period, the most from a single country. The largest share of U.S.-bound Canadian oil exports (65%) go to the Midwest (PAD District II), with smaller amounts heading to the Rocky Mountains (PAD District IV) and the East Coast (PAD District I).

eia.doe.gov...

Oh, and the Chinese are investing heavily in our oil production as well.

Now, with Chinese companies pouring hundreds of millions of dollars into the vast northern Alberta oil sand deposits, Crisby and others at Fort McMurray - a former Hudson Bay trading post - believe the good days have just begun.

Crisby says he doesn't care who harvests the oil sands, as long as the paychecks keep rolling in.

''It's a free market,'' said Crisby, who rocks out to country tunes while hauling 400-tonne truckloads of unprocessed sand for Syncrude, a giant Canadian oil producer.

To power its factories and fleets of new cars, China has intensified its search for oil in Asia and Africa. But Beijing's expansion into the United States' back yard demonstrates the risks the Asian economic giant is taking to secure energy supplies.

China's venture into Canada has triggered unease in Washington, where some fear it could threaten US energy security and set the stage for clashes.

Hong Kong Standard

America is sucking more oil out of Canada than any other nation on Earth per 2004.
And the bulk of US oil imports are from local sources.

Canada also supplies electrical power, timber, minerals and a lot of consumer goods. But the trade is mutual...... Canada can afford free health care for all and we don't spend any money on our armed forces because we have the protection of the most powerful millitary on the planet. You might notice that Saudi Arabia is also under the protection of the US millitary and has no real force of their own.

ha ha i like those straws.canada has alot of good resources.we will become bigger as oil sand technology becomes into its own.we have no need to be a target and are willing to share our resources in the name of peace and goodwill.

I want to make a correction on China. The bid for Unocal was not only to hedge Iraqi producton for the future, but primarily to get a piece of the oil pipeline running from Afghanistan to the Caspian. Iraq makes Canada look like Venezuela, without a pissed off Minister. I have a queston for you, when has the exchange ever dramatically increased or decreased oil prices based on Canadian supply?

Understand the market - understand the psyche.

Originally posted by vincere7
I have a queston for you, when has the exchange ever dramatically increased or decreased oil prices based on Canadian supply?

Excellent point. That is what I meant when I was referring to Canada being a stable source of oil, both crude and refined.

I guess that makes the question how much more drastically would prices rise and fall without a stable, continuous supply of oil from Canada? Both countries benefit greatly from this trade.

Thankfully, we will never find out. Cutting off oil to the US would be cutting off our nose to spite our face.

Originally posted by vincere7
I have a queston for you, when has the exchange ever dramatically increased or decreased oil prices based on Canadian supply?

Understand the market - understand the psyche.

Canada has almost no impact on world prices and our production is based on the demand of the United Stated and domestic use. Canada has no exports of oil or gas to any other nation than the US.

And it's a very dependable supply.

So what would happen if the European Union started pressuring Canada to deal with them first.. and around the same time the dollar crashed?

The EU can pressure all they like. We are a signatory to NAFTA, and we don't go back on our word.
We are not allowed to reduce our shipments of oil to the US, without decreasing our own use/deliveries of domestic oil by an equal percentage.

Edited to add: Yeah, our guys weren't thinking this all the way through when they signed, but the US got a heck of a deal on the energy front with NAFTA.


[edit on 31-7-2005 by Duzey]

If the dollar crashed all the glad-handing would fall by the wayside. Canada's chestnuts belong to Europe, not the USA.

Our economy is so intertwined with the US's at this point, that to do something like taking our oil away from the US would probably put half the country out of work and send us into an economic tailspin that we would never fully recover from. I'm pretty sure the US would retaliate, quite strongly.

BTW, why do you think Europe owns our 'chestnuts'? It's funny, Americans tend to think we are too European, and Europeans tend to think we are to much like the US. I'm just wondering, because I've never heard anyone say that before. They usually say the US owns us.

Canucks are British and French and whatever indiginous peoples are there, like here. We sit side by side, but when the axe falls, and the EU is in a better position, they're gonna come callin. The USA is gonna have too much on her burdon-laden plate to go sniping at Canada. Unless some crazy leader decides to go raid Canada's oil industry. That wouldn't surprise me, considering the fools running the show now.

we dont own Canada?

Well I guess if we really need the oil we can just come get it....


Joke intended