Peak Oil is You
Donate Bitcoins ;-) or Paypal :-)
Page added on January 20, 2012
U.S. Only Buying 10% of Oil From Middle East
Shraga Biran, founder of Alon Group and author of “Opportunism: How to Change the World One Idea at a Time,” and Ward McCarthy, chief financial economist at Jefferies & Co., talk about U.S. energy dependence and oil imports from the Middle East. They speak with Pimm Fox on Bloomberg Television’s “Taking Stock.”
2 Comments on "U.S. Only Buying 10% of Oil From Middle East"
cusano on Sat, 21st Jan 2012 12:32 am
I believe that everything that these gentlemen said was correct. What was disturbing about the discussion was that it was all about the present. Also, it downplayed the 10% (oil) we (The U.S.) import from the middle east. If Iran actually closed the strait, we would quickly understand what 10% really means. Let’s make this clear…cheap, affordable, easily accessed oil is just about over. Yes, we can become energy independent (fossil fuels), but it will at an unimaginable cost. So fellas,,quit the soundbits, and let’s get real.
DC on Sat, 21st Jan 2012 12:39 am
10% eh, like to see a citation for that source. Even if it happens to be accurate, its hardly the ‘truth’. The US may not receive the bulk of its physical oil for the ME, but its CORPOATIONS heavily profit on nearly 100% of the oil in the ME. This is the part people have a hard part grasping. The amerikans empire wealth, indeed its continued existance is almost 100% reliant on US petro-dollar dominance. Throw in the fact that most of ME’s oil is technically controlled by the US even if say, SA oil is nationalized. For an example, look at NAFTA. What it says is the energy of Canada, are actually the property of the United Snakes, to do with as they please, bought at rate they wish. Same idea with the ME, only the control is much more direct and brutal there. IE drones, troops, bases, Vassal states, supplied and back by US power, special forces assination squads, bkack ops, you name it.
Like how he points out that the US oilcos are so concentrated, but he attributes there ‘efficency’ to economies of scale, and to efficency itself. He glosses over the real reason they are so ‘efficent’ He forgot to add in , monopolistic and heavily subsidized. The US is best place in the world to be in oil business outside say, Nigeria. You get to suck out the oil virtually royalty free, and get paid billions by taxpayers to do it. Got a bad spill? The US corporate govt will deploy local, State, and Federal forces to keep out independant scientists, researchers, and activists while you go about covering up the damage. Getting sued in court? Once again, the US oil-state will be there to make sure any judgementes actually passed aginst you will watered down to nothing or outright dismissed, after dragging the cases on for decades. Id be as happy as Mr Biran too if I were in his shoes…