Oil, it’s a big issue. The US in recent years has been feverishly trying to develop its own energy sources to reduce dependence on foreign oil, especially from less than friendly countries.
What most Americans probably don’t know is that their friendly neighbour to the north is by far the biggest single foreign source of oil.
How big? Well over 40% of the oil the US consumes comes from Canada, to be precise 43.1 percent. The next biggest foreign source is Saudi Arabia, far down though at just over 14 percent of US crude oil imports.
That means that in every American car, boat, plane, lawnmower, chainsaw or anything that uses fuel, a lot of the gas or diesel (or lubricants) came from Canada.
The US absorbs by far, most of Canada’s crude output, about 70 percent, or in other terms 3.2 million barrels each day, out of a total production of over 3.6 million bpd Those 2015 figures represent a hefty ten percent increase from 2014 exports to the US. That’s in spite of a substantial increase in US production due to advances in technology to reach and extract oil and gas previously too difficult to tap.
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