U.S. Crude Oil Stays in the United States. According to the U.S. Energy Information Administration (EIA), in 2011, 99.7 percent of the crude oil produced in (or imported into) the United States was also consumed here, which means less than one-half of one percent (0.3 percent) was exported. Simply put, the United States does not export crude […]
Myth vs. Fact: Plenty of Crude Oil Supply, Refineries are at Below Capacity
May 30, 2012 Myths vs. Facts
Myth
We have plenty of crude oil supply and our refineries are operating below capacity.
Fact
According to a 2011 Congressional Research Service report, Venezuelan and Mexican crude oil production is declining and refiners will need additional feedstock to refine and supply the U.S. market.
Myth vs. Fact: US does not need Oil Sands; American Oil Imports are Decreasing
May 30, 2012 Myths vs. Facts
Myth
Oil sands crude will do little to nothing to enhance U.S. energy security because the output is already slated for export outside of North America.
Fact
Oil is sent where there is demand and according to EIA projections, the United States will continue to have a significant need for oil in the foreseeable future.
Myth vs. Fact: Canadian Oil
May 30, 2012 Myths vs. Facts
Myth
The Keystone XL pipeline is only for the transportation of Canadian oil.
Fact
Keystone XL pipeline will also transport domestic oil.
