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Let’s Talk Russian Oil
It’s on the radar of Congress. Stopping the very small flow of Russian oil into the American market. It is small. It will not create too much trouble for the American market.
In 2021, the US imported an average of 209,000 barrels per day (bpd) of crude oil and 500,000 bpd of other petroleum products from Russia, according to the American Fuel and Petrochemical Manufacturers (AFPM) trade association.
This represented three percent of US crude oil imports and one percent of the total crude oil processed by US refineries. By contrast, the US imported 61 percent of its crude oil from Canada, 10 percent from Mexico, and six percent from Saudi Arabia in the same year.
So when Republicans try to make this political, it tells you just how off this political party is. They are trying to have it both ways. Let’s cut the flow of Russian oil because they sense the political winds. While at the same time complaining that the price is going to go up.
Oh never mind that replacing this in our supply is fairly easy. We can increase internal production, and we are a net exporter at this point.
The United States became a net total energy exporter in 2019 for the first time since 1952 and maintained that position in 2020 even though both total energy production and consumption were lower in 2020 than in 2019. Total U.S…