Quote:
Originally Posted by Setec Astronomy  Considering we use over 800 million gallons of oil a day, I wouldn't hold my breath that "billions of gallons" is going to do much for your pump sticker-shock. That new find is 3-4.3 billion barrels...we use ~7.5 billion barrels a year. |
True, but our oil is mostly imported, in order from Canada, Saudi Arabia and Mexico. Iraq is #6!!
The main thing is this would seem to increase our available oil supply, thus they can't hold "low supplies" over our heads (as much) to increase prices in the future.
Crude Oil and Total Petroleum Imports Top 15 Countries - EIA.gov