Myth vs. Fact: US does not need Oil Sands; American Oil Imports are Decreasing

MYTH: We don’t need the oil sands because American imports of oil are decreasing.

FACT: According to the U.S. Energy Information Administration, U.S. crude oil imports did in fact fall in 2011 as a result of higher domestic oil production and decreased consumption of refined products.[1] However, EIA projects that oil and other liquid fuels will still make up more than 30 percent of our energy consumption into 2035.[2] Canada will play a key role in satisfying our demand for oil. IHS CERA predicts that Canada could potentially account for as much as 36 percent of U.S. oil imports by 2030 – far more than any other foreign supplier.[3]

[1] EIA, “Today In Energy,” 19 March 2012

[2] EIA, “AEO 2011,” 26 Dec 2010

[3] IHS CERA, The Role of Canadian Oil Sands in US Oil Supply, May 2010

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