Importing
The demand for oil in the United States is increasing slightly every year but domestic oil production is decreasing. The U.S. is expected to consume an average of 19.6 million barrels per day of oil in 2000. It is estimated that the U.S. imported 10.9 million barrels per day of oil in the first eight months of 2000, (E.I.A. Paragraph 9). At this rate, the U.S. is currently importing about 57% of the oil that is being consumed. The main suppliers of oil to the U.S. at this time are; Canada (1.68 million barrels per day), Saudi Arabia (1.49 million barrels per day), Venezuela (1.46 million barrels per day), and Mexico (1.35 million barrels per day). The U.S. has energy sanctions against Iran, Iraq, and Libya, all major oil producers, that prohibit U.S. companies from doing business with them.