This is absurd - 54.5mpg mandate by 2025

[John Milmont]

Jim in post 35 you stated how this is going to reduce our dependence on foreign oil. I have thought about this and even covered it in my blog.

I think this mandate may cause us to use less oil, but it doesn't change where we get it from. It may not have any effect on opec countries if they reduce their supply to counter the reduced demand. They will just charge more for the little they produce. In the end, they could make the same amount of money and thats the only real thing that matters.

 

[Jim Craik]

John,

I did some checking, it turns out the majority of imported US oil comes from Canada, with only around 15% comming from the Middle East.

 

[Keith]

John,

I did some checking, it turns out the majority of imported US oil comes from Canada, with only around 15% comming from the Middle East.

Which part, the British part or the French part? (Of Canada natch)

 

[John Milmont]

John,

I did some checking, it turns out the majority of imported US oil comes from Canada, with only around 15% comming from the Middle East.

So? what does that mean? we should continue getting 15% from the middle east? Or do you mean that we should be dependent on foreign oil?

All I'm saying is that the countries that typically hate us probably wont be effected. It would be more in context if you gave the percentage of countries that are hostile, or have negative U.S. policies, that we get oil from. Just a hunch, but I think its more than 15%.

 

[Jim Craik]

John,

But if we lowered our oil usage by 15%, convebably we could stop buying from them. My guess is far from raising their prices, they would be forced lower them to gain back income.

 

[John Milmont]

I sure hope that happens, but I dont think i would hold my breath. It basically means that we would stop buying from those countries, and the friendly countries would have to maintain their current oil production.

I hope our politicians can resist the lure of all those unfriendly countries lobbying...

Actually, looking over some opec production numbers, our friendly sources are going to have to produce well over 15%.

OPEC production numbers can be found here: http://www.eia.gov/dnav/pet/pet_move_impcus_a2_nus_ep00_im0_mbbl_m.htm