Does anybody know? Thanks.

-- curious (tuning@up.my.bike), February 11, 2000

Answers

The US senate says 14.4%

-- Juan Valdez (vgd38@hotmail.com), February 11, 2000.

The 14.4% was from the Senate report Juan, however this figure represented the % of US IMPORTS, not the % of TOTAL US oil. Not sure what the actual percent of total US oil that Saudi supplies, but its probably around 7% or so, since the latest figures I saw showed imports of about 9 million barrels per day compared to 19 mbpd total product supplied (oil, gas, other petrolium products).

Try this: http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/weekly_ petroleum_status_report/current/pdf/highlite.pdf

-- FactFinder (FactFinder@bzn.com), February 11, 2000.

Yes thats right 14% of 56% ( total imported). So if Saudia Arabia cuts our imports by 25% it wouldnt be all that much.-If everything else holds up.

-- Juan Valdez (vgd38@hotmail.com), February 11, 2000.

What % of Japan's oil comes from the Saudis?

-- rebel (with@ina.cause), February 11, 2000.

I haven't followed this real hard Juan, but it seems to me that we still have a problem with the DOE's lack of leadership on this issue, I mean a doubling of heating oil in NY is outrageous without a severe embargo or some other major cause....a decrease in stockpiles and a temporary regional supply problems causing it means someones making a killing on this. So a few percent decrease in Saudi supply could be another excuse to raise prices...

Maybe someone who knows the industry real well(I don't) can elaborate on the distribution chain and spot pricing (see my post above to the heating oil / "Distillate Watch" link...

-- FactFinder (FactFinder@bzn.com), February 11, 2000.

Running the numbers if the drop is 4% of 14% then you are looking at roughly the same PERCENTAGE as the drop in 1974. That was a recession to write home about.

lazarus

-- L LONG (lazarus@marginal.notes), February 12, 2000.

According to an oil analyst who writes on the web using the handle Gordon Gecko:

"We [the U.S.] import around 7-8 million barrels of oil per day. That oil plus what we consume domestically, another 6 million or so barrels, accounts for approximately 3% of GDP at this time. The products which are manufactured from oil affect the price of everything, heat, travel, shipping, plastics, air freight, etc. This cost increase must be passed to the consumer who pays higher prices for their goods. Freight prices affect everything. Power prices would go up. Food prices would go up..the list is endless."

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If you explore this site, you may be able to find all you are looking for above. Very comprhensive:

http://www.eia.doe.gov/

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And here are "% of impact on the environment" stats - regardless of how much is imported or where it's imported from. And also, what remains even if imports "drop to 0%."

Best,

-- steve (WhoCares@nymore.Right?com), February 12, 2000.

ok...for that last URL entry above, just try this:

http://www.bashar.com/GSP/McSpotLight.htm

and see if that works.

-- steve (WhoCares@nymore.Right?com), February 12, 2000.

FactFinder,

Thanks for the info. If the Saudis make up 7% of total oil imports and those are cut by 25%, that is almost a 2% cut in total oil availability. Didn't a 7% reduction in the availability of oil in the 70's produce the recession that followed?

-- trafficjam (road@construction.ahead), February 12, 2000.