re: u.s. preparing military strike on iran/ oil is
Most of Iran's oil goes to Asia and Europe so they are the areas that would be affected should anything beyond taking out a few nuclear sites eventuate. The US as the latest figures (which are also an indicator of the major players ranking over the last 5 years) show is not dependent on Iranian crude. So what is the significance of the Euro in the crude oil context?
October 2005 USA IMPORT HIGHLIGHTS
Released on December 22, 2005
Monthly data on the origins of crude oil imports in October 2005 has been released and it shows that four countries have exported more than 1.0 million barrels per day to the United States (see table below). The top sources of US crude oil imports for October were Canada (1.493 million barrels per day), Mexico (1.468 million barrels per day), Saudi Arabia (1.180 million barrels per day), Nigeria (1.094 million barrels per day), and Venezuela (0.909 million barrels per day). The rest of the top ten sources, in order, were Iraq (0.563 million barrels per day), Angola (0.501 million barrels per day), Ecuador (0.273 million barrels per day), Kuwait (0.271 million barrels per day), and United Kingdom (0.219 million barrels per day). Total crude oil imports averaged 9.380 million barrels per day in October, which is an increase of 0.302 million barrels per day from September. The top five exporting countries accounted for 66 percent of United States crude oil imports in October and the top ten sources accounted for approximately 85 percent of all U.S. crude oil imports.
