As the American public watches a foreign enterprise attempting to plug a busted
pipe some 48 miles south of Louisiana beneath the surface of the Gulf of Mexico at about 5,000 feet, the citizens of Europe are pretty much secure in the fact that most of the European Union has some pretty good oil reserves. A little known fact realized by their distant cousins across the Atlantic, American’s really believe they are the only civilization on this Blue Marble who should be using the world’s reserves. If oil was our everyday monetary unit, which it really is, the United States of America is broke, busted and has few options on the table to run out and find another nipple like they had in the days of the oil boom in Texas. When you take a closer look at the operation in the Gulf of Mexico, albeit BP has a few gas stations scattered around, it is a British company, and is owned primarily by the big houses in Europe, and some selected relatives of the Bush White House. The latest report from the US Department of Energy shows the United States imported 320.01 million barrels of crude in the month of March at an average price per barrel of $71 this amounts to $22.7 billion. Contrary to common belief, most of the imports are from countries between the Pacific and the Atlantic – the America’s. The US imported 24.4% of its demand from Canada, 12.3% from Mexico, 10.1% from our friend Hugo in Venezuela, 2.9% from Brazil, from Columbia another 2.4%, and from Ecuador some 1.8%. The total percentage of the US crude imports from the America’s amounts to 54%, while our imports from the Middle East comes to 17.9% with our “friend” and “ally” Saudi Arabia supplying 62.04% of the 17.9%, or 11.1% of the US demand in March. Regardless of who the United States imports crude from, the representation shows a fact which 99.9% of all Americans know, we’re oil dependant on the rest of the world, and since the world spins on ball-bearing greased with oil – no matter what the USA does or to whom, somewhere or sometime or some-way or the other we’ll be depending on them for our grease. How much do we ourselves produce? Only 37.1% of our monthly demand, or approximately 188.8 million barrels a month (31-days) where our total consumption is perking along at 508.8 million barrels a month, which is a whole lot of gasoline at an average of 43 gallons per barrel, we love our gas! What about our distant cousins in Europe? Well, the North Sea produces annually about 28.6 billion gallons of crude a year, enough for Norway and Britain – albeit their oil production has been on the decrease lately they continue to discover new albeit small deposits in the North Sea. Whereas Det Norske, the Norwegian company found one that contains between 294 and 504 million gallons, and there is always the vast expanse of the Arctic Ocean which Norway has a pretty good slice of. Off-shore of the British continental shelf in the Northern Sea is the Leman-Bank, Brent, and Markham and Buzzard fields where proven reserves number around 994.6 billion gallons, and as for continental field the Wytch Farm (BPs largest on- shore field) holds about 17.14 billion gallons of crude. Britain and the United States ally, but actually a thorn in everyone’s side, France is in the same boat as the United States where it only produces some 140,000 gallons daily and burns up 14,000,000 gallons a day, and their explored and established reserves are 34.8 billion gallons. The Italians are sitting pretty, they produce some 1.4 billion gallons a year and those Vespa motor-scooters get a little better gas mileage than the Hummer, and their proven reserves of 24.3 billion gallons suits them just fine – albeit they don’t export any of their oil. More than likely the Holy Catholic Church is a major stockholder and won’t let them Unlike their neighbors, Spain which is actually hurting more than the poor citizens of the United States where their local production is only meeting 1% of their needs, which explains their big push towards alternative energy and rubber-band mo-peds (motor-scooters). And there are the guys the rest of the world treated like so-much left-over poop after WWI, Germany which is one of the richest European nations with respect to its access to local oil – whereas it has proven reserves of 160 billion gallons of crude, and on average produces 1 billion gallons – and like Italy they don’t export any of their crude – translating this if they don’t increase they auto’s they’re going to be in good shape for the next 160-years. Austria is in the same shape, plenty of crude and like Germany is taking its time developing it, concentrating on developing their tourist trade – selling their Alpine meadows, clean mountain air and a good bottle of wine and a terrific brick of cheese. There is more to living then just sucking up oil!