Not exactly. We currently consume more oil than we produce. All oil is not the same, however, and we do import foreign oil because of it's characteristics. We also refine our own production and imported oil into refined products and ship those overseas. We also import refined products. Oil and the refined products from oil are global commodities.
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Originally Posted by jimjamuser
OK, I read that link. It was a hard read and complicated. And it does make EVERYONE engaged in moving the oil either by pipeline or railcars, including Warren Buffet, seem responsible for serious environmental degradation. Railcars have crashed and pipelines have ruptured creating BIG problems. It seems like a lot of blame to go around, starting with BIG OIL.
....The US has enough oil for its own needs. It looks like the US is jeopardizing its own environment to satisfy the NEEDS of other countries. It makes me think back to some of my "big picture" comments - that the world population of 8 billion people that increased rapidly since 1900 - seems to be the ROOT cause of this crude oil problem and most other PROBLEMS.
.......And that leads to one of the positive aspects of Elon Musk's life, namely manufacturing a well-liked Electric automobile. Which could help with our OIL DEPENDENCY. I will give him credit for that, but NOT for Twitter. I do not know if Warren Buffet has ANY investments in electric vehicles. He probably does invest in electrical power companies. I will have to check that. And possibly natural gas?
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