Nobody From Nowhere (@i8dc)

Occasional Common Sense

U.S. Dependence on Foreign Oil Lowest Since 1995?

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Here’s a lovely example of how context matters.  Mark Perry presents the graph at right and says “dependence on foreign oil has fallen to 46.3% this year (average through September) and is the lowest in 16 years, since the 45.4% share in 1996.”

As always, the question first to mind is “So what?”

And the answer here, as it is so often: “Not much.”

Fact is that an enormous amount of the import share is explained by the level of U.S. consumption.  So as petroleum consumption has declined 9% since 2005, due to higher prices and a weaker economy, so too has our need to import petroleum to meet our needs.

Shocking, right?  The chart’s below.

 

 

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Written by David Clayton

November 17, 2011 at 11:05 pm

Posted in Debunkery

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