The BBC is reporting that China has earned the dubious distinction of being the world’s leading importer of foreign oil.
China has knocked the US from its top spot as the world’s biggest net importer of oil, US government data shows. The country’s fast-growing economy, as well as the rise in car sales, has led to its new status, according to September’s data. Oil consumption in China had outstripped production by 6.3 million barrels a day, said the Energy Information Administration (EIA). In the US, the figure was 6.1 million.
Although the U.S. consumes almost 80 percent more oil per day than China – 18.6 million barrels vs. 10.9 million barrels – technological advances have enabled America’s domestic oil and gas production to dramatically improve thus increasing our self-sufficiency.
Read more HERE.
T. Boone Pickens will be on stage with Rebecca Jarvis at The Concordia Summit today at 4:10 pm ET. You can watch live at www.concordia.net. If you’re on Twitter, join the #Concordia14 conversation and submit questions for Boone using #energychat.
For the past few months, I’ve sat back and watched the unfolding events in the Middle East and around the world. Scary stuff. And it underscores what I’ve been saying for six years now. We need to get off OPEC oil completely, and, in the process, get serious about injecting domestic fuel replacements in our transportation mix.
With the mid-term elections coming up, this is your chance to make your voice heard. We can do that together. There’s little doubt that our OPEC oil dollars find their way into the pockets of these terror groups. It’s time to end this insanity completely, and we should look to the upcoming midterm elections as another critical opportunity.
Click here to email candidates running for governor and the state legislature in the upcoming election.
Thanks to your help we’ve made some good progress. We launched the Pickens Plan for enhanced domestic energy security six years ago. Since that time, OPEC oil dependence has been sliced almost in half, from 6 million barrels a day to about 3.2 million barrels per day today.
The US oil and gas industry has also played a big role by using new technology to bring more product to the American people. And I believe people understand that anything on US soil helps all Americans.
Now is not the time to back off our campaign. We cannot be lulled into a false sense of energy security just because of stunning increases in domestic oil and gas production. We need to break down the barriers to increased use of domestic natural gas as a transportation fuel to replace OPEC’s crude oil and diesel. And we need to demand smart policies from our elected officials – at all levels – that make utilizing this important domestic resource at home a priority, rather than making natural gas exports to Europe and Asia our only goal. Job one for me is rebuilding our national security and our economy with our cheap natural gas.
So here’s what I’m asking you to do in this election: let those running for office know that you believe advancing America’s energy security is a top priority for you.
Ask them where they stand on getting natural gas more engrained into American transportation, and how they propose doing it.
Ask them if they are committed to freeing us from OPEC’s oil shackles for good, and how they propose getting us there.
We’re here to help. Learn about some of the state priorities in your area.
Brush up on key energy issues and opportunities.
Engage directly with those in office, or seeking office.
Through various social media channels, we are now more than two million strong, united, I believe, by a desire to make America’s energy future much more secure. OPEC is the threat. Let’s keep taking every chance we can to make them irrelevant.