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Non-OPEC oil imports overshadow OPEC's hold on U.S. market: 60/40

GasBuddy Blog -- This week marks the first in which we see the Iran oil embargo in full effect. The U.S. and European Union countries have banned the purchase, transportation, financing and insurance of Iranian oil because of that country's stubborn pursuit of a nuclear program that threatens Israel and the entire Middle East.

Bloomberg reports that Iran was producing about 3.2 million barrels a day in May. Full implementation of sanctions will remove about 1 million barrels a day during the second half of 2012 as buyers disappear and Iranian storage tanks along with super tankers purchased from China become full.

Although Iran is not a significant supplier of oil to the U.S. at the same time Iran's embargo goes into effect, the U...

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Submitted Jul 02, 2012 By: PD
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Gas4Gore
Champion Author Detroit

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Message Posted: Jul 7, 2012 3:24:00 PM
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Okay America, let us make this stat 70% - 30%
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stonecold5005
All-Star Author Waco

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Message Posted: Jul 7, 2012 7:01:44 AM
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good
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jlf599
Veteran Author Kentucky

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Message Posted: Jul 6, 2012 11:38:31 PM
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Good question, CapriceWagon...just seems odd.
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CapriceWagon
All-Star Author Washington

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Message Posted: Jul 6, 2012 12:32:10 PM
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why are we importing oil while we export oil? wouldn't it be cheaper just to keep the oil here?
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albert2008
Champion Author Winnipeg

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Message Posted: Jul 6, 2012 8:26:00 AM
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we dont need them
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1006
Champion Author Birmingham

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Message Posted: Jul 6, 2012 5:54:03 AM
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there is plenty of oil on this continent, we just let them dictate the $
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albert2008
Champion Author Winnipeg

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Message Posted: Jul 4, 2012 8:09:57 AM
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hope it works
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viperND
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:/
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Cheepo
Champion Author Tampa

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Message Posted: Jul 3, 2012 3:18:09 PM
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Tell barrack hussein to drill here and now, drill baby drill!!!!!!!!!
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snappytom2
Champion Author Corpus Christi

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Message Posted: Jul 3, 2012 2:26:23 PM
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We do not suffer from not having Iranian oil. We suffer from having untreated speculatoritis.
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GatorGuy
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Message Posted: Jul 3, 2012 1:55:17 PM
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Good, I just hope we don't suffer in the meantime with higher prices.
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DutchTreatMI
Champion Author Grand Rapids

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Will this really do any good?
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jimbo1867
Champion Author Arizona

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Message Posted: Jul 3, 2012 12:47:15 PM
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say NO to iran
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MTPokts
Champion Author Indianapolis

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Japan still buying from them.
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livewire300
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uh...
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SUV2009
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Okay
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unicornpmb
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That's too bad.
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suzyq2007
Champion Author Dallas

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Message Posted: Jul 3, 2012 12:39:53 PM
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this is good that we are not giving them our money. I am sure there is other oil that we can buy, or we could drill our own
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NDQ
Champion Author Maryland

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ok
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Barfood
Champion Author St. Louis

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Message Posted: Jul 3, 2012 12:37:38 PM
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This will end up driving up prices because buyers are going to have to buy from other sources.
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Double_Golden
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ok
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sparky808
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Thank you for posting.
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Gramps001
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DITTO.
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idigau22
Champion Author Washington

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Message Posted: Jul 3, 2012 12:34:30 PM
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Remember! Obama took a rose and bowed down to the Iran Terrorist leader Imanutjob. Thank goodness this show of coward weakness will end in November!!!!
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Settjec
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Message Posted: Jul 3, 2012 12:32:33 PM
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Yes indeed!
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Go_E85
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going in the right direction.
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uptherefiners
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99/1 would be better
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trojan78
Sophomore Author North Carolina

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ok
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bcfuelsaver
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ok
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Fish167
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ok
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THX138
Champion Author San Francisco

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Message Posted: Jul 3, 2012 12:27:52 PM
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So what? Et alors?
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Point__man
Champion Author Raleigh

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Message Posted: Jul 3, 2012 12:25:38 PM
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Wonder if their remaining and new customers aren't making up for their losses from previous customers in increased demand ;) In a Global market, possibly the demand remains the same as the players change their options.
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pmanning7843
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ok
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NoStrings
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open it up
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oldiesman
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That for real?
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amayne11
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I like Van_halen's comment
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MahopacJack
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Message Posted: Jul 3, 2012 12:22:26 PM
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Must be a slow news day. This is from yesterday.
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Algernon
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Message Posted: Jul 3, 2012 12:20:53 PM
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Need to drill here and drill now.

To do that, VOTE OBAMA OUT IN 2012!!!!!

[Edited by: Algernon at 7/3/2012 1:21:15 PM EST]
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dacofa
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oh well
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dave1745
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hmm
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LostToo
Champion Author Illinois

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Message Posted: Jul 3, 2012 12:18:15 PM
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Yes! This should work... Just look how well the embargo worked on Cuba. Forty plus years of embargo and that country never folded. Just how are we going to hurt them by not buying oil that we never intended to buy in the first place? If anybody is going to fold, it's the EU. What a waste of time and resources. Just let Israel go in and blow it up. That is where it's heading anyway.
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jbrad4
All-Star Author Dallas

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Message Posted: Jul 3, 2012 12:15:22 PM
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No OPEC oil for U.S.
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ironbox_sara
Champion Author Albany

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Message Posted: Jul 3, 2012 12:12:52 PM
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Screw OPEC.
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ace12012
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Message Posted: Jul 3, 2012 12:09:39 PM
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read it before.
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Rt118E
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About time we get away from Arab oil
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rick_evans
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ok
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bluebird1
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Message Posted: Jul 3, 2012 11:59:41 AM
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Could be even less from OPEC ....I'm with Van_halen on this one!!!
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rodzilla123
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Old Post, commented on it Yesterday.
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Van_Halen
Champion Author Atlanta

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Message Posted: Jul 3, 2012 11:57:41 AM
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.
HELLO! There is absolutely no need to import any Oil other then from Mexico and Canada. Between the three there is enough Oil to last OVER 250 years at 2006/2007 consumption levels! We should drill for the Oil we have and ban imports which would lead to Dollar Gasoline as the OPEC price of Oil plummets!
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Susieq60
All-Star Author Columbus

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Message Posted: Jul 3, 2012 11:56:44 AM
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interesting
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