U.S. reliance on foreign oil registers big decline in 2010, EIA reports

08/2/2011 | Kansas City Star (Mo.), The

U.S. oil imports have dropped to 49% of the country's needs in 2010 because of several factors, according to a recent report by the Energy Information Administration. The decline is due to an increase in U.S. oil production, lower demand for petroleum products because of a down economy and the emergence of more efficient cars, the upswing in the use of biofuels and natural gas liquids to replace petroleum, and EIA's use of net petroleum imports to measure overall reliance on oil imports, this article stated. "It's a silent revolution," said Lehi German, publisher of Fundamental Petroleum Trends.

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Kansas City Star (Mo.), The