Chuck Simmins has the latest numbers for US oil imports. Notice where two-thirds of our oil DOESN’T come from. I’m constantly surprised at how so many people think that almost all of our oil comes from the Middle East. It just ain’t so.
However, the Middle East still does have a disproportionate effect on our economy because if the price of Middle East crude goes up, crude everywhere goes up.
And, while on the subject, the answer to the “Why haven’t we done anything about Saudi Arabia?” crowd is “See number two on this list.” Their time may be coming, but we’re going to give them every chance to come around. And even if they don’t we need time to prepare for the oil shock that will shake the world if something big happens in the Land of the Two Holy Places.