June's imported oil level highest in 2009

July 20, 2009 | Print this Page.
America spent $24.7 billion on foreign oil in June
Despite the recent introduction of the Natural Gas Act in the Senate, the level of imported oil grew by 13 percent in June, announced energy expert T. Boone Pickens last week.

The latest figures from the U.S. Department of Energy's Energy Information Administration (EIA) show that 64 percent of America's oil - adding up to 354 million barrels - was imported by foreign oil providers in June, said Pickens.

For the overseas oil business, financing from the United States reached $24.7 billion in June, marking a 13 percent increase from May's $21.6 billion.

June's imported oil level was the highest so far in 2009, Pickens reported.

"The amount of oil we import each month remains the largest threat to our national and economic security," said Pickens. "Americans know that we cannot continue to be susceptible to the dramatic fluctuations and manipulations in oil price and the impact that has on them at the pump."

This week will see a more detailed snapshot of the oil and gas industry, as several oil-service firms announce their second-quarter results.

Interact with Us:

Share This News Story:

Post new comment

The content of this field is kept private and will not be shown publicly.
This blog uses the CommentLuv Drupal plugin which will try and parse your sites feed and display a link to your last post, please be patient while it tries to find it for you.
CAPTCHA
This question is to determine whether you are a human visitor and to prevent automated spam submissions.
Capital Solutions Apply Today, Get Cash Next Week

What Our Clients Say

Risk-Free Guarantee

When we started this program, you indicated your team was there to transition us over to a more conventional working capital arrangement in time. It actually happened very fast, and the new program is working well... I just wanted to thank you and your whole team for the professional manner in which you handled our account.

R.P. Campbell
PolyFlex Products

The HUGE difference I found since we are working with you... is in the day-to-day life... Since Capital Solutions is funding us there is no "fear"... when I talk to a vendor or need to make payroll. You guys have also bent over backwards... to make it work for us. I really appreciate that.

Keri Gray
Energy Services