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.

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