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Demand grows, production slowsįorecasts predict that future global oil demand will rise sharply. The safest, cheapest, and fastest path to energy security is to implement oil savings measures-outlined below-to reduce dependence on foreign oil and protect our pocketbooks. The United States must meanwhile prepare for a coming oil price crunch caused by increasing global demand and slowing global production. China has made oil deals around the world over the past few years that can deliver a supply of more than 7.8 billion barrels of oil to the country over the next several years. Global oil demand-led by the United States and followed by China, Japan, and India-will dramatically increase over the next two decades. And Mexico’s primary oil sources will be depleted by 2019. But a majority of Canadian oil comes from tar sands-a dirty crude oil that can cause as much as five times more greenhouse gas pollution to produce compared to conventional oil. Canada and Mexico are our largest importers. dependence, but world dependence on Middle East oil-and that has not shrunk.”
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dependence on the long-haul Middle East has fallen sharply … since oil is a global market, the relevant measure for that vulnerability is not U.S.
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The International Energy Agency notes that the United States also remains vulnerable to a Middle East oil disruption: “U.S. The United States doesn’t buy Iranian oil, for example, but a $1 increase in oil prices provides an additional $1.5 billion to the Iranian government annually. These high prices benefit all petro-states regardless of whether the United States is buying from them or not. oil come from countries that the State Department considers to be “dangerous or unstable.” And the cost of this oil will rise as global demand increases. The national security risks that stem from the United States’ heavy reliance on foreign oil are well documented.