Quote:
|
Originally Posted by OpieCunningham
You're reading the information in the link you provided incorrectly.
The chart where you picked 4.4% is the proportional amount of oil imported into the reserves. Not the proportional total amount of imported oil.
|
That wasn't a mistake. That's what I meant to show.
However, I accept there is a difference in the amount "saved" vs the amount "used".
Quote:
|
What the chart is showing you is that most of the Saudi oil is not placed in the reserves. It is also a 20 year average chart (1975 - 1995).
|
Agreed. But isn't a 20 year average figure more reliable than the figure for a single year?
With reference to the reference you posted below, an interesting quote is "only about 30% of the USA's oil imports came from Arab countries in 2002. Since USA oil imports are about 55% of USA oil consumption, only about 15% of USA's oil consumption is provided by Arab countries."
Therefore, considerably
less than 17% of US oil consumption is based on Saudi oil. If my maths are right (and I'm never good at this kind of thing), that means less than 10%.
Interesting topic. I wonder where these figures came from? Is Piero scaruffi's personal home page a reliable source?
Mr Mephisto