So just last night I heard yet another debate about how all the US oil importers are radical Muslim countries, and how in the near future we might be held hostage to their price demands as oil gets more scare and our global political position weakens. I’m sure you’ve heard all the arguments before, and the range of possible solutions. But, have you ever heard that, in fact, the vast majority of our oil does not in fact come from Muslim countries at all? I’ve done my research, and it turns out that most of our oil comes from our direct neighbors! Here are the top 5 US oil imports by county. 1 – Canada Our friendly neighbors to the north, are also number one in the list of US oil importers! Would you have guessed it? Canada imports 1.9 million barrels of oil a day, most of which come from its tar sands. The obvious advantages of Canada as an importing country are the low transport costs, zero cross-border tax and the strong relations between the two countries.
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As we all know, the US is a huge importer of oil, and many of the oil producing countries that it imports from are not the most savory. Some of them have terrible human rights records, some have extremist governments, and some are just downright dangerous and unstable – and that is what this article is about. I have taken a look at all the major oil exporting countries to the US, and come up with the top 3 that are as far away from Norway as you can get, if you know what I mean…
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2) Reserves’ home countries try to get a bigger cut.
Back in the day, when prices were low, countries with plentiful oil reserves like Venezuela and Russia offered the big oil companies some pretty good deals. Now they’ve gotten quite stiff and want a bigger cut of the profits. Contracts and tax regimes are being adjusted so that the more profits oil companies make, the higher percentage the reserve country gets. Saudi Arabia and Russia are wary of letting any of the big oil companies on their soil at all now. The CEOs of these companies are tearing their hair out trying to find easier ways to foreign reserves. They complain that it is constantly getting more and more difficult to reinvest the profits they make into worthwhile ventures.
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Big oil companies are certainly not winners of popularity contests among the general public, but many are still worried about their success. In the end, their success equals gas for your car, which you really do need. However, it is getting more and more difficult for them to be successful in the current global circumstances because of tougher competition, big technical challenges, and hostile foreign governments. Here are 3 reasons why big oil companies may be in trouble, even though now they are rolling in the cash:
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3) Untapped resources are constantly discovered.
It is a complete myth that there are only a few sources of oil that are available for the West. Oil is being discovered constantly in many countries, with Russia being the leader of new discoveries. The reason that oil giants don’t want you to know this is that they obviously make more money from the oil myth. If something is available in abundance, it is harder to make a profit from it. Also, it is easier to propagate this myth and say that we are dependent on foreign oil rather than admit that we have enough of our own, in which case, the prices would have to be much lower.
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Peak oil refers to the end of petroleum extraction, and simply – running out of oil on the planet. This is talked about more than any other environmental issue in the world. But more and more people are starting to wonder: “Is peak oil a myth?” We think it is, so we’ve come up with 5 reasons why the peak oil myth is not a myth at all.
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This article is an update to the article about offshore drilling facts and offshore drilling pros and cons, posted on bionomicfuel a year ago.

The debate on the pros and cons of offshore drilling has become a big one in the US media this last 12 months. The future energy policy of the country is still unclear and many of its citizens want to know what the country is doing in the face of an uncertain future. In this article I have given you some offshore oil drilling facts, and some of the offshore oil drilling pros and cons.

In offshore drilling, oil is extracted from beneath the ocean floor, anywhere from a couple of hundred meters to 250 miles off the coast. Nowadays, oil companies are forced to explore locations as deep as 2 kilometers beneath the ocean’s surface, as easily extractable sources of oil are dwindling.

Not too many people know that the first place that offshore drilling took place was in Azerbaijan, in the 19th century. Since then offshore rigs have been built all over the world. One of the highest concentrations of them is in the North Sea off the UK, although the output from these rigs has been dropping for many years. The Gulf of Mexico is another area dense in rigs, and there are over 4000 of them currently in operation there.
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The oil spill in the Gulf of Mexico will most likely change the balance of power of international oil companies (IOC’s) and national companies in the oil industry.
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In best stocks news of the day, a leading oil executive and expert from Libya has suggested that Libyan’s sovereign wealth fund purchase a sizable stake in the energy giant BP.
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1. An Environmentally Friendly Option
One of the biggest advantages of hybrid cars is the fact that they are very environmentally friendly. They have much less pollution and greenhouse gas emissions because less fossil fuel is used. With hydrogen fuel cells the only emissions are clean and pure water.
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