LOS ANGELES TIMES: According to the study, the United States reduced net imports of crude oil last year by 10%, or 1 million barrels a day. The U.S. now imports 45% of its petroleum, down from 57% in 2008, and is on track to meet Obama’s long-term goal, the administration maintains…
The report credits administration policies for the improvements. It cites initiatives such as the higher fuel efficiency of passenger cars, the jump in renewable energy output, and improved weatherization of 1 million homes.
But independent analysts attribute much of the fall in oil imports to slack U.S. demand in a still-anemic economy. And to a certain degree, they say, the boost in domestic oil and gas production is the result of decisions energy companies made during the George W. Bush administration to develop key reservoirs…. (more)
