UNTAPPED U.S. OIL + Gas Reserves

A couple of interesting charts showing some of the Price and Supply dynamics of Crude Oil:

* PRICE --> Check out the below graph depicting CRUDE OIL's 'bubblicious' spike since the beginning of 2008:

----------------------------------------------------------------------------

* SUPPLY --> The below graph is a snapshot showing 2007's drop in oil exports amidst historically high 2007 crude prices...partially demonstrates my belief that oil is a long term SUPPLY problem/concern (you'd think with prices so high exporters would be churning out max supply...maybe they are churning out max supply and that STILL isn't enough to meet rising WW demand):

*Lastly, speaking of SUPPLY, check out the below U.S. map showing WHERE the country has their largest 'potential' undeveloped (non-drilled) Reserves of Crude OIL + Natural Gas:


Data Courtesy: EIA + Barchart.com + U.S. Geological Survey

Who Ships CRUDE to U-S ?

U.S. OIL IMPORTS Geographic Breakdown:

1. Canada - 17.2%
2. Mexico - 12.4%
3. Saudi Arabia - 10.7%
4. Venezuela - 10.4%
5. Nigeria - 8.1%

* Top 5 countries make up about 60% (58.8%) of TOTAL U.S. Oil imports.

* Below diagram based on the EIA's 2005 data:


Data Courtesy: Energy Information Administration

IDKT - Nigeria, Oil + The U.S.

I Didn't
Know
That
...Per respected Commodities trader Dennis Gartman, in any given month Nigeria is either the 2nd, 3rd or 4th Largest Crude Oil Supplier to the United States.

Guess I need to start paying more attention to the geopolitical stability of Nigeria..

*FYI, OIL closed today, 4/18/08 at $116.69/barrel (UP 278% from the January 2004 price of $30.81/barrel!)