Roughly 40% of the oil used in the US comes from the wonderful state of Texas. The major oil producer in this state is XTO Energy Inc., an ExxonMobil subsidiary valued at approximately 41 billion (with a capital B) dollars. Pipelines, barges, rails, and trucks are used to get the oil from this lovely state to refineries and, finally, your house.
Capt. A. F. Lucas, a mining engineer, was drilling an oil well at Spindletop near Beaumont on January 10, 1901, when a large gusher of oil erupted. Before the well could be sealed up, thousands of barrels of oil gushed from the first salt dome oil find. Spindletop caused a stir throughout the globe and sparked further drilling and exploration in Texas.
Roughly 11% of the oil that the United States consumes is produced in New Mexico. Roughly 40% of the state's income comes from it. In Artesia and Gallup, they have two oil refineries that predominantly handle crude oil from the Permian and San Juan basins. To link the refineries to local and regional markets, the state also employs a number of petroleum product pipelines. The top producer in this state, valued at approximately $11 billion, is Eog Resources, Inc.
Since the early 1920s, when hydrocarbons were first discovered in the state, New Mexico has been a significant producer of oil and natural gas. The Midwest Refining Company dug its first commercial oil well on September 25, 1922, on the Navajo Indian Reservation close to Shiprock. The Navajo Nation objected to it being on their territory and continues to do so to this day. So much for treaties, huh?
The Bakken/Three Forks producing region in North Dakota sends crude oil to Patoka, Illinois, via the 1,172-mile-long, 30" Dakota Access Pipeline. This pipeline goes beneath Lake Oahe, a Missouri River reservoir in the Dakotas that provides drinking water to the Standing Rock Sioux Tribe and the Cheyenne River Sioux tribe. It also skirts tribal property.
When I say "skirt," I mean that they legit dug up a burial ground to put a pipe in. This pipe has been and continues to be intensely contested. It has gathered tribal groups from all around the world at the Oceti Sakowin Camp on Standing Rock. A federal court ruled in July 2020 that the Dakota Access Project must be halted while the government does a comprehensive investigation of the threat the pipeline poses to the Standing Rock Sioux Tribe. The closure order was soon reversed, and the pipeline has continued to run ever since.
Nine percent of the nation's oil is produced in North Dakota. Surprisingly, a lot of the oil is transported across Illinois to Canada. In North Dakota, 1951 saw the first significant petroleum find. On the Clarence Iverson property in Williams County, close to Tioga, petroleum was found in a wheat field. Clarence Iverson No. 1 was the name of the first oil-producing well.
The biggest oil producer there is HESS, which is from Texas. They are valued at more than $35 billion. North Dakota is currently home to a large number of oil producers since the state is going through an oil boom. However, experts warn that it might experience a significant decline in the upcoming years. Over 570,000 barrels of oil are transported daily through the Dakota Access Pipeline.
The Trans-Alaska Pipeline System (TAPS) is an oil transportation network that spans Alaska. It consists of the trans-Alaska crude oil pipeline, 11 pump stations, several hundred miles of feeder pipes, and the Valdez Marine Terminal. One of the biggest pipeline systems on the globe is TAPS. Yes, it was constructed over Native American land. In 1971, they received compensation for moving (again).
Nearly 4% of the nation's total oil production comes from Alaska. Despite a reduction in output, the oil sector remains Alaska's largest employer. In 1902, the rocky, coastal region where oil seeps had long been reported, saw the completion of the state's first oil well with commercial production. With over 1.6 million net undeveloped acres by year-end 2021, ConocoPhillips will be the largest owner of exploration leases and the leading producer of crude oil in Alaska.
According to the Colorado Oil and Gas Conservation Commission's most recent statistics, businesses in Colorado produced 152 million barrels of oil last year. The Front Range Urban Corridor is the largest energy market in the Rocky Mountain area, stretching from Cheyenne, Wyoming, to Pueblo, Colorado. More than 3 out of every 100 barrels of domestic crude oil come from this state.
Near Caon City, Colorado, a commercial oil well was first sunk in the Rocky Mountains in 1862. The Caon City-Florence field's wells were located close to oil seeps that were coming from Pierre Shale fissures on the surface. Occidental Petroleum is the largest oil company in the state. More than $1 billion yearly is produced by this sector.
Canada accounted for nearly 51% of all crude oil imports to the United States of America in 2021. Operating since 2010, the original Keystone Pipeline System is a 3,461-kilometre (2,151 mi) pipeline delivering Canadian crude oil to U.S. Midwest markets. Less than 1% of Canadian exports were delivered to other countries.
The overall value of Canada's black gold exports has increased from $151.8 billion to $598.2 billion between 1990 and 2019. The value of crude oil exports has surged almost fifteen times in those thirty years. The importance of other countries to the U.S. oil import market has changed, but Canada's crude has been even more significant over time.
Roughly 8% of the oil imported into the United States comes from Mexico. According to US Energy Information Administration data, it is on course to overtake Saudi Arabia as the second-largest exporter of crude and oil products to the US for a third consecutive year. The majority of the crude oil and processed products that are imported and exported by the United States are from Mexico.
Mexican heavy oil may be mixed to create the gasoline, diesel, and jet fuel that power the US Gulf Coast refineries and keep the economy humming. State-owned oil corporation Pemex supplies all commercial gasoline (petrol/diesel) stations in Mexico, exclusively. The largest oil field in Mexico, and one of the biggest in the world, is Cantarell Field.
Over 5% of the oil imported by the US comes from Saudi Arabia. The Strait of Hormuz is used by ships to deliver the majority of Saudi Arabia's oil exports. The world's largest state-owned oil company, Saudi Aramco, is based in Saudi Arabia and is valued at over $2 trillion.
In 1938, huge reserves of oil were discovered in Saudi Arabia. President Franklin Roosevelt deemed Saudi oil essential to American security in 1943 as worries about the war's impact on American oil output increased. Roosevelt and Saudi King Abdul Aziz had a meeting on board a U.S. ship in the Suez Canal in February 1945 to explore forging deeper connections. A few years later the country quickly became the world’s largest exporter of oil.
Colombia is the source of over 2% of the oil used in the United States. The northwest and center of this country house the majority of the country's enormous infrastructure for distributing crude oil. Five of Colombia's major oil pipelines, which total seven, link the country's oil production areas to the Coveas export terminal in the Caribbean, where oil is transported to the United States.
More than 80% of Colombia's crude oil pipeline capacity is owned by Ecopetrol, and its Cenit subsidiary is the conduit for all other product pipelines. They made more than 47.6 trillion Colombian pesos in income in 2020. Attacks on different pipeline system components have forced the suspension or cancellation of important projects intended to link the Llanos Basin with the port of Buenaventura on the Colombian Pacific.
The United States of America receives about 3% of its oil from Russia. Russian oil and products tankers are continuing to deliver uninterrupted to customers in the US as pressure from international sanctions on Russia ramps up in response to Moscow's invasion of Ukraine. US Companies have imposed personal sanctions on the purchase of Russian oil.
For Hawaii, California, Washington, and Alaska refineries, Russian crude is imported. Due to its low cost and simplicity of processing, the United States imports from Russia. The biggest oil producer in Russia is state-owned Rosneft. Rosneft was placed as the world's 53rd-largest public business in the 2020 Forbes Global 2000.
The United States imported an average of 157,000 barrels of petroleum per day from Iraq in 2021. That represents about 6% of US oil imports. It has been many years since Operation Iraqi Freedom’s bombs first landed in Baghdad. While most of the U.S.-led coalition forces have long since gone, Western oil companies are only getting started.
Iraq's domestic oil sector was completely nationalized and closed to foreign oil corporations prior to the 2003 war. After a decade of fighting, it has been completely privatized and taken over by international companies. Bush and Obama administration officials have even served as advisers to oil companies on their projects in Iraq after leaving office.
Over the past 50 years, oil companies have extracted massive amounts of petroleum from the Amazon, damaging the rainforest—which is crucial for preventing climate change—and putting the lives of Indigenous people who depend on it in peril. The US alone received almost 70 million barrels of oil from Ecuador's Amazon rainforest last year.
Consequently, the US is now by far this nation's greatest consumer of oil. Ecuador makes up about 3% of all oil the US imports. To maintain a strong demand for oil, the US frequently exchanges it with nations with which it is not necessary. In order to maintain high oil prices, the United States does indeed trade oil pointlessly.
Approximately 1% of the US total oil imports come from the United Kingdom. The largest oil producer in the UK is Shell PLC, with a market capitalization of approximately 204 billion dollars. To the dismay of many customers, the United States imports the majority of the oil from this country in order to maintain high oil prices and strong demand.
Oil was discovered in Scotland in 1851, and gas was discovered in England in 1896 when digging natural water wells for the Heathfield train station in Sussex. The found gas was used to power the station's lights. Wytch Farm Oilfield in Eastern Dorset was established in 1973 in a location of remarkable natural beauty, and it is now the largest oilfield in Western Europe.
This country's oil was discovered in 1956 in Nigeria's Bayelsa State. Nigeria accounts for around 1% of total US oil imports. ExxonMobil began operations in Nigeria in 1955 and is now the country's largest oil producer, producing over 500,000 barrels of crude oil daily from over 300 wells.
In 2021, the United States purchased 125,000 barrels of petroleum from Nigeria. Nigeria was formerly one of the leading suppliers of petroleum to the United States. However, since Canada's oil sands output has expanded dramatically, the US has switched trade partners for petroleum products in favor of cheaper, closer oil.
