The U.S. Energy Department said it expected more crude oil will enter the country from foreign countries in part because U.S. oil was less cost effective.
During the first half of the year, the U.S. Energy Information Administration, part of the Energy Department, said total crude oil imports increased 7 percent year-on-year. The increase marks a first since 2010, when imports started to decline in response to rising domestic output.
By region, EIA said imports from members of the Organization of Petroleum Exporting Countries increased by 504,000 barrels per day, making up the bulk of the new oil entering the U.S. economy. Declines from Mexico were offset by more imports from Canada, making the net gain from non-OPEC countries less than 24,000 bpd.
obama has worked over time to undermine the economy and force this country to depend on others while being excoriated for not doing enough to wreak the nation.