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ISSUES....
Inside, confidential, off the record

Moving to 2nd place

Regarding S. Arabia, it has again moved into 2nd place amongst the US most important suppliers of crude from abroad, just barely inching out Mexico, but remaining far behind Canada. For all of '07, Canada led all others, sending 657 million barrels of crude to the US; S. Arabia sent 516 million; Mexico sent 504; Venezuela sent 483; Nigeria 407. From the 5th to the 6th place was a precipitous drop, for in 6th was Angola, who sent the US 182 million barrels of crude; Iraq sent us 172 million; Algeria sent us 163 million; Ecuador 72 million, and Kuwait rounded out the top ten, sending the US 62 million barrels of crude. In other words, the US got 720 million barrels of crude from the Middle East last year from three countries, and it got nearly 88% of that total from Canada alone... and yet Obama and Clinton want to re-negotiate the NAFTA with Canada! What nonsense is that?:

-Dennis Garthman/The Gartman Letter/ 03 25 08

- For more on interesting comments, you can subscribe to The Gartman Letter by contacting Dennis Garthman: Phone 757 238 9346, Fax 757 238 9346 or dennis@thegartmanletter.com

Petroleumworld News 03/26/08

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