"That's what America needs"; he said sarcastically, "another talking head spouting off stupid theories that will be reiterated by others who are to lazy to ask themselves if what they are hearing is reasonable".
To qoute Marisa Tomei from the movie My Cousin Vinny,
"No...No..., it doesn't, that statement dosen't hold wata"
True, many of the OPEC nations do not love or even like the U.S. yet they do need us as much as we need them. All the other factors that affect the price of oil on the open market aside, they are not dumb. We need their oil and they need our money. Why would any oil producer want to destroy their largest market? How or who would replace us as a customer, China? Not even China can replace our demand.
You may be surprised to see diversity and ranking of the U.S. crude oil import sources for March of 2008 (thousands of barrels/day)
- CANADA...............2,542
- SAUDI ARABIA ...1,542
- MEXICO ..............1,358
- NIGERIA..............1,174
- VENEZUELA .......1,033
- IRAQ .....................773
- ALGERIA ..............441
- RUSSIA .................402
- ANGOLA ................388
- VIRGIN ISLANDS......290
- ECUADOR...................238
- UNITED KINGDOM...218
- KUWAIT.....................203
- BRAZIL.......................191
- COLOMBIA................165
