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Which of the following best describes America's dependence on foreign oil? Select one: a. The U.S. imports much less oil than it exports. b. American consumption of oil has dramtically decreased over the last 20 years. c. America imports oil from Mexico but very little from the Middle East. d. the U.S. is dependent on foreign oil to meet its energy needs.

The correct option is D. America's dependence on foreign oil the U.S. is dependent on foreign oil to meet its energy needs. For crude oil, there is a single global market. Depending on transportation costs and crude oil quality, this worldwide price determines the price for all crude oils, plus or minus a few dollars." "U.S. customers would pay the worldwide price even if the country produced all the oil it required.

Where does the US get most of its oil?

The majority of the 7.86 million barrels per day that the United States imported in 2020 came from its neighbors in North America: Canada, with 4.13 million barrels (52.5%), and Mexico, with 750,000 barrels (9.6 percent ). However, imports from outside of North America play a big role.

Although the United States' total annual petroleum exports in 2020 and 2021 exceeded its total annual petroleum imports, it continued to import some crude oil and petroleum products from other nations to assist meet local demand for petroleum as well as to supply international markets.

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