Who is Hoarding the Oil? September 12 2007
According to this list of oil production / exporters in the world (http://en.wikipedia.org/wiki/Chart_of_exports_and_production_of_oil_by_nation) most countries are exporting a certain portion of their oil except for a handful.
After doing some simple quick math (please note very sloppy rounding) but here are some points:
The world net oil exports are ~27 million barrels a day (take into consideration that the US, China, India and Australia import)
The US imports ~12.2 million barrels of oil / day — Probably the largest consumer
So if 27 million barrels a day are still left up for grabs on the import market–Keep in mind the US, China, India and …
