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Energy independence: Transportation fuels targeted as way to reduce imported oil

Many options are available for how the country can move toward reducing its reliance on foreign oil.

BY ADAM WILMOTH Published: October 7, 2012
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U.S. has no refinery shortage

While the country is importing oil, it is not experiencing a shortage of refined products.

In 2011, about 29 percent of the country’s total energy usage came from oil imported from outside North America. That amounts to about 5.4 million barrels of oil per day.

Over the past 15 years, the country’s refinery capacity has gradually increased to 17.2 million barrels per day as refineries have expanded. The country’s refinery utilization rates are cyclical, peaking in the summer and falling through the winter. Over the past year, utilization topped out at nearly 93 percent in July, up from 86 percent in February.

SOURCE: U.S. Energy Information Administration

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