Saturday, June 09, 2007

United States oil imports and Saudi Arabia investments

According to

in March 2007,
the top 5 countries that the U.S. imported crude oil from are
Canada 1,780,000 barrels per day
Mexico 1,621,000 barrels per day
Nigeria 1,290,000 barrels per day
Saudi Arabia 1,216,000 barrels per day
Venezuela 1,036,000 barrels per day

And the top 5 countries that the U.S. imported Petroleum from are
Canada 2,305,000 barrels per day
Mexico 1,749,000 barrels per day
Nigeria 1,346,000 barrels per day
Venezuela 1,285,000 barrels per day
Saudi Arabia 1,244,000 barrels per day

According to
"Canada and the U.S. have one of the world’s largest investment relationships. The U.S. is Canada's largest foreign investor. Statistics Canada reports that at the end of 2005, the stock of U.S. foreign direct investment in Canada was $228 billion, or about 65% of total foreign direct investment in
Canada. U.S. investment is primarily in Canada's mining and smelting industries, petroleum, chemicals, the manufacture of machinery and transportation equipment, and finance. "

On the same government website it says about
Saudia Arabia at

During and after the Gulf War, the Government of Saudi Arabia provided water, food, shelter, and fuel for coalition forces in the region. There also were monetary payments to some coalition partners. Saudi Arabia's combined costs
in payments, foregone revenues, and donated supplies were $55 billion. More than $15 billion went toward reimbursing the United States alone.

It does not give figures about how much Saudi Arabia invests in the United States and vice versa.

Here ( ) is an article that says “...government sources estimate Saudi holdings in the United States at $400 billion to $800 billion.”
This particular article is warning us of the influence Saudi contributions to media outlets and Universities will have. The reality is whatever influence they have is negligible in these areas.

Another way the U.S. gets back its money from purchasing oil is by selling the Saudis sophisticated expensive weaponry. ( ) The Saudis don’t have the qualified personnel to use the weaponry, which is why they and Kuwait had to look to the United States for help when Saddam Hussein invaded Kuwait.

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