10. IMPORTS RELATIVE TO CONSUMPTION

好

o U.S. PRODUCT IMPORTS FELL FROM A HIGH OF 17.4 PERCENT
TO A LOW OF 9.7 PERCENT IN 1980, RISING SLOWLY TO 11.3
PERCENT IN 1983. IN THE FIRST 7 MONTHS OF 1984, IMPORTS
ROSE BY 11 PERCENT TO A TOTAL OF 12.5 PERCENT OF CONSUMP-
TION.

MUCH OF THE CONCERN OF U.S. REFINERS OVER GROWING IMPORTS
IS ACTUALLY A RESPONSE TO A SIMULTANEOUS CHANGE IN THE
COMPOSITION OF IMPORTS. WHILE DAILY IMPORTS OF PETROLEUM
PRODUCTS ROSE ONLY 11 PERCENT BETWEEN 1983 AND FIRST HALF
OF 1984, IMPORTS OF THE PROFITABLE LIGHT PRODUCTS ROSE BY
37 PERCENT.

O ALTHOUGH RAPID INCREASES IN LIGHT PRODUCT IMPORTS ARE AN
UNDERSTANDABLE SOURCE OF APPREHENSION TO REFINERS, THE
HISTORICAL DATA INDICATES THAT THE SHARE OF THESE PRODUCTS
NORMALLY FLUCTUATES MORE WIDELY THAN PRODUCT IMPORTS AS
A WHOLE.

SOME INDEPENDENT OIL COMPANIES HAVE BEGUN TO LOBBY AGAINST
PRODUCT IMPORTS. NONETHELESS, ALL DATA INDICATES THAT
INDEPENDENTS ARE RESPONSIBLE FOR MOST OF THE U.S. IMPORTS
OF REFINED

PRODUCTS.

11. SOURCES OF IMPORTS

O ALTHOUGH THE U.S. IMPORTS PRODUCTS FROM ALMOST 40

COUNTRIES IN A TYPICAL YEAR, A HANDFUL OF COUNTRIES PROVIDE
MOST OF THE SUPPLIES:

37 PERCENT OF ALL U.S. PRODUCT IMPORTS COME FROM U.S. POSSESSIONS OR U.S.-OWNED REFINERIES IN THE CARIBBEAN.

ALMOST 21 PERCENT COMES FROM OTHER OECD NATIONS--
PARTICULARLY CANADA AND THE NETHERLANDS.

22 PERCENT COMES FROM OPEC NATIONS--BUT VENEZUELA
ALONE ACCOUNTS FOR 15 PERCENT.

ALTHOUGH NOT MAJOR SUPPLIERS OF ALL PRODUCTS, CHINA
AND ROMANIA SUPPLIED 15 PERCENT OF U.S. GASOLINE
IMPORTS IN 1983.

A SINGLE U.S.-OWNED REFINERY IN THE U.S. VIRGIN ISLANDS
SUPPLIED OVER 16 PERCENT OF TOTAL REFINED PRODUCT
IMPORTS.

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