U.S. To Become MORE Dependent On Middle East Oil

[kpete]

Mideast to dominate petroleum products export market
By Carola Hoyos in London
Published: February 13 2006 17:24 | Last updated: February 14 2006 07:51

Europe and the US will become increasingly dependent on the Middle East as an exporter of refined petroleum products over the next 10 years, according to data published on Tuesday.


The figures compiled by the Organisation of the Petroleum Exporting Countries and Wood Mackenzie, the oil analysts, show ambitious refinery building plans in the Middle East are expected to propel its refining capacity above that of Russia and the former Soviet republics, where underinvestment has plagued the energy sector.

Aggressive investment in expanding and building new refineries is forecast to boost capacity in the Middle East by 60 per cent, according to the study published by Wood Mackenzie. This would make the region, chiefly the Gulf, the main exporter of finished petroleum products such as petrol, diesel, heating oil and jet fuel.

...........

George W. Bush, US president, said in his State of the Union address two weeks agothat he wanted to reduce US dependence on Middle East oil by 75 per cent.

But analysts said the US was likely to become more dependent on the Middle East.


http://news.ft.com/cms/s/f5ff48a4-9cb3-11da-8762-0000779e2340.html

[librechik]

1. didn't you hear Shrub say we would reduce our dependency?

I knew right away what he really meant. It was hilarious when the staff came out shrieking "Just kidding!"

Rule one: whatever they say, they mean the opposite.