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Subject:  Re: Are We Energy Independent? Date:  10/15/2012  1:29 PM
Author:  AOLFoolman100 Number:  648932 of 795238

Crude oil and other sources of energy are often sold over the major exchanges globally. They are sold globally and use benchmarks such as Brent, West Texas Intermediate, etc., which have differing physical characteristics such as the sulphur level content - (sweet crude, sour crude, etc.)

It's not the case that if, for example, the US uses 10 million barrels a day (made up number) and we produce 10 million barrels within our borders, therefore all 10 million barrels stay within the borders. It's not even remotely that simple. Large multinational companies like Shell, Chevron, Exxon, etc. have