By Stephany Romanow
The major takeaway from the US Energy Information Administrations (EIAs) new Liquid Fuels and Natural Gas in the Americas report is that the Americas, including North America, Central America, the Caribbean and South America, are significant contributors to the global markets.
This region rivals the Middle East (ME) in oil production, and it is exceeding the former Soviet Union (FSU) in natural gas production. Key findings from the EIA country report are:
US crude oil imports from Latin America are declining, but crude imports from Canada are increasing.
Crude exports from other Americas countries are shifting to Asia-Pacific nations, especially China and India.
From 2003 to 2012, US imports of crude oil from other countries in the regionprimarily from Canada, Mexico, and Venezuelaaveraged 5.01 million bpd (MMbpd).
The US has become a net exporter of petroleum products, exporting 2 MMbpd to countries in the region...