---
title: "Slick Oil"
url: https://independentstockanalysis.com/slick-oil/
description: "Crude Oil Declines on Concern Economy Failing to Recover at Bloomberg . “The United States imported about 45% of the petroleum (crude oil and petroleum…"
published: 2012-07-06
updated: 2012-07-06
---

# Slick Oil

Published 2012-07-06

Posted on

by

J.J. Butler

Crude Oil Declines on Concern Economy Failing to Recover at [Bloomberg](http://www.bloomberg.com/news/2012-07-06/crude-oil-declines-on-concern-economy-failing-to-recover.html).

“The United States imported about 45% of the petroleum (crude oil and petroleum products) that we consumed during 2011. Just over half of these imports came from the Western Hemisphere. Our dependence on foreign petroleum has declined since peaking in 2005.” Additional data point: April 2012 net petroleum imports were down 15% from April 2011 and the trend is accelerating. [EIA](http://205.254.135.7/energy_in_brief/foreign_oil_dependence.cfm)

April sets monthly record for net distillate exports also from the [EIA](http://www.eia.gov/oog/info/twip/twip.asp).

Canadian pipeline, Bakken Blend crude differentials jump more than $2/b at [Platts](http://www.platts.com/RSSFeedDetailedNews/RSSFeed/Oil/6443129).

U.S. fuel economy: [Detroit News](http://www.detroitnews.com/article/20120705/AUTO01/207050424/1148/rss25)

Canadian Oil Sands- Production Update at [amp2012](http://amp2012.com/2012/07/05/canadian-oil-sands-production-update/). Crescent Point’s Saxberg: Canada’s obscure oil baron at the [Financial Post](http://business.financialpost.com/2012/07/03/crescent-points-saxberg-canadas-obscure-oil-baron/?__lsa=9b88e08e).

Another Canadian oil and gas income play cuts their dividend, this time Pengrowth by 43%: [Yahoo](http://finance.yahoo.com/news/pengrowth-energy-corporation-announces-further-100000469.html).

Oil producing nations and global imbalances: [Economist](http://www.economist.com/node/21553424).

A bit more one guar gum: [Fuel Fix](http://fuelfix.com/blog/2012/07/05/big-energydemand-for-guar-gum-squeezing-other-industries/?utm_source=twitterfeed&utm_medium=twitter).