U.S. Dependency on Imported Oil to Deepen
NEW YORK (Reuters) - U.S. dependence on foreign crude will keep growing despite efforts to spur domestic production, as demand in the world's largest energy consumer outpaces output, industry and government experts said Tuesday.
The rising need for oil shipments to the nation's ports could even hit a level soon that foreign crude producers might have a hard time matching -- translating into likely declines in the nation's stockpiles.
"The longer-term trend points to increasing imports and increasing reliance on imports," said Doug MacIntyre, analyst for the U.S. Energy Information Administration, the statistical wing of the Department of Energy.
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