Rising oil imports widened our deficit, increasing the gap between our imports and exports.
In 2008 the United States imported oil from 10 countries currently on the State Department’s Travel Warning List, which lists countries that have “long-term, protracted conditions that make a country dangerous or unstable.” These nations include Algeria, Chad, Colombia, the Democratic Republic of the Congo, Iraq, Mauritania, Nigeria, Pakistan, Saudi Arabia, and Syria. Our reliance on oil from these countries could have serious implications for our national security, economy, and environment.
According to the U.S. Energy Information Administration's November 2013 report, the United States produced an average of 7.8 million barrels of oil per day in October and imported 7.5 million barrels of oil per day. The U.S. now produces more oil than it imports for first time in nearly 20 years. The oil business has created more than 8 million new jobs since 2008. We are committed to helping create more U.S. jobs.