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The role of transnational companies as oil suppliers to the United States

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  • Palazuelos, Enrique

Abstract

This paper analyzes the extent to which the international oil production of transnational companies meets the oil requirements of the United States. Disaggregated data from each company have been used to determine which companies (refineries) are importing crude oil, how much oil each transnational company is produced abroad, and where this production goes to. The analysis show that American international oil production represents a small part of U.S. oil imports. Two conclusions are reached. The first is that U.S. refineries buy the majority of the crude oil they process on the international market and, as a result, are dependent on the unstable conditions of this market. The second is that the economic interests the large American oil companies have abroad are far greater than those they have within the United States and, as a result, these companies do not play a decisive role in a national strategy to guarantee foreign supply.

Suggested Citation

  • Palazuelos, Enrique, 2010. "The role of transnational companies as oil suppliers to the United States," Energy Policy, Elsevier, vol. 38(8), pages 4064-4075, August.
    • Handle: RePEc:eee:enepol:v:38:y:2010:i:8:p:4064-4075
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    References listed on IDEAS

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    1. Gawdat Bahgat, 2007. "Africa's oil: potential and implications," OPEC Energy Review, Organization of the Petroleum Exporting Countries, vol. 31(2), pages 91-104, June.
    2. Hossein Askari & Amin Mohseni & Shahrzad Daneshvar, 2009. "The Militarization of the Persian Gulf," Books, Edward Elgar Publishing, number 12945.
    3. Sadek Boussena & Catherine Locatelli, 2008. "The bases of a new organisation of the Russian oil sector: between private and State," Working Papers halshs-00003938, HAL.
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    Cited by:

    1. Palazuelos, Enrique & Fernández, Rafael, 2012. "The importance of transnational corporations in the supply of oil to Europe: Implications," Energy Policy, Elsevier, vol. 47(C), pages 270-281.

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