Latin oil supplies for U.S. start to dry up - Washington Times

Latin oil supplies for U.S. start to dry up - Washington Times: But oil production south of the border has fallen off dramatically, and Canadian crude in recent years quietly overtook imports from Mexico, Venezuela and even Saudi Arabia to become the most important outside source of oil for the U.S.

The trend toward replacing unstable sources of oil in Latin America and the Middle East with reliable and friendly sources in Canada was heartily welcomed in political circles until the pipeline controversy broke out last year. After trying to delay a decision until after the presidential election, the White House agreed in a compromise with congressional Republicans to determine within the next two months whether to proceed with the pipeline.

Because nearly all of Canada’s production will come from the Alberta tar sands served by the Keystone pipeline, energy analysts say, the pipeline extension will be needed to ensure that promising trend continues and that the U.S. does not go back to relying inordinately on unstable and hostile suppliers.