US Won’t See Oil Independence For a While, Analysts Say

Globe and Mail reported that according to analysts at Canada’s Desjardins Bank the United States is unlikely to see its “oil independence” bey 2020. The bank’s analysts believe that it stands to reason the reality of the “long march to crude oil independence” is one that cannot be measured in years, but in decades.

Desjardins analysts are quoted stating:

With flat to modestly declining consumption levels, U.S. crude oil imports appear set to decrease sharply in the upcoming years – a scenario which should provide a convenient sound bite for politicians, while raising a note of caution for traditional suppliers to the vast U.S. market, including Canada.

Click here to view the full Globe and Mail report.