Reacting to recent sanctions and counter-sanctions imposed on/from Russia by/on NATO countries, Elon Musk, CEO of Tesla and SpaceX took to his Twitter handle to decry the need for the US to increase domestic output of oil and gas.
See Tweet below;
Further commenting on the post, Musk, a strong critic of non-renewable energy, stated that the current progress in sustainable energy is not enough to contain the huge imbalance that will be created by the move to become independent of Russian oil and gas.
See Tweet Below;
How Much Oil Does The US Import From Russia?
The US currently imports about 8% of Russian oil and refined products, or about 672,000 barrels a day which is equivalent to $50,000,000 per day at an average trading price of 80$/Barrel. This is merely less than 3% of the US Annual crude import.
Who Buys The Bulk Of Russian Oil and Gas?
Yes Russia is a huge energy supplier for a lot of Asian and European countries. These countries make up the bulk of the buyer’s of Russian oil and gas. China is the highest importer of Russian oil and gas at 23.8 Billion Dollars worth of import as of last year. Netherland, Germany, South Korea, Poland, Italy, Belarus, Finland, Slovakia also buy Billions of Dollars worth of oil and gas from Russia per annum.