There have been so many milestones during the Great American Shale Boom that some occasionally fall through the cracks.
Like this one from Morgan Stanley’s Adam Longson: refineries in the Midwest have basically stopped using oil imported from the Middle East.
Of the 2 million barrels a day processed by the so-called PADD 2 district, 98.3% now come from Canada, and the rest basically from Saudi Arabia, according to the EIA.
A decade ago, it was 69% Canadian, 13% Saudi, and the rest from other OPEC nations. Here’s the chart:
And here’s the map showing the different PADD districts:
Longson says that the Gulf Coast district is still somewhat reliant on Saudi crude, though even here the figures are down.
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