US shale oil has so far replaced 2 mb/d of its crude oil imports which peaked at around 10 mb/d in 2005. If this effort can be doubled the US would still need to import around 6 mb/d. US crude oil imports vs production History: US crude imports skyrocketed in the early 1970s after the US peak. High oil prices as a result of the 1 st and 2 nd  oil crises in 1973 and 1979 triggered a recession and therefore a drop in oil demand and a reduction in crude oil imports. After Alaska’s peak crude imports increased again until the 3 rd  oil crisis which started in 2005. Despite the shale oil boom which began in serious in 2011, the US still imports around 2 mb/d (25%) from the Persian Gulf and 3.5 mb/d (44%) from OPEC. So there would […]