Is the US stealing oil from the Middle East?

One of the recurring themes of Donald Trump's national security strategy is his plan to “take the oil” in Iraq and from areas controlled by Islamic State (Isis) extremists. It would drain Isis's coffers and reimburse the US for the costs of its military commitments in the Middle East, the candidate insists. read more

American companies negotiated with rulers in the Middle East to find, obtain and produce oil. Some of these companies have been purchased back by the nations that they originally worked with. read more

No, the US is not stealing oil from the Middle East, it is buying it, and it is paying the OPEC price to the oil producing countries in the Middle East. At this point in time, due the magic of hydraulic fracturing (“fracking”) the US is producing more of its own oil cheaper than it can buy it from OPEC, so American oil production is reaching an all-time high. read more

In 1973, foreign oil accounted for 35 percent of total U.S. oil demand. By 2010, the figure had risen to 63 percent, and Arab OPEC countries accounted in 2010 for 22 percent of U.S. imports (with non-Arab countries Angola, Venezuela, Ecuador and Nigeria, the figure is 42 percent). read more