It's pretty common knowledge - especially if you're the type to regularly visit sites such as AutoblogGreen and its ilk - that it's simply cheaper to drive a mile on electrical power than on gasoline. We also know that it is inefficient to convert oil sands into usable fuel relative to other sources of oil. Yet the demand for gasoline remains high, mining the tar sands of Canada remains profitable and it has also undeniably created a lot of jobs, so that petroleum is coming out of the ground.
U.S. oil production peaked in 1970; U.S. oil consumption did not. As a logical result, the importation of oil from other countries has increased over the decades until it accounted for two thirds of the petroleum used in the United States in 2008. However, that rise has not been steady. Several times over the years there have been periods when imports held steady – or even declined – and, according to an article in the Kansas City Star, one of those times is now. In 2010, U.S. oil im