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| Posted: Fri Dec 30th, 2011 09:46 pm |
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1st Post |
Bob Of Burleson
...And the smell of gunsmoke
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In a first, gas and other fuels
are top US export
By CHRIS KAHN
NEW YORK (AP) - For the first time, the top export of the United States, the world's biggest gas guzzler, is - wait for it - fuel.
Measured in dollars, the nation is on pace this year to ship more gasoline, diesel, and jet fuel than any other single export, according to U.S. Census data going back to 1990. It will also be the first year in more than 60 that America has been a net exporter of these fuels.
Just how big of a shift is this? A decade ago, fuel wasn't even among the top 25 exports. And for the last five years, America's top export was aircraft.
The trend is significant because for decades the U.S. has relied on huge imports of fuel from Europe in order to meet demand. It only reinforced the image of America as an energy hog. And up until a few years ago, whenever gasoline prices climbed, there were complaints in Congress that U.S. refiners were not growing quickly enough to satisfy domestic demand; that controversy would appear to be over.
Still, the U.S. is nowhere close to energy independence. America is still the world's largest importer of crude oil. From January to October, the country imported 2.7 billion barrels of oil worth roughly $280 billion.
MORE
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| Posted: Sat Dec 31st, 2011 01:54 am |
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2nd Post |
dooley
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Where do we ship all this fuel?
Who are our customers?
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| Posted: Sat Dec 31st, 2011 02:32 am |
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3rd Post |
Bob Of Burleson
...And the smell of gunsmoke
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US exports record amount
of refined fuels
By Ronald D. White | McClatchy Tribune Newswire
U.S. refineries exported a record amount of refined fuels in 2011 to markets in South America, Central America and Europe.
It was one reason why Americans spent a record amount on gasoline this year: Supplies that might have helped lower prices here had been shipped abroad.
In 2007, U.S. exports of all kinds of fuel held steady throughout the year at 1.24 million to 1.25 million barrels a day, according to Energy Department statistics. But by 2011, exports of diesel, gasoline and other products surged. In November and December, U.S. fuel exports averaged between 2.77 million barrels a day and 2.89 million barrels a day, the highest ever.
Meanwhile, U.S. drivers paid an average of about $3.50 a gallon for gasoline during the year, also the highest ever. Nationally, the average cost for a gallon of regular Friday was $3.269, or 19.8 cents a gallon more than ever on a Dec. 30, according to the AAA Fuel Gauge Report.
The trend was predicted as early as last January, when two analysts with the Energy Department's Energy Information Administration delivered a presentation to the 2011 Argus Americas Crude Summit in Houston.
Read more here: http://www.mcclatchydc.com/2011/12/30/134516/us-exports-record-amount-of-refined.html#storylink=cpy
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| Posted: Sat Dec 31st, 2011 03:37 am |
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4th Post |
John in Plano
Member
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dooley wrote: Where do we ship all this fuel?
Who are our customers?
this is from the first link...notice that it shows exports have increased from 10 years ago. My take.....Refined products are a commodity, just like crude. Currency exchange rates, refining capacity ( yea some say we don't have enough) shipping costs, reduced demand are factors that allow US companies to profitably export refined product.
The volume of fuel exports is rising. The U.S. is using less fuel because of a weak economy and more efficient cars and trucks. That allows refiners to sell more fuel to rapidly growing economies in Latin America, for example. In 2011, U.S. refiners exported 117 million gallons per day of gasoline, diesel, jet fuel and other petroleum products, up from 40 million gallons per day a decade earlier.
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