US Fuel Exports Expected to DOUBLE by 2015

[toddwv]

As fuel prices rise, the right-wing is using it to gain political leverage against President Obama. In addition, higher fuel prices increase the costs of pretty much everything else and experts keep warning that high fuel prices could significantly dampen economic progress or even possibly cause another recession.

http://www.bloomberg.com/news/2012-03-12/u-s-fuel-exports-to-double-by-2015-wood-mackenzie-forecasts.html

U.S. Fuel Exports to Double by 2015, Wood Mackenzie Forecasts
By Lynn Doan and Bradley Olson - Mar 12, 2012 7:47 PM ET

U.S. exports of gasoline, diesel and other fuels will more than double in the next three years as refiners take advantage of a growing supply of domestic crudes and ship more fuel to emerging markets, according to research firm Wood Mackenzie Ltd.

Exports will rise by 450,000 barrels a day by 2015 as domestic demand shrinks and more products are sent to Latin America, Africa and other regions where fuel use is increasing, Alan Gelder, head of downstream consulting at Edinburgh-based Wood Mackenzie, said during a presentation at an American Fuel and Petrochemical Manufacturers conference in San Diego.

The U.S. exported more gasoline, diesel and other fuels than it imported in 2011 for the first time since 1949 as sales in North America contracted and consumption in regions like Latin America climbed, the Energy Department said Feb. 29. Shipments abroad of petroleum products exceeded imports by 439,000 barrels a day last year, the department said.

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[Old and In the Way]

1. "drill baby drill"

to "export baby export "

We're having a going out of business sale. All natural resources for sale to highest bidder. Make an offer.

[Loudmxr]

2. I find this hard to believe 42% to 84% export??

Now I do not have a second source on this but from what I understand we export 42% of our refined fuels.

Almost as much as we exported in the late mid 1940's .... WHEN WE WERE FIGHTING TWO WARS TO THE EAST AND WEST!!!

You DUers know the stats. This R thing is such BS.

Let's shut down exports and keep the fuels for ourselves.



Yeah like that is going to happen!!!

[djean111]

3. Yes. The irony fairly drips, but if Obama would nationalize oil,

set and subsidize oil and gas prices, and keep our oil out of the world market, then we could see lower prices at the pump. The howling about free markets would be deafening. Ask the Wall Street speculators if they want to see lower prices at the pump. And pretty soon Americans will be using less gas because they can't afford it.

[belcffub]

4. I doubt we would see any real change

If we kept all of our oil domestic they would just import less. There would be little net difference except that we would not be producing the refined products for export and employing people in those industries.

[sudopod]

6. lol nt

[toddwv]

5. Exactly the point.

Oil production is up over the past 10 years.
We are exporting gas.

All "drill baby, drill" does is put more money in the oil company's pockets. It does NOTHING to lower the cost at the pump.