U.S. based oil corps are exporting record amounts of gasoline [View All]

[SHRED]

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Again, for anyone to think it's "our" oil is living in a simplistic and ignorant dream.
More proof that the rhetoric coming from this petroleum-based administration and McCane of "drill, drill, drill", as a way to benefit the American people, is simply nonsense in the context of the world oil market.

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As Oil Firms Seek Drilling Access, Exports Set Record
By Reuters
Reuters
| 03 Jul 2008 | 03:23 PM ET

While the U.S. oil industry wants access to more federal lands to help reduce reliance on foreign suppliers, U.S.-based companies are shipping record amounts of gasoline and diesel fuel to other countries.

A record 1.6 million barrels a day in U.S. refined petroleum products were exported during the first four months of this year, up 33 percent from 1.2 million barrels a day over the same period in 2007. Shipments this February topped 1.8 million barrels a day for the first time during any month, according to final numbers from the Energy Department.

The surge in exports appears to contradict the pleas from the U.S. oil industry and the Bush administration for Congress to open more offshore waters and Alaska's Arctic National Wildlife Refuge to drilling.

"We can help alleviate shortages by drilling for oil and gas in our own country," President Bush told reporters this week. "We have got the opportunity to find more crude oil here at home."

http://www.cnbc.com/id/25518912


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