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U.S. petroleum product exports exceeded imports

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DCRocks User avatar
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I find this very interesting, and it certainly is going to change the playing field in both economics and politics around the world.

U.S. petroleum product exports exceeded imports in 2011 for first time in over six decades

The United States in 2011 exported more petroleum products, on an annual basis, than it imported for the first time since 1949, but American refiners still imported large, although declining, amounts of crude oil, according to full-year trade data from EIA's Petroleum Supply Monthly February report. The increase in foreign purchases of distillate fuel contributed the most to the United States becoming a net exporter of petroleum products.

U.S. petroleum product net exports (exports minus imports) averaged 0.44 million barrels per day (bbl/d) in 2011, with imports at a nine-year low of close to 2.4 million bbl/d and exports at a record high of nearly 2.9 million bbl/d. The gap between exports and imports widened the most during the second half of the year from August through December (see charts below), with total monthly exports topping 3 million bbl/d for the first time.
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magpie User avatar
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DCRocks wrote:
I find this very interesting, and it certainly is going to change the playing field in both economics and politics around the world.

U.S. petroleum product exports exceeded imports in 2011 for first time in over six decades

The United States in 2011 exported more petroleum products, on an annual basis, than it imported for the first time since 1949, but American refiners still imported large, although declining, amounts of crude oil, according to full-year trade data from EIA's Petroleum Supply Monthly February report. The increase in foreign purchases of distillate fuel contributed the most to the United States becoming a net exporter of petroleum products.

U.S. petroleum product net exports (exports minus imports) averaged 0.44 million barrels per day (bbl/d) in 2011, with imports at a nine-year low of close to 2.4 million bbl/d and exports at a record high of nearly 2.9 million bbl/d. The gap between exports and imports widened the most during the second half of the year from August through December (see charts below), with total monthly exports topping 3 million bbl/d for the first time.

any reason/s for this DC?. ie have they been using more of the oil reserve thatn usual? Less use of some oil products in manufacturing? If so then any gains in balance of payments may be offset by cost of imported goods.
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DCRocks User avatar
Grand Duke
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magpie wrote:
any reason/s for this DC?


Seems to be a combo of several things...

The price of oil has increased to the point that many places it was not worth it to pull oil from, are now profitable is one of the biggest, but there are several others....

magpie wrote:
have they been using more of the oil reserve thatn usual?


I do not think this is the case, here is a list of known withdraws:

http://en.wikipedia.org/wiki/Strategic_ ... #Drawdowns

magpie wrote:
Less use of some oil products in manufacturing?


Possible, Americans have actually reduced our gas consumption, via both higher gas mileage and less driving/ consumption due to the economy

magpie wrote:
If so then any gains in balance of payments may be offset by cost of imported goods.


IMO, I feel this change in balance is kinda the way the trend is headed, and will only increase as the US gets more gas efficient, more green, and expands the availability of our own fuel resources.\

Anytime the average gas price gets above $4 a gallon, Americans start getting real gas efficient, and as it has been hovering between $3.50 and $4 for a while now, new tech has been able to maintain a real push, almost enough to maintain its momentum gong forward...
“If we don't believe in freedom of expression for people we despise, we don't believe in it at all.”

You have Enemies? Good. It means you've stood up for something in your life.

DCRocks User avatar
Grand Duke
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Posts: 763
Location: Washington DC
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Yes indeed change is coming. Few things will have a larger ability to reshape world politics, than the US being able to deal w/o Middle East Oil

[url]U.S. to become world's largest oil producer before 2020, IEA says[/url]

The U.S. will become the world’s top producer of oil within five years, a net exporter of the fuel around 2030 and nearly self-sufficient in energy by 2035, according to a new report from the International Energy Agency.

It’s a bold set of predictions for a nation that currently imports some 20% of its energy needs.

Recently, however, an “energy renaissance” in the U.S. has caused a boost in oil, shale gas and bio-energy production due to new technologies such as hydraulic fracturing, or fracking. Fuel efficiency has improved in the transportation sector. The clean energy industry has seen an influx of solar and wind efforts.

By 2015, U.S. oil production is expected to rise to 10 million barrels per day before increasing to 11.1 million bpd by 2020, overtaking second-place Russia and front-runner Saudi Arabia. The U.S. will export more oil than it brings into the country in 2030.
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You have Enemies? Good. It means you've stood up for something in your life.


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