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How we became a net petroleum exporter again
Hot Air ^ | 12/19/11 | Jazz Shaw

Posted on 12/19/2011 8:47:09 AM PST by Nachum

This one will probably come as a surprise to many of you. Despite the best (read: worst) efforts of the Obama administration and the counter-intuitive nature of what you’re paying for gas and heating bills this winter, the United States is on track to be a net exporter of petroleum products for the first time in more than half a century.

The U.S. exported more oil-based fuels than it imported in the first nine months of this year, making it likely that 2011 will be the first time since 1949 that the nation is a net exporter of such goods, primarily diesel.

That’s not all. The U.S. has reversed another decades-long trend. It began producing more crude oil in 2008 than the year before and accelerated that upswing 3% in the first nine months of this year compared with the same period in 2010. That production has helped reduce U.S. imports of crude oil by about 10% since 2006.

(Excerpt) Read more at hotair.com ...


TOPICS: News/Current Events
KEYWORDS: energy; exporter; net; petroleum; refinery
The ingenuity of my fellow Americans never fails to impress.
1 posted on 12/19/2011 8:47:17 AM PST by Nachum
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, Ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/


2 posted on 12/19/2011 8:48:28 AM PST by Nachum (The complete Obama list at www.nachumlist.com)
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To: Nachum

One problem here is that we did not become a “net petroleum exporter”. We are exporting refined products. “Net” we are still a major importer and we still even import a significant quantity of refined products.


3 posted on 12/19/2011 8:51:50 AM PST by GulfBreeze
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To: Nachum

Then why is the price of fuel still so high?


4 posted on 12/19/2011 8:52:13 AM PST by Obadiah (If U don't believe you can win, then there is no point in getting out of bed at the end of the day.)
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To: Nachum

Just in time too. Mexican oil production is going to enter free-fall in the next few years.


5 posted on 12/19/2011 8:52:42 AM PST by JerseyanExile
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To: stevie_d_64; thackney

ping


6 posted on 12/19/2011 8:56:01 AM PST by GulfBreeze
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To: GulfBreeze
One problem here is that we did not become a “net petroleum exporter”. We are exporting refined products. “Net” we are still a major importer and we still even import a significant quantity of refined products.

That is correct. We import raw petroleum and export products like gasoline. Bottom line: we're still a net importer.

Drill Baby, Drill.
Drill Here, Drill Now.

7 posted on 12/19/2011 8:56:29 AM PST by InterceptPoint (TIN)
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To: Obadiah
Then why is the price of fuel still so high?

Because we do not increase refining capacity. Also, it takes a while for the price of gas to catch up to an oil glut. -Prices are stabilizing, but not the ratio of refining to oil still lags.

8 posted on 12/19/2011 8:56:59 AM PST by Nachum (The complete Obama list at www.nachumlist.com)
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To: Nachum

Okay, then, build the Keystone XL Pipeline and add a few more refineries!


9 posted on 12/19/2011 9:00:36 AM PST by Obadiah (If U don't believe you can win, then there is no point in getting out of bed at the end of the day.)
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To: Nachum

The data on the oil industry around the world reveals that muslim oil has decreased greatly in geo-political significance. It still is significant, but there are many oil producing nations and no one nation has any sort of “stranglehold” on the world.

Far and away the biggest problem in the world for stability and sovereignty of nations right now is an off-the-charts and ever-expanding debt bubble.

The finances of governments and large private-sector, publicly-held financial institutions - as well as currency exchange rates - and the impact they have on purchasing power, as well as developing nations bidding up the price of food and fuel around the world is the driving factor in fuel prices.

The oil sheikh boogyman is sometimes trotted out by politicians to gain Republican support, but it’s a fake.

The boogyman sheikh that seeks to kill us no matter how many of his own people die, on the other hand, that boogyman is quite real.


10 posted on 12/19/2011 9:06:04 AM PST by PieterCasparzen (We have to fix things ourselves.)
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To: PieterCasparzen

-——The boogyman sheikh that seeks to kill us no matter how many of his own people die, on the other hand, that boogyman is quite real.-——

Actually, it is paranoia, irrational paranoia


11 posted on 12/19/2011 9:08:41 AM PST by bert (K.E. N.P. +12 ..... Crucifixion is coming)
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To: Nachum; Obadiah
refining capacity

Yep, that's why the pipeline is a no-brainer,right ?

I would think that if the Executive branch was not purposely blocking it, Congress would not even have to act, but I'm no expert. Under normal circumstances (an American President that is actually on the side of America), I would think it would just go through the normal process Federally and locally and just get built.

We knew this was the most efficient transport back in the 1800's.

Obama is effectively shooting American in the head - and on purpose.
12 posted on 12/19/2011 9:11:34 AM PST by PieterCasparzen (We have to fix things ourselves.)
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To: Obadiah

Because the price of oil reflects the global market to a large degree - world oil output might be increasing, but so is demand, especially as we see the rise of the developing world, and nations like China and India see large increases in domestic oil consumption.


13 posted on 12/19/2011 9:11:42 AM PST by JerseyanExile
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To: JerseyanExile
Mexican oil production is going to enter free-fall in the next few years.

They could probably increase their production too, if it were opened up to the free market.

14 posted on 12/19/2011 9:20:22 AM PST by smokingfrog ( sleep with one eye open ( <o> ---)
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To: PieterCasparzen; Nachum; Obadiah

Nope. Sorry. Incorrect.

We are exporting refined products which is to say we have excess refining capacity compared to our user needs. Gas prices are high because oil prices are high and oil prices are high because it is a fungible product with worldwide demand that is higher than the demand of other goods and services.

One thing that makes US gas prices higher than the need to be is CAFE standards which require retooling or readjusting refineries for a myriad of output products that are used all over. (Unleaded is not the same everywhere you buy it in the US).


15 posted on 12/19/2011 9:25:52 AM PST by GulfBreeze
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To: Obadiah

Is the Keystone XL pipeline going to be built or not?

There haven’t been any refineries built in the US since 1976 due to too many regs being imposed by the enviro-nuts.


16 posted on 12/19/2011 9:26:09 AM PST by Jack Hydrazine (It's the end of the world as we know it and I feel fine!)
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To: PieterCasparzen
But we do need the pipeline. That is a nobrainer. We have the ability to refine far more oil than we currently are doing and we are exporting the excess which ads to US jobs and economy.

The only thing keeping us from refining and exporting more oil is the supply of crude at good prices from home or from generally acceptable allied nations.

1)Drill baby drill: Yes!!!
@) Build baby build (the pipeline): Yes!!!

Besides pipe lines are vastly “greener” than trucking or any other form of transport. The greenies just hate jobs, progress and ending human suffering. The pagan druids have always been a hateful and cruel bunch. They are no less hateful and cruel when they cal themselves ‘environmentalists’. Just another false religion.

17 posted on 12/19/2011 9:32:12 AM PST by GulfBreeze
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To: smokingfrog

The problem is that for decades, Mexico City has been using oil revenue as a way to fund the federal government, and they haven’t been pouring back any real amount of the profits into modernizing equipment, R&D, ect. Pemex hasn’t been investing for the long term, and they’re beginning to pay the price. The federal government of Mexico gets close to 40% of revenue from Pemex. If you think things are bad down there now...


18 posted on 12/19/2011 9:33:07 AM PST by JerseyanExile
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To: Nachum

We are not a net exporter of oil, just some of it’s products. We still import more oil than we consume domestically.


19 posted on 12/19/2011 9:47:24 AM PST by Lorianne
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To: JerseyanExile

Venezuela under Chavez has the same sorts of problems as well. Which is another reason to build Keystone, in order to ensure raw material for the Gulf refineries currently refining Venezuelan oil.


20 posted on 12/19/2011 10:09:59 AM PST by FreedomPoster (Islam delenda est)
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To: JerseyanExile

Until recently Mexico wouldn’t allow foreign partners into their government oil monopoly hence oil recovery, from a lack of technology, suffered. That is slowly changing as Mexico pumped the easy oil out of the ground but needs help getting the 80% left behind out of existing wells. That will take time to get up to speed.


21 posted on 12/19/2011 10:19:36 AM PST by Razzz42
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To: Nachum
Because we do not increase refining capacity.

We have plenty of refining capacity and this shows it. More product comes out of our refineries than we use. That is how we became a net refined products exporter.

That was accomplished by a couple of items, including lots of refinery expansions and upgrades that inspite of building no new refineries and closing some of the less productive ones, we still expanded our total capabilities.


22 posted on 12/19/2011 10:30:19 AM PST by thackney (life is fragile, handle with prayer)
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To: GulfBreeze
One thing that makes US gas prices higher than the need to be is CAFE standards which require retooling or readjusting refineries for a myriad of output products that are used all over. (Unleaded is not the same everywhere you buy it in the US).

Glad I decided to read down the thread before replying

This is a biggie, as it creates artificial scarcity where there should be none, and drives up the cost of product because of the need to have so many different blends of gasoline in various parts of the country. Without the EPA (and congress) demanding this insanity, we'd probably havbe 5 or 6 blends that would be in use over most of the country. Prices would be lower and more uniform across the country.

23 posted on 12/19/2011 6:46:27 PM PST by zeugma (Those of us who work for a living are outnumbered by those who vote for a living.)
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