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 ...
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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.
Then why is the price of fuel still so high?
Just in time too. Mexican oil production is going to enter free-fall in the next few years.
ping
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.
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.
Okay, then, build the Keystone XL Pipeline and add a few more refineries!
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.
-——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
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.
They could probably increase their production too, if it were opened up to the free market.
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).
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.
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.
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...
We are not a net exporter of oil, just some of it’s products. We still import more oil than we consume domestically.
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.
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