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Price of Gas in U.S. Rises as Refiners Export More to Other Countries
WSJ ^ | 21 April 2014 | Nicole Friedman

Posted on 04/22/2014 12:36:23 PM PDT by Theoria

Drivers in the U.S. are facing rising gasoline prices ahead of summer-vacation season, just as refiners here are shipping more gas to other countries.

A new pipeline, built to release a glut of crude oil that was stuck in the middle of the country, is now feeding oil to refineries on the Gulf Coast that churn out gasoline and diesel. While these fuels still make their way to the Southeast and the East Coast, growing amounts are being sold to Mexico, the Netherlands, Brazil and other countries.

The push into these markets has been spurred by the U.S. oil boom. Rising oil output had been flooding the nation's oil market in recent years, keeping U.S. crude prices low relative to world prices. Facing tepid fuel demand in the U.S., refiners have been ramping up exports, creating more global competition for U.S.-produced fuel.

While the construction of pipelines and other transportation infrastructure allows other countries to benefit from the oil boom, it also means the market for motor fuels has become more competitive. The gasoline market now has to reckon with demand from other countries—and the potential impact on prices—during a U.S. economic recovery many economists see as fragile.

"Quite frankly, this is not just a U.S.-centric topic anymore," said Nancy White, a spokeswoman for motor club AAA. "Production is going overseas, so that impacts the supply here, and that will drive prices up."

Gasoline stockpiles nationwide are at their lowest point for this time of year since 2011, according to the U.S. Energy Information Administration. Meantime, the retail price for a gallon of regular gasoline averaged $3.68 on Monday, up 4.2% from a year ago, according to the EIA. That is the highest price since March 2013. AAA had the average price on Monday at $3.67.

(Excerpt) Read more at online.wsj.com ...


TOPICS: Business/Economy; Culture/Society; Foreign Affairs
KEYWORDS: economy; exports; federalland; federallandmap; gas; gasoline; gasolineexports; pipeline
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To: Beagle8U

Is there an oil shortage?

Why do you advocate government price controls?


41 posted on 04/22/2014 1:48:49 PM PDT by Oliviaforever
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To: Theoria

How about adding a hefty tariff against all oil products sold outside this nation? The money earned should then be earmarked to debt reduction. No earmarks.


42 posted on 04/22/2014 1:49:10 PM PDT by Alas Babylon!
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To: JRandomFreeper

There would be plenty of gas. US production is at all time highs.


43 posted on 04/22/2014 1:49:31 PM PDT by Beagle8U (Unions are an Affirmative Action program for Slackers! .)
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To: Theoria
My Gawd, man, don't you know driving up energy prices for US citizens is critical to stopping the rising of the seas and bringing the Unicorn back from extinction? (sarc)
44 posted on 04/22/2014 1:50:30 PM PDT by Rashputin (Jesus Christ doesn't evacuate His troops, He leads them to victory.)
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To: Beagle8U
There's plenty of oil in Venezuela, too, and cattle. But when the government nationalized those industries, the products dried up.

It happens every time socialists try to nationalize something.

/johnny

45 posted on 04/22/2014 1:51:31 PM PDT by JRandomFreeper (Gone Galt)
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To: Oliviaforever

I didn’t say anything about price controls, just exports of oil off public land while we are being hosed on prices.

Sell it here for all the market will bear, no price controls.


46 posted on 04/22/2014 1:52:51 PM PDT by Beagle8U (Unions are an Affirmative Action program for Slackers! .)
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To: Oliviaforever

So, even if Keystone is approved, even if we drill more oil, we’ll still be paying out the wazoo for fuel. We could still see shortages if fuel is exported for the highest price. Isn’t that what Stalin did in the 1930s with food? Why should we approve these things then? The left would use this as an argument that free markets don’t work.


47 posted on 04/22/2014 1:53:28 PM PDT by virgil (The evil that men do lives after them)
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To: Oliviaforever
People just don't understand.

Nationalization and price controls are socialist tools and ideas.

/johnny

48 posted on 04/22/2014 1:53:52 PM PDT by JRandomFreeper (Gone Galt)
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To: Alas Babylon!

Who pays the tariff, the producer or buyer?


49 posted on 04/22/2014 1:54:18 PM PDT by nascarnation (Toxic Baraq Syndrome: hopefully infecting a Dem candidate near you)
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To: JRandomFreeper

You and oliver are the only ones talking about price controls.


50 posted on 04/22/2014 1:56:43 PM PDT by Beagle8U (Unions are an Affirmative Action program for Slackers! .)
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To: Theoria

While Southern California (San Diego) drivers are hard pressed to find gas under $4.09/gallon.


51 posted on 04/22/2014 1:57:51 PM PDT by luvbach1 (We are finished. It will just take a while before everyone realizes it.)
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To: nascarnation

Buyer, absolutely. We need to improve our trade imbalances, too.

Look, American oil might be the biggest bargain anywhere. Don’t change it too much, but right now, we’re not getting anything for it... OK, I do not know if we already have a tariff...

But obviously, if they’re flocking to our shores to buy the stuff, raising the tariff and earmarking it for debt reduction still helps us in many ways. Lower debt, more stability. More stability, more the dollars is valued. More the dollar is valued, our own money goes farther. Lower debt also means lower taxes. Lower taxes means we can afford higher gas prices.


52 posted on 04/22/2014 2:01:34 PM PDT by Alas Babylon!
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To: luvbach1

Cali is the second highest state for gasoline taxes.

That plus the “gaia friendly” blends mandated certainly drives up the pricing.

http://taxfoundation.org/article/state-gasoline-tax-rates-2009-2013


53 posted on 04/22/2014 2:01:43 PM PDT by nascarnation (Toxic Baraq Syndrome: hopefully infecting a Dem candidate near you)
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To: Theoria
"The push into these markets has been spurred by the U.S. oil boom. Rising oil output had been flooding the nation's oil market in recent years,..."

Propaganda. The U.S.A. consumes less oil ("2013"..."an average of 18.89 million barrels per day") than it did a few years ago (around 20 million barrels per day) due to the economic decline. The U.S. continues to consume more than it produces ("2013"..."7,441,000" barrels per day).


54 posted on 04/22/2014 2:01:59 PM PDT by familyop (We Baby Boomers are croaking in an avalanche of corruption smelled around the planet.)
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To: Cheerio

Unfortunately I also remember when my kids were teenagers and we filled their cars and mine every Monday morning at a cist if slightly less than $20, providing we were in the midst of a gas war when it was $.19 a gallon instead of $.25 a gallon.


55 posted on 04/22/2014 2:03:15 PM PDT by Grams A (The Sun will rise in the East in the morning and God is still on his throne.)
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To: Alas Babylon!

I don’t understand why Fritz Oilbuyer in Germany would pay for US oil at world price + a tariff when he can get oil from Iraq or Saudi Arabia at the world price.


56 posted on 04/22/2014 2:03:21 PM PDT by nascarnation (Toxic Baraq Syndrome: hopefully infecting a Dem candidate near you)
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To: servantboy777
You traitor b@$t@rds!

What's that got to do with it? They sell to the highest bidder. Which is the point you're missing: the prices are HIGHER IN OTHER COUNTRIES.

So our gas is cheap by comparison!

57 posted on 04/22/2014 2:03:49 PM PDT by Da Bilge Troll (Defeatism is not a winning strategy!)
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To: Theoria

As more Americans are unemployed, fewer need as much fuel. Foreign governments are willing to buy products refined from oil for their strategic reserves and manufacturing economies. When our default process is further along, we won’t need much fuel at all.


58 posted on 04/22/2014 2:07:53 PM PDT by familyop (We Baby Boomers are croaking in an avalanche of corruption smelled around the planet.)
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To: Alas Babylon!
How about adding a hefty tariff against all oil products sold outside this nation?

A market is a market. It makes no difference in a free market where the oil goes. That is, until economically ignorant busybodies start interfering with the market with ill-conceived tariffs, taxes and regulations which drive up the price even higher in the home country.

59 posted on 04/22/2014 2:08:12 PM PDT by Da Bilge Troll (Defeatism is not a winning strategy!)
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To: central_va

Yep. RandY Paul supporters.


60 posted on 04/22/2014 2:11:26 PM PDT by subterfuge (CBS NBC ABC FOX AP-- all no different than Pravda.)
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