+ Reply to Thread
Results 1 to 4 of 4
Dec 5th, 2011 11:25 AM #1
The new big U.S. export- Gasoline
The U.S. is on track this year to be a net exporter of gasoline for the first time in 62 years.
Wall Street Journal:
...That the U.S. is shipping out more fuel than it brings in is significant because the nation has for decades been a voracious energy consumer. It took in huge quantities of not only crude oil from the Middle East but also refined fuels from Europe, Latin America and elsewhere to help run its factories and cars.
As recently as 2005, the U.S. imported nearly 900 million barrels more of petroleum products than it exported. Since then the deficit has been steadily shrinking until finally disappearing last fall, and analysts say the country will not lose its "net exporter" tag anytime soon.
"It looks like a trend that could stay in place for the rest of the decade," said Dave Ernsberger, global director of oil at Platts, which tracks energy markets. "The conventional wisdom is that U.S. is this giant black hole sucking in energy from around the world. This changes that dynamic."
So long as the U.S. remains the world's biggest net importer of crude oil, currently taking in nine million barrels per day, it isn't likely to become energy independent anytime soon. Yet its growing presence as an overall exporter of fuels made from crude gives it greater influence in the global energy market.
If the trend toward net exports persists, it could also influence the national political debate over U.S. energy policy, which has been driven primarily by concerns about upheaval in the Middle East over the past decade..."The Alice-in-Wonderland nature of this pronouncement is not lost on me..."
Dec 6th, 2011 8:46 AM #2
This is an extremely important story.
One of the ways that the U.S. originally became powerful was oil. We gave that up, and our main contribution to the planet has been food (breadbasket of the world).
I'm not that crazy about oil consumption, but this is a step in the right direction, and will alter the world economic dynamics.
It will also make it easier for the U.S. to look into alternative fuel options.Poetry is superior to history -Aristotle
True time is four dimensional -Heidegger
All the world's a stage, and all the men and women merely players -Shakespeare
Dec 6th, 2011 6:48 PM #3
US oil production in 2010 was lower than it was in 2000 and much lower than it was in the 1970s.
US Oil Production.jpg"Those who cannot remember the past are condemned to repeat it" G. Santayana
Dec 6th, 2011 7:15 PM #4
That's great. I think it will help the economy too. Also, if you have what other countries want it will put you in a position of power.
Edit. I mean more power than you already have.
Users Browsing this Thread
There are currently 1 users browsing this thread. (0 members and 1 guests)