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Response to brett_jv (Reply #19)

Mon Jul 7, 2014, 12:31 PM

22. Yes, we are a "net exporter" of oil.

That's going to vary at different times depending on a number of factors.

It is not the same as "energy independence."

One problem with all of the talk of increasing domestic production as a way to be "free" of the Middle East is that we don't earmark everything produced here for domestic use before selling any. We buy and we sell, at all times, because it's a worldwide market.

We continue to import oil, yes, but domestic demand is down, and U.S. domestic production is up, so, for the first time since 1949, we sometimes send out more than we take in.

The U.S. exported more gasoline, diesel and other fuels than it imported in 2011 for the first time since 1949, the Energy Department said.

Shipments abroad of petroleum products exceeded imports by 439,000 barrels a day, the department said today in the Petroleum Supply Monthly report. In 2010, daily net imports averaged 269,000 barrels. U.S. refiners exported record amounts of gasoline, heating oil and diesel to meet higher global fuel demand while U.S. fuel consumption sank.

The United States tiptoed closer to energy independence last month when for the first time in nearly two decades it produced more crude oil than it imported, federal officials said Wednesday.

The nation has been moving toward this milestone, because two trends are converging. Domestic oil production is at a 24-year high while foreign oil imports are at a 17-year low. The result: production exceeded net imports for the first time since February 1995, although the nation still imports 35% of the petroleum it uses.

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Arrow 28 replies Author Time Post
iandhr Jul 2014 OP
SidDithers Jul 2014 #1
yeoman6987 Jul 2014 #7
brett_jv Jul 2014 #17
Fred Sanders Jul 2014 #2
ProfessorGAC Jul 2014 #5
Fred Sanders Jul 2014 #6
DirkGently Jul 2014 #23
Skidmore Jul 2014 #3
DetlefK Jul 2014 #4
NV Whino Jul 2014 #8
Snotcicles Jul 2014 #9
Snotcicles Jul 2014 #10
Gothmog Jul 2014 #11
DirkGently Jul 2014 #12
Amimnoch Jul 2014 #13
PADemD Jul 2014 #14
DirkGently Jul 2014 #15
brett_jv Jul 2014 #19
LineLineLineLineNew Reply Yes, we are a "net exporter" of oil.
DirkGently Jul 2014 #22
Moostache Jul 2014 #16
NealK Jul 2014 #18
malaise Jul 2014 #20
FSogol Jul 2014 #21
WilliamPitt Jul 2014 #24
LiberalEsto Jul 2014 #25
Louisiana1976 Jul 2014 #26
Quantess Jul 2014 #27
NM_Birder Jul 2014 #28
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