U.S. exports of refined fuels, particularly diesel, have surged to fresh all-time highs, helping to keep the prices of gasoline and diesel in this country at record levels for this time of year.The explanation for the price of WTI oil melting up is starting to get clearer.
In August, the latest month for which Energy Department data are available, U.S. refiners exported a record average of 895,000 barrels a day of refined fuels, compared with 730,000 barrels a day during the first half of the year. Most went to Central and South America.
The Netherlands was the biggest buyer (146,000 barrels a day) of fuel exports in August, followed by Mexico (112,000 barrels), Panama (63,000), Brazil (56,000), Colombia (54,000), France (42,000) and Peru (41,000).
Exports of U.S. refined fuels are expected to increase, with global demand projected to rise sharply in the coming years, analysts say.Expect to see a lot of rail traffic crossing Nebraska, fouling Omaha.
And this link:
Just as the average price for gas is set to hit $4 a gallon this week, the U.S. Energy Information Administration reports February was the third month out of four that the U.S. -- the world's most energy-hungry nation -- actually exported more oil that it imported.At least we know where to place some of the blame if the price of gasoline keeps going up: Nebraska.
Despite the notion that the U.S. is currently hugely reliant on foreign oil, the country sold 34,000 more barrels of petroleum products a day than it imported in November 2010. And, in both December and February, the U.S. sold 54,000 more barrels a day. Net imports have not been negative for nearly two decades.
What is preventing the Bakken reserves from being "discovered" by the national media? Is the Bakken truly a threat to our US political establishment or non soveriegn interests in the Middle East? Or are the international environmental interests firmly in control of US energy policies?
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