After 21 Years, the US Top Export: Oil and Refined Products -- Incredible

Link here.

For the first time in at least 21 years, the top export of the world's biggest gas guzzler, is — wait for it — fuel.

Measured in dollars, the United States is on pace this year to ship more gasoline, diesel and jet fuel than any other type of export, according to government records dating back to 1990.

Note: the record in this article has to do with "refined products," not oil per se.

However, in an earlier story this month, it was also noted that for the first time in six decades, the US was a net exporter of oil.

Under a                             administration.

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In other news, this is very, very interesting:

In October, the US imported 6 percent more crude oil compared to a year earlier. 

U.S. crude oil imports rose 5.7 percent in October from a year ago to 9.029 million barrels a day,...

Imports were up 23,000 barrels a day from September. Crude imports were the highest in October since 2008.

Supplies from Canada, the top supplier to the U.S. since March 2006, rose 23 percent from a year ago to 2.271 million barrels a day.

Canada's share of total U.S. crude imports stood at 25 percent.

Saudi Arabia, the world's biggest oil exporter, was the second-biggest crude supplier in the month. Volume fell to 1.120 million barrels a day. Imports from Persian Gulf suppliers fell 6 percent in the month, to 1.902 million barrels a day

Third-place Mexico shipped its lowest crude volume since April.

Okay, let's re-word some of that, putting emphasis in different places.

Despite all the news about unconventional oil being produced in America (mostly the Bakken right now), the US crude imports were the highest since 2008 -- three years ago. Is this a sign that the economy is recovering or the US is actually producing less oil?

There has been a huge increase in oil supplies from Canada even as supplies from Mexico continue to fall. There have been many, many stories about Mexico's oil industry slowly imploding due to national policies and union rules. Mideast crude imports dropped.

Thus, at the end of the day, it was oil -- that dirty, heavy, sands oil -- from Canada that was fueling the US. Interesting.