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US Prepares to Export Crude Oil
h/t InstapunditThe U.S. is preparing for a role it hasnt held in quite some time: exporter of crude oil. Although America has long been among the worlds largest producers of crude oil, the high level of domestic consumption has meant that most of this crude remained within the country for processing and use. But now the FT reports that a number of energy companies have applied to the government for applications to export American crude abroad, mostly to refineries in Canada. New extraction techniques like fracking and the production of new types of oil over the past few years have overwhelmed the capacity of many local refineries, and energy companies are now looking across the border to process their new bounty. And this is all happening surprisingly quickly The real WOT Posted by: g(r)omgoru 2012-10-13 |
| http://www.rantburg.com/poparticle.php?ID=353802 |