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| Economy |
| US Prepares to Export Crude Oil |
| 2012-10-13 |
| h/t Instapundit The U.S. is preparing for a role it hasnÂ’t held in quite some time: exporter of crude oil. Although America has long been among the worldÂ’s 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 |
| #10 Shipman, I think the net imports figure for the last two years are untrustworthy and the figures have been manipulated to mask the shortfall of production in the Gulf from the year-long shutdown in 2010. |
| Posted by: Thing From Snowy Mountain 2012-10-13 22:52 |
| #9 I suspect the USA has been exporting oil (however small the amount) for many decades. See this EIA summary - a giant amoeba-like blob, illustrating all imports/exports/consumption. |
| Posted by: Anguper Hupomosing9418 2012-10-13 22:44 |
| #8 See here: http://www.eia.gov/totalenergy/data/annual/pdf/sec5_4.pdf Will someone please wake me up when the US needs to net import only 10% of its consumption? |
| Posted by: Anguper Hupomosing9418 2012-10-13 22:36 |
| #7 I suspect Snowy or Glemore can speak more accurately to this. I suspect this is just shifting product where it can best be refined, it's not like the US has suddenly started producing the oil needed to to become an oil exporter. Hydrocarbons... maybe, maybe soon... but not oil. |
| Posted by: Shipman 2012-10-13 16:23 |
| #6 Refinery location & type. Some oils need special handling that not all refineries can do. The Obamanation technique has been to prevent the increase in any "non-green" (aka politically connected) energy development whether actuall extraction or infrastructure; see Keystone. |
| Posted by: AlanC 2012-10-13 14:48 |
| #5 Exporting Texas Tea for refining instead of increasing refining capacity is a national security risk. Fits perfectly with Hussein's marxist ideology for the United States. |
| Posted by: Bigfoot Glith3592 2012-10-13 14:17 |
| #4 From the article, above: 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. So definitely refinery capacity. Or at least, refinery capacity in the right location. |
| Posted by: trailing wife 2012-10-13 13:38 |
| #3 lack of refinery capacity here? |
| Posted by: Frank G 2012-10-13 13:25 |
| #2 given high prices here why would a company want to export? To keep the prices high? |
| Posted by: Spanky Henbane6009 2012-10-13 13:22 |
| #1 ...Would anyone like to place any wagers on whether or not the EPA somehow finds a way to prevent this? Mike |
| Posted by: Mike Kozlowski 2012-10-13 13:13 |