Tuesday, December 20, 2011

US on track in 2011 to be net EXPORTER of petroleum products, exports of gas, diesel and other oil-based fuels are soaring! US is sustainable!

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We're a net exporter of fuel in part because we've been manipulated into a depression. No more crony electric car and solar deals needed because we're 'sustainable' already! "Only 12% (of net US petroleum imports) came from Saudi Arabia last year."...

12/19/11, "Missing $4,155? It Went Into Your Gas Tank This Year," AP via CNBC

AP doesn't reveal that the US actually is on track to be a net oil exporter in 2011. It wrecks the entire "Greedy America is robbing everyone else" sales pitch. It says:

"The U.S. is an oil-importing country, so many of the dollars spent on gas ultimately leave the country instead of being invested here in new ventures and jobs. "...

The AP doesn't say:

11/30/11, "U.S. Nears Milestone: Net Fuel Exporter," Wall St. Journal, by L. Pleven, R. Gold

A combination of booming demand from emerging markets and faltering domestic activity means the U.S. is exporting more fuel than it imports,

  • upending the historical norm.

According to data released by the U.S. Energy Information Administration on Tuesday, the U.S. sent abroad 753.4 million barrels of everything from gasoline to jet fuel in the first nine months of this year, while it imported 689.4 million barrels."...(remainder of article is subscription)

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This in the midst of near historic prices at the pump which have caused suffering and deprivation in low and middle class families and lowered the GDP of the country.

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9/10/11, "U.S. Exporting More Gasoline, Diesel Fuel," ConsumerAffairs.com

Big Increase in Gasoline Exports

The U.S. is also increasing its exports of refined gasoline. U.S.-based refiners are exporting 395,000 barrels per day to other countries. The government report shows those exports have almost doubled since the start of the summer,
  • when coincidently, domestic gasoline prices started to fall.

While the U.S. is sending its own oil products abroad, it obviously has less need to import oil from other countries. Economist Joel Naroff, of Naroff Economic Advisors, in Holland, Pa., says that's one big reason the U.S. trade deficit dramatically shrank in July.

“The decline in imports was largely driven by petroleum,” Naroff said....

Oil refiners are private companies, free to sell their products in a global economy to the highest bidder, wherever they can find a market. But one is left to wonder

  • what U.S. gasoline and diesel fuel prices would be
  • if U.S. petroleum exports remained at normal levels....

In its latest report, the U.S. Energy Information Administration notes U.S. refiners last year shipped 656,000 barrels per day of distillate fuel, which includes heating oil and diesel fuel, overseas. During the first six months of this year, diesel fuel exports averaged 730,000 barrels per day

  • nearly a one-third increase over the previous year.
U.S. stockpiles of diesel fuel, according to the report, are now 11 percent below where they were a year ago."...

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Continuing, AP:

"The typical American household will have spent $4,155 filling up this year, a record. That is 8.4 percent of what the median family takes in,
  • the highest share since 1981.

Gas averaged more than $3.50 a gallon this year, another unfortunate record. And next year isn't likely to bring relief....

Compared with the year before, American gas consumption has been down every week for more than nine months, according to MasterCard SpendingPulse, a spending survey....

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5/27/11, "Gas tanks are draining family budgets," AP, J. Fahey, via MSNBC

"Every 50-cent jump in the cost of gasoline takes $70 billion out of the U.S. economy over the course of a year, Hamilton says. That's about one half of one percent

  • of gross domestic product."...(parag. 13)

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And, "Only 12% (of net US petroleum imports) came from Saudi Arabia last year, down from nearly 19% in 1993."...

12/16/11, "Oil boomlet sweeps U.S. as exports and production rise," USA Today, Wendy Koch

"The U.S. exported more oil-based fuels than it imported in the first nine months of this year, making it likely that 2011 will be the first time since 1949 that the nation is a net exporter of such goods, primarily diesel....

"It's dramatic. It's transformative," Edward Morse, a former senior U.S. energy official who now directs global commodities research at Citigroup, says of the historic shifts. He says the U.S. is importing a smaller share — 49% in 2010, down from 60% in 2005 — of the oil it uses, adding: "We're moving toward energy independence."

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12/19/11, "EXCLUSIVE: EPA Ponders Expanded Regulatory Power In Name of 'Sustainable Development'," George Russell, Fox News

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Not to mention animal suffering, millions of family dogs and cats who aren't brought to the vet for needed care. Many are simply abandoned to starve to death. All because of a criminal political class.



via Tom Nelson

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