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T Boon Pickens T Boon Pickens is offline
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Default US Oil Self-Sufficiency? So much for that lie as MidEast OilImports Increase

Han wrote:

Uh, yeah. We import oil. We refine the imported oil. We sell the
resulting product for a tidy profit.


Right. Most refineries are near ports (for imported oil). See
Rotterdam.


As I posted last Friday, you are not necessarily a NET exporter of
gasoline or other refined products.

In the 4'th quarter of last year, some (or at least one) refiner
exported 5% of it's gasoline and 17% of it's heating and diesel
production.

The reason - your economy has gone into the toilet and demand for
transportation fuels is taking a dump.

Gasoline demand in the U.S. sank 2.9 percent to 8.736 million barrels a
day last year as pump prices averaged $3.521 a gallon, the highest in
records dating back to 1919.

“The reason we can export so much is demand in the U.S. is weak,” Cohan
said. Since 2005, the U.S. has lost nearly 2 million barrels a day of
total product consumption, he said.

Even though some (or at least one) refiner has exported finished
products in Q4, nationwide you are (today) importing 400k barrels per
day of gasoline.

So tell me how is it that some refiners are exporting gasoline and
diesel (presumably being exported from gulf-coast refineries) while you
are also importing gasoline (presumably into east-coast ports in Philly
and Baltimore) ?

I'll tell you why - Logistics. You don't have a good internal
fuel-distribution network within the US.