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Author Topic: Americans Exporting More Oil First Time Since ’70s Back to Topics
Sanpoil
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Spokane

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Message Posted: Jun 18, 2013 8:16:20 AM

The U.S. oil boom is moving Congress closer than it has been in more than three decades to easing the ban on exporting crude imposed after the Arab embargo.

Advances such as hydraulic fracturing are leading to record production that may outstrip refinery capacity within 18 months to three years, said Benjamin Salisbury, a senior energy policy analyst at FBR Capital Markets Corp. in Arlington, Virginia. Net petroleum imports now account for about 40 percent of demand, down from 60 percent in 2005, according to the U.S. Energy Information Administration, the Energy Department research unit.
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REPLIES (newest first) Post a Reply
blupupher
Champion Author Houston

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Message Posted: Jun 19, 2013 8:04:20 AM

wish prices would reflect this excess we have to ship out.
DoctorV
Champion Author Detroit

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Message Posted: Jun 18, 2013 9:54:55 PM

Jeff, I could give a flying F about hope and/or change so instead, explain to us the economic benefits of lower utilization rates.

Buckeye, yours is a non-sequitur.
Buckeyee
Champion Author Maine

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Message Posted: Jun 18, 2013 9:15:44 PM

If the doc was correct, then Michigan would have lower gas prices. Didn't they have record high gas prices recently ??
Jeff4U
Champion Author Atlanta

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Message Posted: Jun 18, 2013 5:16:59 PM

Wow DoctorV, you actually believe the crap they dish out?
And I suppose hope & change is something you believed in too.
doyle16
Champion Author Florida

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Message Posted: Jun 18, 2013 4:48:52 PM

Maybe this will ease the "Made in China" trade imbalance a tiny bit.
xgojim
Champion Author Michigan

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Message Posted: Jun 18, 2013 4:39:56 PM

We need another refinery but not in my backyard!
lonewolf_947
Champion Author New Hampshire

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Message Posted: Jun 18, 2013 4:05:13 PM

thats interesting..........
sickhp
Champion Author San Antonio

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Message Posted: Jun 18, 2013 3:49:35 PM

Drill baby drill in all of America, those are shovel ready jobs.
ss70
Champion Author Detroit

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Message Posted: Jun 18, 2013 3:48:15 PM

Time to allow only limited quantities of crude or refined products .
deputydog082
Champion Author Detroit

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Message Posted: Jun 18, 2013 3:23:51 PM

how about keeping our oil here and lowering gas prices?
txrojo2005
Champion Author Austin

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Message Posted: Jun 18, 2013 1:24:33 PM

I agree with DoctorV.
DoctorV
Champion Author Detroit

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Message Posted: Jun 18, 2013 1:17:13 PM

Key paragraph:

“The ability to export excess production has actually allowed refineries to operate at higher utilization rates,” Sieminski said at the conference. “The net result of that is to keep product prices for consumers actually lower than they would otherwise be.”

Something the dimwits here can't comprehend.
wrunner
Champion Author Virginia

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Message Posted: Jun 18, 2013 12:55:47 PM

That is America's destiny.

The sun is setting on OPEC.

American is rising as the resurgent world oil power.

America rules!
admiller316
Sophomore Author Detroit

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Message Posted: Jun 18, 2013 12:54:15 PM

And I care about this... why? Prices at the pump also hit record highs in the last couple weeks. I think I see a pattern here...
Tekkersmom57
Champion Author Syracuse

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Message Posted: Jun 18, 2013 12:17:07 PM

How about we keep more of our oil here and refine it into gasoline so that our gas prices can be lower than they currently are.

Sounds like a plan!!!
niffty50
All-Star Author Indianapolis

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Message Posted: Jun 18, 2013 12:16:18 PM

The more we export the more we can buy on the world market from OPEC, and keep prices up.
OTISFL
Champion Author Pensacola

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Message Posted: Jun 18, 2013 11:57:17 AM

Exporting OUR gas while OUR prices continue to climb!
Jeff4U
Champion Author Atlanta

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Message Posted: Jun 18, 2013 11:48:32 AM

Exports - one of the primary reasons why gas prices stay high in America, regardless of low demand and record high inventories.
amoshins
Champion Author Trenton

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Message Posted: Jun 18, 2013 11:41:28 AM

We keep hearing it, yet consumers don't seem to be benefiting...
Discovery02
Champion Author Colorado Springs

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Message Posted: Jun 18, 2013 11:30:52 AM

We need smart energy policy woven into our foreign policy keeping a watchful eye on protecting our own markets and consumers.
Fleabite44
Champion Author Maryland

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Message Posted: Jun 18, 2013 11:16:44 AM

If this is due in part to outstripping refinery capacity, build another refinery.
Lugi1967
Champion Author Ohio

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Message Posted: Jun 18, 2013 11:11:28 AM

Wowsie
investmentdr
Champion Author Cleveland

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Message Posted: Jun 18, 2013 11:07:58 AM

so much for cheaper fuel here
WalkingWV
Champion Author West Virginia

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Message Posted: Jun 18, 2013 11:07:16 AM

Exporting more, while getting gouged at home, sounds about right.

Obscene profits obtained by selling gas priced for $140/bbl oil, while actually paying under $100/bbl for the oil.

Oh yeah, let the free market reign. Free market means Wall St gets to rape everyone.

Drill baby drill, Big Oil wants more obscene profits, pornographic profits.
CaptainStall
All-Star Author New Brunswick

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Message Posted: Jun 18, 2013 11:04:08 AM

"Output is putting the nation on pace to surpass Saudi Arabia as the world’s largest producer by 2020, according to Energy Department data."

That's really hard to believe.
kbcoach
Sophomore Author Minnesota

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Message Posted: Jun 18, 2013 11:03:59 AM

And still the prices we pay go up because of "shortages". RIGHT, big oil!
BUSMAN1105
Champion Author Atlanta

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Message Posted: Jun 18, 2013 10:46:18 AM

WHY ARE WE EXPORTING OIL WHEN WE NEED IT OURSEVELFS!!!!!!!!!!!!!!!!!!!!!!!!!!!!
TripleHs
Champion Author Austin

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Message Posted: Jun 18, 2013 10:19:48 AM

more oil in the world in the future
Joeski1
Champion Author New Jersey

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Message Posted: Jun 18, 2013 9:47:54 AM

Is it possible our oil can be sold somewhere else and be cheaper than selling here..

Strange market dynamics involved.. must be voo doo keeps prices so high..
Gas_Eyes
Champion Author Dallas

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Message Posted: Jun 18, 2013 9:41:44 AM

Will exporting additional natural gas also be allowed. The price for natural gas is depressed.
BBF_PFS
Champion Author Washington

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Message Posted: Jun 18, 2013 9:28:12 AM

It is good to help balance the trade deficit however it would be even better to get fuel prices lower here and get the economy going so that more people could go back to work.
beachd8
Champion Author Orange County

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Message Posted: Jun 18, 2013 9:19:58 AM

Nice to know that we're capable of that . . . but let's bring down prices @ home by exporting less.
BurntOrange
Champion Author Austin

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Message Posted: Jun 18, 2013 9:18:44 AM

"Americans Exporting More Oil First Time Since ’70"

Could we translates that to English?
JamesCalvin
Champion Author Lancaster

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Message Posted: Jun 18, 2013 9:05:13 AM

Great!

Why didn't any body think of this before?
mcg00
All-Star Author Milwaukee

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Message Posted: Jun 18, 2013 9:04:10 AM

“It is safe to say that this is an issue watched very carefully on a daily basis.”
humblepie
Champion Author Toledo

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Message Posted: Jun 18, 2013 9:01:49 AM

only the liberals like these ideas, real americans dont like this at all
skempton
Champion Author Vermont

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Message Posted: Jun 18, 2013 8:59:20 AM

Ought to help the balance of payments.
JDchefF
Champion Author Lancaster

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Message Posted: Jun 18, 2013 8:59:01 AM

Some export is good for economy, but we need to build up our reserves and put the oil and refined products back in our system to bring down the price at the pumps.
screwoilco
Champion Author Sacramento

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Message Posted: Jun 18, 2013 8:56:04 AM

export is bad news, we should be stockpiling strategic oil reserve
scu227
Champion Author New Haven

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Message Posted: Jun 18, 2013 8:53:22 AM

Take care of our country first. Kep our oil here and lower our prices.

[Edited by: scu227 at 6/18/2013 8:53:38 AM EST]
zuess28
Champion Author Allentown

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Message Posted: Jun 18, 2013 8:41:07 AM

They make more exporting oil as our supplies grow lower and our gas prices grow higher.Its a win win for these companies.
streetdesign
Champion Author Illinois

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Message Posted: Jun 18, 2013 8:40:23 AM

Sounds like cart before the horse. I agree they need to resolve refinery and transport issues before trying to profit from exporting. Government needs to smarten up.
drpepperTX
Champion Author Texas

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Message Posted: Jun 18, 2013 8:39:32 AM

A job well done by the oil companies!
dkp1960
Champion Author St. Louis

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Message Posted: Jun 18, 2013 8:36:24 AM

Exporting oil while there are refinery problems? Before they start expiring anything fix the refineries!
cdrrod
Champion Author Wisconsin

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Message Posted: Jun 18, 2013 8:32:51 AM

well, in the interim our gas prices continue to increase. Wrongonomics!
LanguageMan1
Champion Author Tampa

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Message Posted: Jun 18, 2013 8:31:11 AM

Good only to a degree. We need it as well.
EnviroChemist
Champion Author Oklahoma

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Message Posted: Jun 18, 2013 8:28:32 AM

We should not be too hasty in the exportation of our oil.
Sanpoil
Champion Author Spokane

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Message Posted: Jun 18, 2013 8:24:55 AM

That is true oil independence.
mastermariner
Champion Author Texas

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Message Posted: Jun 18, 2013 8:22:33 AM

Good for the balance of payments
merlinCO
Champion Author Colorado

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Message Posted: Jun 18, 2013 8:20:42 AM

Can't take care of our needs first?/?
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