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Author Topic: Americans Exporting More Oil First Time Since '70s Back to Topics
SSchmidty
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Illinois

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Message Posted: Jun 18, 2013 4:52:22 PM

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.

Congress has limited oil exports since the 1973-74 Arab oil embargo triggered shortages that pushed up prices and led to long lines at gas stations. An increase in domestic production last year by a rec
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REPLIES (newest first) Post a Reply
gs7101
Champion Author San Antonio

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Message Posted: Jun 20, 2013 7:41:05 AM

Great!
gs7101
Champion Author San Antonio

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Message Posted: Jun 19, 2013 7:35:15 AM

Ok.
dandvicb
Champion Author Bridgeport

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Message Posted: Jun 19, 2013 6:20:57 AM

Drill baby Drill!!
eomc17
Champion Author Tucson

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Message Posted: Jun 19, 2013 4:26:56 AM

I guess 100$+ for a barrel of WTI crude might become the norm if we keep exporting more oil. Shows that Congress does not want lower gas prices. If it did, it would have given the CFTC the money it has needed for 29 months to enact legislation to curb speculation and set position limits, which was required by law.
Trudat316
Veteran Author Missouri

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Message Posted: Jun 19, 2013 2:04:35 AM

Keep it here u greedy ba$tard$!
heydano67
Champion Author California

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Message Posted: Jun 19, 2013 1:28:44 AM

keep it here and lower our prices
DesertRat2011
Champion Author Riverside

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Message Posted: Jun 19, 2013 1:21:43 AM

Makes our cost higher
JohnofGB
Champion Author Flint

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Message Posted: Jun 19, 2013 12:15:54 AM

Funny , I just read crude supplies were down. Now I know why. Next will be a raise in gasoline prices because we are low on crude because we sold it to foreigners.
mwg6275
Champion Author Miami

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Message Posted: Jun 18, 2013 10:29:56 PM

Still puts more oil on the market, which will help keep prices from going up even higher.
Night Owl
Champion Author Toronto

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Message Posted: Jun 18, 2013 10:15:12 PM

Exports just increase prices domestically.
RBob
Champion Author Portland

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Message Posted: Jun 18, 2013 9:11:43 PM

Appears to be more evidence how much Congress represents big business and not the poople of this country.
GreatGraphics
Veteran Author New Jersey

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Message Posted: Jun 18, 2013 9:00:03 PM

Yes this is good news. Lets hear a fresher spin on article instead of repeating the story
ddor
Champion Author Michigan

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Message Posted: Jun 18, 2013 8:47:39 PM

Ok
peakkeller
Champion Author Colorado Springs

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Message Posted: Jun 18, 2013 7:17:48 PM

Would really help bring down the trade deficit.
Pramodsharma
Champion Author Richmond

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Message Posted: Jun 18, 2013 6:33:03 PM

Quality Sells
Tacodan
Champion Author Cincinnati

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Message Posted: Jun 18, 2013 6:26:05 PM

people can't read but they sure can post !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
OLD NEWS ....……….
lindalm25
All-Star Author Indianapolis

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Message Posted: Jun 18, 2013 6:06:03 PM

Good
humblepie
Champion Author Toledo

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Message Posted: Jun 18, 2013 5:54:03 PM

another re-post today
remay
Champion Author Houston

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Message Posted: Jun 18, 2013 5:14:56 PM

re: the title:
It's good to know I am exporting more oil (since I qualify as an American). I really didn't know I had the capability. Thanks, Bloooooomerberg for pointing that out.
Jeff4U
Champion Author Atlanta

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Message Posted: Jun 18, 2013 5:12:55 PM

ALREADY POSTED today by: Sanpoil

SSchmidty:
Why did you ignore that BIG GIANT POP-UP warning you that the article already exists? We don't need duplicates!
Flashcube
All-Star Author Nashville

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Message Posted: Jun 18, 2013 5:06:45 PM

What a balancing act. If the oil companies export more to other countries, our prices go up and we have a shortage, and if they export less, they make less money. Can't believe there is a 20% difference since 2005. INTERESTING.
SammyAdams
Champion Author Tallahassee

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Message Posted: Jun 18, 2013 5:03:14 PM

This wasn't because of BO's "All Of The Above" policy, either.
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