Nothing to see here - move along, move along...
US oil firms seek drilling access, but exports soar
July 3, 2008
WASHINGTON3 (Reuters) - While the U.S. oil industry want access to more federal lands to help reduce reliance on foreign suppliers, American-based companies are shipping record amounts of gasoline and diesel fuel to other countries.
A record 1.6 million barrels a day in U.S. refined petroleum products were exported during the first four months of this year, up 33 percent from 1.2 million barrels a day over the same period in 2007. Shipments this February topped 1.8 million barrels a day for the first time during any month, according to final numbers from the Energy Department.
The surge in exports appears to contradict the pleas from the U.S. oil industry and the Bush administration for Congress to open more offshore waters and Alaska's Arctic National Wildlife Refuge to drilling.
More at the link.
The Guild
Nothing but stock-piling as much spice...er, oil as you can, to beat the other Landsraad... I mean, nations ;-)
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It's not the depth of the rabbit hole that bugs me...
It's all the rabbit SH*T you stumble over on your way down!!!
Red Pill Junkie
Canada
The article also mentions that exports to Canada "skyrocketed" from 9000 barrels to 41000 barrels of some particular product.
That translates to something like 10 trucks instead of 2 trucks, or thereabouts. A ridculously small amount, considering the trade volume. I am sure that these journalists could count the number of trucks involved - perhaps they have to take their shoes off. I am sure more diesel is spilled than that.
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The large print giveth,
The small print taketh away.
re:Canada
that's barrels not gallons Earthling. That would be an increase from ~35 trucks/day to ~165 trucks/day, which is still small potatoes considering the amount of trade going on between both countries. Shouldn't also forget that Petro-Can's refinery in Montreal has been running at much lower capacity from lock-out (or strike, not sure) and that affected supplies to Eastern Canada, and Esso imports all its gas by boat/tanker from its US refinery(ies) (Costco gas stations also source their gas from the States), so independents had to find a different supplier. Canada is also one of the biggest supplier of crude oil to the US from the environmental disaster tar sands. It'd be interesting to see the net export/import figures, instead of Forbes "skyrocketed" biased figures. If US crude imports increased by 200000 bpd and their exports increased by 32000 bpd, that changes the whole picture
Cheers
numbers
Yes seems like I got some arithmetic wrong, but as you say, even 165 trucks a day is still very little.
The Forbes article was talking about refined oil products, as opposed to crude oil. So this simply means that the US has more refinery capacity than Mexico. And the trade between Canada and the US is to a large degree imaginary as being "international". It is the same economy for most purposes.
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The large print giveth,
The small print taketh away.