US Oil and gasoline exports soar

[pwjohn]

And yet so many of the posters here believe the oil companies aren't in it for the money.

WASHINGTON, July 3 (Reuters) - While the U.S. oil industry wants 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.
"We can help alleviate shortages by drilling for oil and gas in our own country," President Bush told reporters this week. "We have got the opportunity to find more crude oil here at home."

ANALYSIS-US oil firms seek drilling access, but exports soar | Markets | Reuters

So, are we stupid Mr. Bush?

To be honest dude, I haven't noticed anybody on this board, loving on big oil.

As for exporting oil, that was forbidden by law way back in the early 1970's..

 

[Mr. H.]

The real scam is a few days ago DC lifted the 45 year old US Oil Export Ban. You can see the huge fast subtraction of oil import numbers on the US Debt Clock! These number were climbing but now rapidly spin backwards. The oil fracking boom flooded mid-west US refineries with oil. Then the day they shut down a major US refinery the ban was lifted to ship the oil out of the country. This has spiked gasoline prices in the mid-west by $1/gallon forcing US to pay way more at the pump.

Would you shut it once and for all, you lying piece of poo.