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How the U.S. Became 'The China of Refined' Gasoline

Bloomberg Businessweek -- You hear all the time that America is too dependent on foreign oil. For the better part of the past 50 years, the U.S. has imported the majority of its crude. But that dependance is quickly diminishing. According to the Energy Information Administration, crude oil imports fell to 8.9 million barrels a day in 2011, the lowest level in more than a decade. Since 2005, foreign imports have dropped from 60 percent of U.S. consumption to 45 percent last year, according to U.S. Department of Energy data.

While the U.S. is becoming less reliant on foreign crude, the world is becoming more reliant on gasoline and diesel fuel refined in the U.S.

“We have become the China of refined products,” says a senior energy analyst at Oppenheimer&Co. “We’re dumping product into other countries’ backyards.”


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Submitted Mar 03, 2012 By: bar1035
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: How the U.S. Became 'The China of Refined' Gasoline Back to Topics
REPLIES (newest first) Post a Reply
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1006
Champion Author Birmingham

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Message Posted: Mar 8, 2012 6:44:43 AM

these are thing the public is not aware.
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honda0105
Champion Author Tallahassee

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Message Posted: Mar 6, 2012 5:55:28 AM

reduce, reuse, recycle, use less plastic to start with and get back to reusable products, such as glass.
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honda0105
Champion Author Tallahassee

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Message Posted: Mar 5, 2012 6:13:02 AM

we waste too much of anything that's produced using oil, esp. plastics.
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packards42
Champion Author Washington

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Message Posted: Mar 4, 2012 6:25:41 PM

This is good for American Job, but watch out, the Saudi are building in Saudi 3 -400,000 barrel a day refineries, and partner on at least three other in India and china. But the new EPA rules are shuting refinery all over the USA, especial the Northeast and Pennsylvanian

[Edited by: packards42 at 3/4/2012 6:26:35 PM EST]
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gawxnative
All-Star Author Atlanta

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Message Posted: Mar 4, 2012 9:02:04 AM

They will keep doing this as they can make more profit with the current market
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coughlin
Champion Author San Jose

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Message Posted: Mar 4, 2012 9:00:01 AM

The U.S.
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gravityhurts
Champion Author North Carolina

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Message Posted: Mar 4, 2012 6:13:05 AM

Build more refineries.
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tomok
Champion Author Portland

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Message Posted: Mar 4, 2012 4:15:55 AM

Big oil is selling fuel and natural gas on the world market for higher prices, there will be NO price reduction for the cost of fuel or natural gas IN the US. Barry will support natural gas and oil production for sale on the world market to pay for his ‘spending gone wild’ addiction. The US ‘oil and natural gas resources’ belong to the citizens of this country and are to be used by those same citizens! Speculators, manipulators and the banks continue to unfairly and unjustly make the driving public pay higher prices at the pump for their benefit.
Whatever the size or shape of the vehicle is, Produce and ‘Drive’ vehicles with high MPG, are very reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. Consider using other forms of less expensive transportation to lower your cost, if possible.
The price of fuel at the pump is too high!
12/22/2012!
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ExplorerWA
Champion Author Washington

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Message Posted: Mar 4, 2012 12:40:04 AM

Wow! We are exporting refined products while setting record highs for both gas and food. Refineries are shutting down. Yet, we are willing to risk a nuclear war with Iran over crude oil. I don't get it?
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feldos
Champion Author Florida

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Message Posted: Mar 4, 2012 12:24:44 AM

interesting
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Toppers
Champion Author Atlanta

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Message Posted: Mar 4, 2012 12:00:36 AM

& prices keep rising...here!`
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RAKARWOWSKI
Champion Author Chicago

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Message Posted: Mar 3, 2012 11:59:51 PM

ok.
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pecos
Champion Author Columbus

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Message Posted: Mar 3, 2012 11:57:29 PM

We have no refineries and there wanting to close more.
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SparkieMi
Champion Author Kalamazoo

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Message Posted: Mar 3, 2012 11:56:43 PM

Then why are refineries closing????
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mattymattmatt
Champion Author Scranton

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Message Posted: Mar 3, 2012 11:53:41 PM

Herp Derp.
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Chris46
Champion Author Dayton

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Message Posted: Mar 3, 2012 11:53:20 PM

Maybe it will mean more jobs? Lower gasoline prices?
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bra0712
Champion Author Arizona

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Message Posted: Mar 3, 2012 11:51:49 PM

Omg
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NHLiveFree
Champion Author New Hampshire

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Message Posted: Mar 3, 2012 11:51:08 PM


How wonderful. Now bar.... provides us with with limited articles fm Bloomberg's B...W... Mobile site. Thanks a lot bar....

It's 'By Matthew Philips March 02, 2012 1:40 PM EST' spotterFL
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PerSonneL
Champion Author Alberta

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Message Posted: Mar 3, 2012 11:49:55 PM

doesn't matter , really
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bif65
Champion Author Virginia

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Message Posted: Mar 3, 2012 11:49:20 PM

ok
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EVBuddy
Champion Author Nevada

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Message Posted: Mar 3, 2012 11:48:08 PM

worthless story
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lowpet
All-Star Author Texas

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Message Posted: Mar 3, 2012 11:46:40 PM

gas is still too high
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NHLiveFree
Champion Author New Hampshire

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Message Posted: Mar 3, 2012 11:46:04 PM


It is more like robbing all our natural resources just so Big Oil can maximize their profits. It's time to keep all of this heare at home.
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postcard9
Champion Author Massachusetts

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Message Posted: Mar 3, 2012 11:45:03 PM

$3.78 here.
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raj_fl
Champion Author Trenton

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Message Posted: Mar 3, 2012 11:44:07 PM

reversal of fortune
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spotterFL
Champion Author Florida

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Message Posted: Mar 3, 2012 11:44:01 PM

WHO WROTE THIS?
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tippybuddy
Champion Author Ontario

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Message Posted: Mar 3, 2012 11:43:31 PM

pretty much everyone exports oil these days don't they?
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rjoeh
Champion Author Michigan

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Message Posted: Mar 3, 2012 11:39:01 PM

Guess there is something to say for our technological skills in refining the energy product. Only hitch is that as producers ship more refined oil overseas... they are conviently creating an artificial shortage of supply for use in America. IMHO...I think without doubt... America's needs should come first and companies that do not operate that way should be fined.
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twinfanMN
Champion Author Minnesota

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Message Posted: Mar 3, 2012 11:38:56 PM

ok
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DustyHorse
Champion Author Virginia

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Message Posted: Mar 3, 2012 11:38:15 PM

At least we export something.
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JettaKnight
Champion Author Toronto

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Message Posted: Mar 3, 2012 11:36:23 PM

mstearno
Dayton
"no jobs less driving
that's how socialism works"

Outsourcing jobs to third-world countries for next-to-no-wages & selling products to the highest bidders. That's how capitalism works.

There's no real justice in either system... nor any long-term sustainability. Eventually, both systems are bound to collapse.
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Fedorov91
Champion Author Tampa

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Message Posted: Mar 3, 2012 11:33:53 PM

Every gallon of gas we export should reduce the price of a gallon domestically...wake up people.. vote republican
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abcdMA
Champion Author Worcester

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Message Posted: Mar 3, 2012 11:31:55 PM

oil consumption is down due to the economy, and selling to the highest bidder is standard
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69Bonne
Champion Author Gary

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Message Posted: Mar 3, 2012 11:30:00 PM

Sell to the highest bidder, keeping our prices artificially higher....
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skyking19
Champion Author Little Rock

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Message Posted: Mar 3, 2012 11:29:13 PM

Seems like we should be cranking up our refineries instead of shutting them down.
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RecountFL
Champion Author Miami

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Message Posted: Mar 3, 2012 11:26:33 PM

The problem with that jamieg is that "we" don't have oil. The oil companies have oil and they are selling it to the highest bidder.
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Shelbruk
Rookie Author Arkansas

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Message Posted: Mar 3, 2012 11:25:54 PM

So, let's open more refineries, and increase the tariffs on the refined export products. That might help bring in more revenue, so we have a snowball's chance in Hades to pay off our foreign debts.

Then again, they (Congress & other govt. agencies) would simply find a way to spend it before that happened......... >:(
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jamieg2012
Veteran Author Sioux Falls

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Message Posted: Mar 3, 2012 11:23:30 PM

we should not send our stuff out

we should first use what we have to stop importing then we can think about selling to others
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carloco75
Champion Author Richmond

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Message Posted: Mar 3, 2012 11:22:16 PM

More bull sit...
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mstearno
Champion Author Dayton

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Message Posted: Mar 3, 2012 11:22:03 PM

no jobs less driving
that's how socialism works
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kcboy
Champion Author Utah

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Message Posted: Mar 3, 2012 11:18:04 PM

Interesting
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EmperorsFinest
Champion Author Chicago

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Message Posted: Mar 3, 2012 11:16:41 PM

We should not be dependant on other countries then.
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kzrooster
Champion Author Kalamazoo

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Message Posted: Mar 3, 2012 11:16:40 PM

so why is our gas prices so high??
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colaguy
Champion Author Columbia

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Message Posted: Mar 3, 2012 11:08:19 PM

not enough refineries in US
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Kaiyne
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Message Posted: Mar 3, 2012 11:06:53 PM

I definately agree with SBlouch
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freerobert
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Message Posted: Mar 3, 2012 11:02:25 PM

As the world turns.
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B_550i
All-Star Author Seattle

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Message Posted: Mar 3, 2012 11:01:03 PM

K
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carnifolks
Veteran Author New Jersey

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Message Posted: Mar 3, 2012 11:00:36 PM

My wife is a bitch
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camel1
Champion Author Minnesota

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Message Posted: Mar 3, 2012 10:58:34 PM

It is a start
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VetteFan
Champion Author Indiana

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Message Posted: Mar 3, 2012 10:57:26 PM

O.K.
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