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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

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1006 Champion Author Birmingham Posts:1,105 Points:1,356,940 Joined:Apr 2008	Message Posted: Mar 8, 2012 6:44:43 AM Ignore 1006 Report Abuse these are thing the public is not aware.
honda0105 Champion Author Tallahassee Posts:18,643 Points:1,611,470 Joined:Nov 2008	Message Posted: Mar 6, 2012 5:55:28 AM Ignore honda0105 Report Abuse reduce, reuse, recycle, use less plastic to start with and get back to reusable products, such as glass.
honda0105 Champion Author Tallahassee Posts:18,643 Points:1,611,470 Joined:Nov 2008	Message Posted: Mar 5, 2012 6:13:02 AM Ignore honda0105 Report Abuse we waste too much of anything that's produced using oil, esp. plastics.
packards42 Champion Author Washington Posts:6,447 Points:1,128,590 Joined:Feb 2005	Message Posted: Mar 4, 2012 6:25:41 PM Ignore packards42 Report Abuse 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]
gawxnative All-Star Author Atlanta Posts:510 Points:229,965 Joined:Aug 2006	Message Posted: Mar 4, 2012 9:02:04 AM Ignore gawxnative Report Abuse They will keep doing this as they can make more profit with the current market
coughlin Champion Author San Jose Posts:5,195 Points:1,119,815 Joined:Sep 2009	Message Posted: Mar 4, 2012 9:00:01 AM Ignore coughlin Report Abuse The U.S.
gravityhurts Champion Author North Carolina Posts:4,103 Points:939,455 Joined:Sep 2008	Message Posted: Mar 4, 2012 6:13:05 AM Ignore gravityhurts Report Abuse Build more refineries.
tomok Champion Author Portland Posts:33,069 Points:2,347,460 Joined:Aug 2006	Message Posted: Mar 4, 2012 4:15:55 AM Ignore tomok Report Abuse 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!
ExplorerWA Champion Author Washington Posts:4,088 Points:799,100 Joined:Feb 2011	Message Posted: Mar 4, 2012 12:40:04 AM Ignore ExplorerWA Report Abuse 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?
feldos Champion Author Florida Posts:2,640 Points:550,500 Joined:May 2011	Message Posted: Mar 4, 2012 12:24:44 AM Ignore feldos Report Abuse interesting
Toppers Champion Author Atlanta Posts:9,022 Points:2,472,645 Joined:Mar 2005	Message Posted: Mar 4, 2012 12:00:36 AM Ignore Toppers Report Abuse & prices keep rising...here!`
RAKARWOWSKI Champion Author Chicago Posts:4,010 Points:822,975 Joined:Jan 2011	Message Posted: Mar 3, 2012 11:59:51 PM Ignore RAKARWOWSKI Report Abuse ok.
pecos Champion Author Columbus Posts:7,730 Points:2,113,260 Joined:Jul 2005	Message Posted: Mar 3, 2012 11:57:29 PM Ignore pecos Report Abuse We have no refineries and there wanting to close more.
SparkieMi Champion Author Kalamazoo Posts:3,271 Points:590,335 Joined:Sep 2011	Message Posted: Mar 3, 2012 11:56:43 PM Ignore SparkieMi Report Abuse Then why are refineries closing????
mattymattmatt All-Star Author Scranton Posts:890 Points:366,110 Joined:Mar 2011	Message Posted: Mar 3, 2012 11:53:41 PM Ignore mattymattmatt Report Abuse Herp Derp.
Chris46 Champion Author Dayton Posts:23,683 Points:2,083,290 Joined:Sep 2005	Message Posted: Mar 3, 2012 11:53:20 PM Ignore Chris46 Report Abuse Maybe it will mean more jobs? Lower gasoline prices?
bra0712 Champion Author Arizona Posts:3,670 Points:770,295 Joined:Nov 2008	Message Posted: Mar 3, 2012 11:51:49 PM Ignore bra0712 Report Abuse Omg
NHLiveFree Champion Author New Hampshire Posts:11,105 Points:1,624,380 Joined:Jun 2008	Message Posted: Mar 3, 2012 11:51:08 PM Ignore NHLiveFree Report Abuse 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
PerSonneL Champion Author Alberta Posts:1,188 Points:736,915 Joined:Mar 2008	Message Posted: Mar 3, 2012 11:49:55 PM Ignore PerSonneL Report Abuse doesn't matter , really
bif65 Champion Author Virginia Posts:1,023 Points:195,755 Joined:Jan 2011	Message Posted: Mar 3, 2012 11:49:20 PM Ignore bif65 Report Abuse ok
EVBuddy Champion Author Nevada Posts:16,695 Points:3,032,570 Joined:Sep 2004	Message Posted: Mar 3, 2012 11:48:08 PM Ignore EVBuddy Report Abuse worthless story
lowpet All-Star Author Texas Posts:527 Points:86,915 Joined:Dec 2008	Message Posted: Mar 3, 2012 11:46:40 PM Ignore lowpet Report Abuse gas is still too high
NHLiveFree Champion Author New Hampshire Posts:11,105 Points:1,624,380 Joined:Jun 2008	Message Posted: Mar 3, 2012 11:46:04 PM Ignore NHLiveFree Report Abuse 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.
postcard9 All-Star Author Massachusetts Posts:883 Points:515,445 Joined:May 2011	Message Posted: Mar 3, 2012 11:45:03 PM Ignore postcard9 Report Abuse $3.78 here.
raj_fl Champion Author Trenton Posts:3,214 Points:729,730 Joined:Oct 2010	Message Posted: Mar 3, 2012 11:44:07 PM Ignore raj_fl Report Abuse reversal of fortune
spotterFL Champion Author Florida Posts:4,120 Points:524,990 Joined:Aug 2009	Message Posted: Mar 3, 2012 11:44:01 PM Ignore spotterFL Report Abuse WHO WROTE THIS?
tippybuddy Champion Author Ontario Posts:1,523 Points:207,740 Joined:Feb 2011	Message Posted: Mar 3, 2012 11:43:31 PM Ignore tippybuddy Report Abuse pretty much everyone exports oil these days don't they?
rjoeh Champion Author Michigan Posts:7,086 Points:2,471,940 Joined:Jun 2004	Message Posted: Mar 3, 2012 11:39:01 PM Ignore rjoeh Report Abuse 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.
twinfanMN Champion Author Minnesota Posts:1,633 Points:457,255 Joined:Jun 2011	Message Posted: Mar 3, 2012 11:38:56 PM Ignore twinfanMN Report Abuse ok
DustyHorse Champion Author Virginia Posts:6,093 Points:1,393,570 Joined:Oct 2008	Message Posted: Mar 3, 2012 11:38:15 PM Ignore DustyHorse Report Abuse At least we export something.
JettaKnight Champion Author Toronto Posts:1,518 Points:2,103,345 Joined:Nov 2005	Message Posted: Mar 3, 2012 11:36:23 PM Ignore JettaKnight Report Abuse 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.
Fedorov91 Champion Author Tampa Posts:1,465 Points:881,585 Joined:Oct 2008	Message Posted: Mar 3, 2012 11:33:53 PM Ignore Fedorov91 Report Abuse Every gallon of gas we export should reduce the price of a gallon domestically...wake up people.. vote republican
abcdMA Champion Author Worcester Posts:7,932 Points:1,576,930 Joined:Nov 2008	Message Posted: Mar 3, 2012 11:31:55 PM Ignore abcdMA Report Abuse oil consumption is down due to the economy, and selling to the highest bidder is standard
69Bonne Champion Author Gary Posts:1,160 Points:475,100 Joined:Sep 2005	Message Posted: Mar 3, 2012 11:30:00 PM Ignore 69Bonne Report Abuse Sell to the highest bidder, keeping our prices artificially higher....
skyking19 Champion Author Little Rock Posts:2,006 Points:1,700,790 Joined:Jan 2007	Message Posted: Mar 3, 2012 11:29:13 PM Ignore skyking19 Report Abuse Seems like we should be cranking up our refineries instead of shutting them down.
RecountFL Champion Author Miami Posts:8,754 Points:1,503,835 Joined:Jun 2008	Message Posted: Mar 3, 2012 11:26:33 PM Ignore RecountFL Report Abuse 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.
Shelbruk Rookie Author Arkansas Posts:52 Points:23,035 Joined:Jan 2012	Message Posted: Mar 3, 2012 11:25:54 PM Ignore Shelbruk Report Abuse 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......... >:(
jamieg2012 Veteran Author Sioux Falls Posts:286 Points:11,385 Joined:Jan 2012	Message Posted: Mar 3, 2012 11:23:30 PM Ignore jamieg2012 Report Abuse 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
carloco75 Champion Author Richmond Posts:3,721 Points:602,215 Joined:Oct 2010	Message Posted: Mar 3, 2012 11:22:16 PM Ignore carloco75 Report Abuse More bull sit...
mstearno Champion Author Dayton Posts:8,075 Points:1,733,165 Joined:Jan 2008	Message Posted: Mar 3, 2012 11:22:03 PM Ignore mstearno Report Abuse no jobs less driving that's how socialism works
kcboy Champion Author Utah Posts:3,978 Points:1,509,750 Joined:Jun 2005	Message Posted: Mar 3, 2012 11:18:04 PM Ignore kcboy Report Abuse Interesting
EmperorsFinest Champion Author Chicago Posts:1,564 Points:340,870 Joined:Jul 2011	Message Posted: Mar 3, 2012 11:16:41 PM Ignore EmperorsFinest Report Abuse We should not be dependant on other countries then.
kzrooster Champion Author Kalamazoo Posts:2,395 Points:518,700 Joined:Nov 2011	Message Posted: Mar 3, 2012 11:16:40 PM Ignore kzrooster Report Abuse so why is our gas prices so high??
colaguy Champion Author Columbia Posts:3,181 Points:1,009,925 Joined:Oct 2008	Message Posted: Mar 3, 2012 11:08:19 PM Ignore colaguy Report Abuse not enough refineries in US
Kaiyne Champion Author Chicago Posts:2,349 Points:474,665 Joined:Feb 2011	Message Posted: Mar 3, 2012 11:06:53 PM Ignore Kaiyne Report Abuse I definately agree with SBlouch
freerobert Champion Author California Posts:1,162 Points:1,242,550 Joined:Mar 2008	Message Posted: Mar 3, 2012 11:02:25 PM Ignore freerobert Report Abuse As the world turns.
B_550i All-Star Author Seattle Posts:720 Points:192,945 Joined:Aug 2011	Message Posted: Mar 3, 2012 11:01:03 PM Ignore B_550i Report Abuse K
carnifolks Veteran Author New Jersey Posts:354 Points:357,560 Joined:Sep 2006	Message Posted: Mar 3, 2012 11:00:36 PM Ignore carnifolks Report Abuse My wife is a bitch
camel1 Champion Author Minnesota Posts:8,275 Points:2,267,590 Joined:Jul 2006	Message Posted: Mar 3, 2012 10:58:34 PM Ignore camel1 Report Abuse It is a start
VetteFan Champion Author Indiana Posts:9,749 Points:2,030,430 Joined:Aug 2005	Message Posted: Mar 3, 2012 10:57:26 PM Ignore VetteFan Report Abuse O.K.