Gasoline: The new big U.S. export
Steve Hargreaves
CNN Money, 5 December 2011
NEW YORK (CNNMoney) — The United States is awash in gasoline. So much so, in fact, that the country is exporting a record amount of it.
The country exported 430,000 more barrels of gasoline a day than it imported in September, according to the U.S. Energy Information Administration. That is about twice the amount at the start of the year, and experts and industry insiders say the trend is here to stay.
The United States began exporting gas in late 2008. For decades prior, starting in 1960, the country used all the gas it produced here plus had to import gas from places in Europe.
But demand for gas has dropped nearly 10% in recent years. It went from a peak of 9.6 million barrels a day in 2007 to 8.8 million barrels today, according to the EIA.
Phi Beta Iota: The entire Tar Sands scheme is a scam on the US public, and atrocity against the Canadian public. In Canada, they are proposing to use precious water they do not have to spare, to flush tar we do not need out of the sands; in the US, there is no need for the tar sands as the sleazy campaigns suggest, the oil companies want the tar sands so they can externalize the costs to the US public and privatize the profits of exporting the gasoline.
