Thursday, October 2, 2014

U.S. NOW EXPORTING OIL NEAR RECORD LEVELS

In July, the U.S. exported 441,000 bbl of oil a day.*  The forecast is for the U.S. to export a million barrels a day, exceeding our 1957 export peak!  Also a forecast is that we will be at record oil exports by the end of the year.

If we are exporting oil, apparently we are now independent of importing significant amounts of oil so we then can get out of the Middle East - Right?  We don't need the Keystone XL Pipeline.  We don't need to explore ANWAR for oil in Alaska.  We don't need to import any oil from Canada.  Heck, most of our exports are TO Canada (93%).*  If we are more than selfsufficent in oil so that we can export it, we can stop the expansion of fracking and polluting our land.

If we are not self sufficient in oil, then we should not be exporting it. I'm finding this to be very depressing.

* http://www.bloomberg.com/news/2014-09-30/rising-u-s-crude-exports-move-closer-to-1957-record.html?wpisrc=nl-wonkbk&wpmm=1

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