Record U.S. Oil EXPORTS- The grand deception

This is not breaking news, but I think the American people deserve to know
how deceptive the oil industry has been manipulating the truth.
uk.reuters.com...
[insert]
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."[insert]

Thanks for posting this. I can't understand why we are exporting ANY oil. Not when it's our own and we can price it as we like.

Here we are paying unprecedented amounts for a resource we own, all so we don't upset OPEC? Man these businessmen have our country over a barrel and they won't lift a finger to help us out. Yet we let them run our country and our lives.

reply to post by FallenFromTheTree


So you expect U.S. oil companies to isolate themselves from the global market?

Hmmm.... I wonder if this (or some of this) is due to the Spalsh & Dash scam that is milking the US taxpayer.

newenergynews.blogspot.com...

www.treehugger.com...

chemicallygreen.com...

Thursday, June 19, 2008
MORE “SPLASH AND DASH” BIODIESEL SCAM

International biodiesel producers hustled the U.S. taxpayer for $300 million dollars last year and are likely to do so to the tune of $600 million this year. They are taking advantage of a loophole in the U.S. subsidy of biodiesel popularly and disdainfully referred to as splash and dash. (See EU-U.S. BIOFUEL TRADE WAR?)

By adding 9000 gallons of U.S.-produced biodiesel to a 9 million gallon tankerful of foreign biodiesel, the foreign producers earn U.S. tax credits for the whole 9,009,000 gallons.

Congress cannot get the loophole closed because the National Biodiesel Board wants to sustain the subsidy to U.S. growers. The IRS cannot figure out which biodiesel tankers coming in and out of U.S. ports are splashing and dashing and which are doing legitimate business.

One thing is clear: More biodiesel is being exported from the U.S. than is being produced in the country so somebody is sending out millions and millions of gallons of biodiesel represented as U.S. product (and therefore earning hundreds of millions of dollars in U.S. tax credits) that is in fact foreign-produced biodiesel.

Having earned the U.S. subsidy, the tankers head to Europe where they dump their product at below market prices, thereby undercutting European producers and driving them out of the market.

Congressman John Shadegg (R-Ariz.): “Taxpayers should be outraged because they are subsidizing foreign consumers of biodiesel…That is insane, and it’s a ridiculous burden to put on American taxpayers.”

On the other hand, the biodiesel board sees an upside.

Manning Feraci, vice president of federal affairs at the National Biodiesel Board: “We’re creating jobs in rural America. We support over 20,000 jobs. And these are green jobs that are helping to address our energy security needs…”

If the U.S. Congress cannot resolve the matter, the E.U. parliament may. Their Trade Commissioner has already requested an investigation and is threatening a retaliatory tariff.

Ahh.. I see.. this is "REFINED" product.

This makes sense... we have a huge glut of gasoline and are running out of storage space... what most people don't know is the shortages we have are jet and diesel fuel.

The "former" CEO of Shell was on the Glen Beck show a couple of weeks ago and revealed that fact.

Here is the deal, you get specific percentages of product out of a barrel of oil depending on the grade. For example purposes we will say 60% gasoline, 20 % Diesel, 15% Jet fuel, 5% side products for a particular "grade" of crude.

So, we have been in shortage of Diesel and Jet fuel and having a huge glut of gasoline which is stored until it is sold or "exported" so this make perfect sense. We are dumping Gasoline to Central America.

But your right, Oil companies are not Saints in this matter but they are also not "American Only" companies either. The American Citizens best interest was sold down the river of "internationalist profit" years ago.

Maybe we are selling oil to places where it is more expensive than here in the US... Maybe the oil that we buy we can get for cheaper that way than we could by getting it locally... The US oil companies probably want to charge too much for their oil, and so we have to get it elsewhere cuz its cheaper. What'd'ya think?