Gasoline--America's newest export
Dec 05, 2011
Oil shortages? Not here in America. Not any more. We are now exporting gasoline to South American countries. With all the goods we import from other countries, due to the low cost of foreign labor and our "free trade" policies, it appears that we have finally found something worth exporting.
At least until those other countries can afford to build their own refineries.
It's good to report some good news for a change.
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 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.
Dr. Stephen Jones