Bloomberg reports that the U.S. now exports more oil products than it imports. During 2011, America’s exports of
gasoline, diesel fuel, and other products exceeded imports of those products by
an average of 439,000 barrels each day.
The last time America was a net exporter of oil was in 1949, and 2011
marks the first year in which crude oil output rose above 2 billion
barrels. In its analysis of the
oil sector, Citigroup Inc. proclaims North America as “the new Middle East”
with regards to energy production this decade. Citigroup points to increased
oil production in Canada and Mexico as the basis for this claim, and they
additionally believe this jump in production will be sustainable in the coming
years.
About TeachingwithData.org
TeachingWithData.org is a partnership between the Inter-university Consortium for Political and Social Research (ICPSR) and the Social Science Data Analysis Network (SSDAN), both at the University of Michigan. The project is funded by NSF Award 0840642, George Alter (ICPSR), PI and William Frey (SSDAN), co-PI.
Translate
Search This Blog
Popular Posts
-
A report published this spring by the Pew Research Center finds that 24% of teens go online “almost constantly . In addition Pew also rep...
-
On May 21, as a step in implementing the Improving Free Inquiry, Transparency, and Accountability at Colleges and Universities Executive Ord...
-
If you’ve hit the point in the semester where your classes have fallen into routines and you’d like to spice things up a bit, this webinar i...
-
A study recently featured in the Journal of Comparative Economics examines income inequality in urban China. Capital income increased d...
-
According to the Washington Post, since 2009, the unemployment rate in the United States has dropped by 50% . The traditional...
You people really need to learn the difference between crude oil and refined oil products. The U.S. is __NOT__ a net exporter of oil (and hasn't been since 1949). In fact it still relies on imports for about 11 million of the 18 million barrels of crude it consumes each day.
ReplyDeleteThe U.S. is, however, a net exporter of refined petroleum products (gasoline, diesel, etc.).
http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MTPEXUS2&f=A