04 August 2008

The Next Time You're at the Pump for a Fillup

something to think about the next time you're at the pump.
it only takes a couple or few minutes, which is just about the same amount of time required to put in $40 to $60 worth of gasoline, as the new electronic gas stations can now flow $20 worth of gas into your tank in just about 1 minute.

U.S. Oil/Gas Refiners now EXPORT half as much refined gasoline/diesel fuel each day as it IMPORTS from other countries. (a doubling of US exports of gasoline a year ago, and a seven-fold increase in diesel fuel exports)

1.6 million barrels a day are exported, 3.2 million barrels a day are imported.

1.6 million barrels a day equals 9% of US refining capacity, but US refineries are operating at 85% of their full capability (for various reasons, some valid, some?) which means that 1.6 million barrels a day in exports is roughly equal to 10.7 % of the 14.96 million barrels a day actually being refined in the U.S.

the 1.6 million barrels a day being exported (on average during the first four months of 2008) represents a 33% increase over the same average from the first four months of 2007.

and where is that Oil/Gas going? Mexico, Canada, Chile, Singapore and Brazil.

most curious of all, (or perhaps not when you think about it) is that this "NEWS" comes from the British section of Reuters Wire Services. I wonder if the subject of exporting refined US Oil/Gas will be a topic in the upcoming Presidential debates, alongside increasing offshore and Alaska drilling, and tire gauges ?

(not to mention the billions, dozens or scores(?), of dollars worth of tax breaks and outright subsidies annually to the OIL companies... nobody seems to have any idea how much the total is.. curiously)

time will tell.