Boatjob1

"Well I was simply stating that it is one of the few options"

I understand completely, but if people only knew how much crude we are exporting out of this country every week, tapping the reserves would be a mute issue. Thus a 110% political move, or the powers that be are just plain ignorant to the facts. I say it's a feel good decision to appease the uninformed masses.

Interesting stats on the reserves. Thanks for posting........

arthurpete

We (US govt) are not exporting the oil, in fact, very little gasoline is exported. It is primarily distillate fuels. Regardless, the govt is not in control of this supply. Private corporations with familiar names like Koch Industries are.

They are exporting oil because they have become relatively more efficient at refining and can be competitive on the open market, not to mention that weak domestic demand is helping to fuel greater exports.

Some folks talk as if we should nationalize the industry. Especially those that point the finger at the president, what could he do?

__________________
I know the human being and fish can coexist peacefully."[9] — Saginaw, Michigan; September 29, 2000

Cracker

Dont think Obama will be getting any praise till him and his famiy are walking down the stairs of the white house with their bags in hand.....

screwballl

Wirelessly posted

look up how many refineries have recently shut down or are in the process all due to Butthead Barrys policies... prices will be skyrocketing any day now.

Boatjob1

U.S. Exports of Crude Oil (Thousand Barrels)

2010
Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
1,008 1621 1395 1095 1121 937 2,140 1,113 1,838 728 953 1,249

2011
2,228 847 1,126 1,227 1,148 1,066 2,263 1,047 1,065 1,568 1,928 1,646

2012
1,743 1,721 1,851

WW2

Proof? I know that is what the refiners are saying. Where are the new regulations that Obama set?

Boatjob1

Not sure if the Messiah can take the blame for this one (believe it or not).
Good article on the subject.
http://www.businessweek.com/articles...oil-refineries

Just in case WW thinks this is BS and wants to argue about the article, here is the authors name and e-mail, write him about it. Matthew Philips , mphilips3@bloomberg.net

arthurpete

Im not sure how else to say it. Oil is being exported out of the United States but the US govt is not exporting it. It is being sold be private corporations. The only crude the US govt can dictate where and what happens to it is the royalty crude that it receives as lease payments.

Congress can attempt to hinder exportation by raising export taxes on crude but that is about it.

here is a link that discusses the myth of expanding exports and rising domestic prices......... http://www.eia.gov/oog/info/twip/twi...twipprint.html

"growth in U.S. gasoline exports does not itself translate into higher prices for U.S. consumers. Rather, export markets are providing an outlet for refiners who would otherwise have faced margins that incentivized run cuts, or possibly even shutdowns, as decreased domestic demand had created excess refining capacity.”

__________________
I know the human being and fish can coexist peacefully."[9] — Saginaw, Michigan; September 29, 2000

arthurpete

Im guessing maybe the Energy Independence Act a few years ago that set national avg mpg at 35 mpg is driving down demand and therefore reducing refineries domestic margins, possibly causing some to shutdown or look elsewhere. And it looks like they are having no problem looking elsewhere due to the expansion into competitive markets and the resutling increase in exports.

__________________
I know the human being and fish can coexist peacefully."[9] — Saginaw, Michigan; September 29, 2000