Comments on: U.S. energy boom spurs economic vs political clash Mon, 26 Sep 2016 03:26:00 +0000 hourly 1 By: WJL Sun, 21 Oct 2012 06:56:58 +0000 This is actually a good opportunity to amend America’s foreign policy. Curb schemes to install puppet governments in foreign energy rich countries, reduce military expenditure and propaganda campaigns attacking other nations. Use the savings to address the deficit and invest into education and alternative energy systems.

The domestic energy producers will benefit, energy import bill will drop and anti American feelings will subside all over the world.

By: hopesand1 Fri, 19 Oct 2012 09:51:39 +0000 Re: Why Doesn’t the United States Export More Oil?

Well, perhaps because the latest EIA data show US crude oil production of 6.6 mbpd (million barrels per day), versus crude oil inputs into US refineries of 14.8 mbpd, resulting in US net crude oil imports of about 8.2 mbpd, with overall net liquids imports of 7.1 mbpd.

Incidentally, because of a global bidding war for declining net oil exports, US consumers already can’t afford to buy all of the output from US refineries, and the US is a net exporter of refined petroleum products, but we remain the world’s largest overall net liquids importer (although China is closing fast).

This has to be the silliest article regarding energy that I have read since a Bloomberg column a couple of years ago talking about Brazil–a net oil importer–taking market share away from OPEC.

The fact is that the US, and other oil importing OECD countries, are being gradually shut out of the global oil market, as developing countries, led by China, consume–so far at least–an increasing share of a declining volume of Global Net Exports of oil (GNE). At the 2005 to 2011 rate of decline in the ratio of GNE to Chindia’s Net Imports (CNI), the Chindia region alone would theoretically consume 100% of GNE in only 18 years. While I don’t think that this will actually happen, the fact remains that the rate of decline in the GNE/CNI raito has recently accelerated.

For more info, you can search for: Peak Oil Versus Peak Exports.