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In Reply to: RE: Why wouldn't resulting gasoline be exported overseas where prices are much higher... posted by Steve O on April 15, 2014 at 06:31:31
About 365.65 million gallons (or 8.71 million barrels) on a daily average.
However, due to the vehicles gas mileage efficiency in the last 6 years offset this demand as the overall gasoline consumption has been reduced to about 6% less than the record high of about 142.35 billion gallons (or 3.39 billion barrels) consumed in 2007.
The U.S. exports very little crude oil (0.4% of gross supply in 2012,). Additional crude supplies via Keystone pipeline (domestic or from Canada) would serve to reduce imports from other nations and/or offset declining supplies from Mexico and Venezuela.
Also, another thing to note if the U.S. producers wants to export more crude oil overseas they need to receive a license from the Commerce Department before crude can be exported, and these licenses are not typically issued.
If a thing's worth doing, it's worth doing well
(Proverb)
Follow Ups:
...gasoline IS being exported from US.
on the domestic gasoline prices at the pump as in the overall scheme of things it only averages at about 13 million barrels/month.
If a thing's worth doing, it's worth doing well
(Proverb)
Edits: 04/15/14
...I'd link them but archived articles live behind a very steep paywall. Try the linked chart from US govt. 16.4 million bbls in Jan / 14 alone. That's enough to affect markets.
Later!
as it should have said 13 MMBBLS/M
If a thing's worth doing, it's worth doing well
(Proverb)
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