Posted on 08/06/2012 6:16:00 AM PDT by thackney
Actually, we already refine more petroleum product than we use. The US refinery capacity exceeds the refined petroleum product demand.
U. S. Operable Crude Oil Distillation Capacity
http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WOCLEUS2&f=4
17.23 million barrels per day (MMBPD)
U.S. Product Supplied of Finished Petroleum Products
http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MTPUPUS2&f=M
16.54 MMBPD
Sometimes you will see a larger number used describe US petroleum use (18.71 MMBPD), this includes natural gas liquids and exceeds the refined portion.
Breakdown of US Petroleum Product Supplied
http://www.eia.gov/dnav/pet/pet_cons_psup_dc_nus_mbblpd_m.htm
What we need most is an increase in our domestic oil production. We still import more crude oil than we produce ourselves.
US Crude Oil Production
http://www.eia.gov/dnav/pet/pet_crd_crpdn_adc_mbblpd_m.htm
6.27 MMBPD
U.S. Crude Oil Imports by Country of Origin
http://www.eia.gov/dnav/pet/pet_move_impcus_a2_nus_epc0_im0_mbblpd_m.htm
8.91 MMBPD
The decades of expanding and upgrading our existing refineries, combined with our reduced domestic demand, raised our refinery capacity above our demand a year or so ago. It is far cheaper to expand an existing refinery than build a new one. And it is far easier to get expansion permits than new ones.
$186,327,000,000,000.00? That's a pretty big number. How does that compare to the country's GNP?
Good catch, looks like the million description does not belong.
Tell me about it, I lived in Houston in the early 80’s, and then moved to Alaska.
I know Longview fairly decently, I lived in Marshall just south of it for an oil drilling company in 1984, not a bad place to live, living there is dirt cheap. Wages suck though.
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