Posted on 06/16/2022 2:28:10 PM PDT by FarCenter
U.S. energy exports are booming at the very time domestic gasoline and diesel prices are at or near their peaks. With America’s fuel prices expected to rise even further, the “resource nationalism” debate — should we be exporting commodities we need? — is heating up.
According to new tanker cargo volume data from Kpler, U.S. crude exports averaged 3.13 million barrels/day (b/d) in January-May. That’s the best first five months of the year ever. Exports of clean petroleum products — including the diesel and gasoline in such high demand domestically — averaged 2.32 million b/d. That’s the best first five months since 2019, pre-COVID.
U.S. gasoline, diesel and jet fuel markets are tight because seaborne exports are now strong whereas U.S. refining capacity is down 860,000 b/d relative to late 2019, Reid I’Anson, senior commodity analyst at Kpler, told American Shipper.
“This is a textbook case of a refinery sector that is running hard and yet does not have the capacity to meet demand,” he said. “This is not a problem easily fixed.”
(Excerpt) Read more at freightwaves.com ...
A lot of that oil is light and we don’t have refineries that can handle it.
What is going to happen if a major hurricane strikes the center of our oil refining capacity like it did a few years ago?
Anybody ever consider that?
This cannot be a new phenomenon.....The light oil isn’t new.
Biden will be right on that ... after it happens.
Afghan withdrawal
Baby formula
Inflation
Fertilizer
Light crude is priced higher.
Yes, it is. The Eagle Ford Play of South Texas.
But the majority of the crude that we refined was heavier. The light crude comes primarily from the Eagle Ford in South Texas.
Are we down around 200 million barrels per day from two years ago?
We are currently just over 100 million bpd, up from a low of just over 90 million bpd during Covid.
The questions is, can we survive 2.5 more years of a Biden/Kamala Administration? I am starting to doubt it.
You know...as bastardly as it sounds...I almost wish it would happen.
The only way these assholes get even a hint is if it gets so bad that they are afraid to even step outside.
I have doubts if we make it till mid terms.
Agree.
Are we down around 200 million barrels per day from two years ago?
We peaked at 12,966 thousand barrels in Nov 2019. In Mar 2022 it was 11,655. The difference is about 43 thousand barrels per day.
Can you build a refinery in the US? Under Biden, can you even expand an existing refinery?
No, but you could stop exporting refined product to Europe.
Building a refinery is an expensive and long process. Oil companies are unwilling to do it while there is pressure from the eco-terrorists/DemoNazis to eliminate fossil fuels.
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