Gulf Coast Shipping Boom: U.S. Oil Exports Pour Into Worldwide Markets

Reuters via gCaptain ^ | Catherine Ngai, Libby George and Florence Tan

[Oatka]

[Reuters] In the two years since Washington lifted a 40-year ban on oil exports, tankers filled with U.S. crude have landed in more than 30 countries, ranging from massive economies like China and India to tiny Togo.

The repeal has unleashed a flood of U.S. shale oil, undercutting global crude prices, eroding the clout of the Organization of Petroleum Exporting Countries (OPEC) and seizing market share from many of its member countries.

[Oatka]

More winning.

[DannyTN]

I’m not sure this is a wise move.

There’s an argument that says we should keep ours in the ground or use it at home.

[Mouton]

We are still importing Oil nonetheless.

[fishtank]

[ryderann]

Does anyone know if Obama drained down any of our strategic oil supply? If so, has it been replenished?

[ilovesarah2012]

https://www.forbes.com/sites/jimgorzelany/2018/01/24/expect-gas-prices-to-rise-this-year-but-by-how-much/

[JerryBlackwell]

Better to make money on our oil than send our money to third world s**t holes.

[gandalftb]

We could sell a lot more to Asia if we had many more refineries in the W Coast. WA just denied a permit that would build a big one.

[henkster]

I would rather be an industrial economy exporting manufactured goods made inexpensive by having our own energy resources than being an extractive economy. Lots more wealth in the former.

[snarkytart]

yes, why are gas prices high.

[KeyLargo]

Great deal for Gulf States now that California wants ban on off shore drilling.

ENVIRONMENT 02/09/2018 08:22 am ET
California To Donald Trump On Offshore Drilling: Nope
A state commission has told the White House it won’t approve pipeline permits.
By Mary Papenfuss

https://www.huffingtonpost.com/entry/california-offshore-drilling_us_5a7d14d6e4b044b3821baf1a

[bert]

We already export lots of manufactured goods. We do not export commodity manufactured products not competitive on the world market. We import them

[deport]

727 million barrels — Capacity
665.1 million Barrels — Capacity as of Feb. 2, 2018

https://www.spr.doe.gov/dir/dir.html

[Rashputin]

Actually, if you go back through history you'll find that during the Eisenhower Administration there was a heated debate over whether oil was a fossil fuel or the result of ongoing Abiotic processes. Eisenhower decided there wasn't any way to determine the answer for sure and unless and until it the Abiotic process school of thought could be proved, the best policy for the US was, "use their first"

"Leave it in the ground" only works, though, when suppliers don't have your jewels in a vise.

We let ourselves get way too dependent on imports, to the point that high energy costs have been a major factor in slowing growth.

[Original Lurker]

I’ll wager they’ll be $4.00 a gallon before the end of summer.
Just drove past a QT (in Atlanta) and premium was $2.96.
(I use premium)

[ryderann]

Many thanks.

[americas.best.days...]

Great poster. Thanks.

[Wonder Warthog]

"There’s an argument that says we should keep ours in the ground or use it at home."

Export the oil, use the natural gas at home. Best of both worlds. Shale reserves of both are huge.

[Former Proud Canadian]

If the US is producing enough oil to export, and it is, the SPR is no longer needed for domestic oil security.

Furthermore, Canada and the US produce over 14 million barrels of oil a day. No other single country produces as much oil. The US is on track to pump more oil than Saudi Arabia by the end of the year.

[ryderann]

Allll right!