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United States

Journal chill's Journal: United States as a Net Fuel Exporter 1

The United States is on track this year to become a net exporter of oil-based fuels for the first time since 1949. According to data released by the U.S. Energy Information Administration on Tuesday, the U.S. sent abroad 753.4 million barrels of everything from gasoline to jet fuel in the first nine months of this year, while it imported 689.4 million barrels.

The U.S. was a net exporter of petroleum products in six of the first nine months this year, and the trend accelerated in the third quarter, with September data released Tuesday showing net exports of 919,000 barrels per day, more than any month this year.

It should be noted that this article is about refined petroleum products, and not crude oil. The United States imports about 9 million bbls per day of crude oil, which is 49% of total daily consumption. Also, the refining of crude oil by about 6%. So a single 42 gallon barrel of crude will refine out to 45 gallons of various distillates.

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United States as a Net Fuel Exporter

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"This is lemma 1.1. We start a new chapter so the numbers all go back to one." -- Prof. Seager, C&O 351