9/10/11, "U.S. Exporting More Gasoline, Diesel Fuel," ConsumerAffairs.com
"While world crude oil prices have fallen in the last two months on concerns the economy is slowing, the retail price of gasoline and diesel fuel has remained relatively high.
A number of reasons have been offered, including weather-related problems at refineries. But there may also be another reason. U.S. refiners, it turns out, are shipping increasingly large amounts of U.S. oil products overseas.
In its latest report, the U.S. Energy Information Administration notes U.S. refiners last year shipped 656,000 barrels per day of distillate fuel, which includes heating oil and diesel fuel, overseas. During the first six months of this year, diesel fuel exports averaged 730,000 barrels per day – nearly a one-third increase over the previous year.U.S. stockpiles of diesel fuel, according to the report, are now 11 percent below where they were a year ago.
Big Increase in Gasoline Exports
The U.S. is also increasing its exports of refined gasoline. U.S.-based refiners are exporting 395,000 barrels per day to other countries. The government report shows those exports have almost doubled since the start of the summer,
- when coincidently, domestic gasoline prices started to fall.
While the U.S. is sending its own oil products abroad, it obviously has less need to import oil from other countries. Economist Joel Naroff, of Naroff Economic Advisors, in Holland, Pa., says that's one big reason the U.S. trade deficit dramatically shrank in July.
“The decline in imports was largely driven by petroleum,” Naroff said....
Oil refiners are private companies, free to sell their products in a global economy to the highest bidder, wherever they can find a market. But one is left to wonder what U.S. gasoline and diesel fuel prices would be if U.S. petroleum exports remained at normal levels."
It should be obvious our destruction is deliberate:
5/27/11, "Gas tanks are draining family budgets," AP, J. Fahey, via MSNBC
"Every 50-cent jump in the cost of gasoline takes $70 billion out of the U.S. economy over the course of a year, Hamilton says. That's about one half of one percent
- of gross domestic product."...(parag. 13)
There is no difference between our elected officials and third world gangs. ed.