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NEW YORK (AP) — For the first time, the top export of the United States, the world's biggest gas guzzler, is — wait for it — fuel.
Measured in dollars, the nation is on pace this year to ship more gasoline, diesel, and jet fuel than any other single export, according to U.S. Census data going back to 1990. It will also be the first year in more than 60 that America has been a net exporter of these fuels.
Just how big of a shift is this? A decade ago, fuel wasn't even among the top 25 exports. And for the last five years, America's top export was aircraft.
The trend is significant because for decades the U.S. has relied on huge imports of fuel from Europe in order to meet demand. It only reinforced the image of America as an energy hog. And up until a few years ago, whenever gasoline prices climbed, there were complaints in Congress that U.S. refiners were not growing quickly enough to satisfy domestic demand; that controversy would appear to be over.
Still, the U.S. is nowhere close to energy independence. America is still the world's largest importer of crude oil. From January to October, the country imported 2.7 billion barrels of oil worth roughly $280 billion.
Fuel exports, worth an estimated $88 billion in 2011, have surged for two reasons:
— Crude oil, the raw material from which gasoline and other refined products are made, is a lot more expensive. Oil prices averaged $95 a barrel in 2011, while gasoline averaged $3.52 a gallon — a record. A decade ago oil averaged $26 a barrel, while gasoline averaged $1.44 a gallon.
— The volume of fuel exports is rising. The U.S. is using less fuel because of a weak economy and more efficient cars and trucks. That allows refiners to sell more fuel to rapidly growing economies in Latin America, for example. In 2011, U.S. refiners exported 117 million gallons per day of gasoline, diesel, jet fuel and other petroleum products, up from 40 million gallons per day a decade earlier.
and that is exactly why a lot of people hate Americans.
Originally posted by theBigToe
reply to post by mileslong54
and its time to just put the truth out there. The U.S. and its allies might be criminals, but their way of life is still far superior to anything else the worlds governments have to offer us. Heres another newsflash for you - Irans oil, it belongs to us. The worlds oil belongs to us. We are still, whether you punks want to believe it or not, the strongest nation on the Earth and nobody, not big bad China and its ally to the north, have any capability to successfully defeat the U.S. and its NATO allies. Now you combine our economic crisis with Irans decades old atrocious violation of Human rights and you have yourself every reason to steal their oil. Go ahead and rule your country with fascism, well topple it when we need to.
The U.S. is the only country in the world with an adequate NAVY capable of launching massive insurgency wars far from its homeland and then sustaining that war. China has a big infantry, very cool stuff, they can disable our satellites (maybe) with some lasers, and they have nuclear weapons. Very cool stuff. Im not scared. We have aircraft carriers and things that we can actually use in an offensive war. Now that this is settled and we all know the truth, society can continue and I can tivo the next episode of the Kardashians. Peace to all of you. Moi!
Originally posted by theBigToe
reply to post by mileslong54
Hows a renewable source of energy propaganda? lol....
A carbon credit is a generic term for any tradable certificate or permit representing the right to emit one tonne of carbon dioxide or the mass of another greenhouse gas with a carbon dioxide equivalent (tCO2e) equivalent to one tonne of carbon dioxide.[1][2][3]