This sounds right to me. There is a lot of finger wagging at Iran for not having domestic capacity for petroleum refinement even though they are a crude exporter. So I guess capacity works both ways. The other thing I know is currently a hot topic is natural gas production. I believe the US has increased its production quite a bit lately and is likely to have a lot more in the future.
On Feb 28, 2012, at 8:40 PM, Hugh Trenchard wrote: > Just as a brief follow up, it seems to me one of the major factors in this is > that U.S. refining capacity has increased so that there is less need to > import refined petroleum products. I haven't researched this in any detail > and I stand to be corrected on all my assertions, but it seems to me it's not > as though there are any new sources of US domestic supply or significant > increase in technological ability to extract previously hard to obtain oil, > and likely only marginal reduction in demand. There may be some, but my > thought is the hype on this is rather misleading. Again I don't have the > figures, but my guess is that the vast majority of US crude imports likely > still come from Canada, Mexico, and other western hemisphere nations, which > the U.S. refining companies refine and re-sell as petroleum products, both > for domestic use and to export abroad. > > The link below shows some of the definitions used in the petroleum/fuels > industry. From my skeptical standpoint, the hype could mislead the American > public toward a false sense of security. I suppose if it stimulates the > economy, then that's good, but if it gets people guzzling more gas, then it's > really just a fool's game. > > http://www.eia.gov/dnav/pet/TblDefs/pet_move_imp_tbldef2.asp > > From the link: "Petroleum products are obtained from the processing of crude > oil (including lease condensate), natural gas, and other hydrocarbon > compounds. Petroleum products include unfinished oils, liquefied petroleum > gases, pentanes plus, aviation gasoline, motor gasoline, naphtha-type jet > fuel, kerosene-type jet fuel, kerosene, distillate fuel oil, residual fuel > oil, petrochemical feedstocks, special naphthas, lubricants, waxes, petroleum > coke, asphalt, road oil, still gas, and miscellaneous products." > ----- Original Message ----- > From: Russ Abbott > To: The Friday Morning Applied Complexity Coffee Group > Cc: Hugh Trenchard > Sent: Monday, February 27, 2012 7:47 PM > Subject: Re: [FRIAM] A Good Question - Should the United States join OPEC? > > We exported more petroleum products, not more oil. We are still net oil > importers. > > -- Russ Abbott > _____________________________________________ > Professor, Computer Science > California State University, Los Angeles > > Google voice: 747-999-5105 > Google+: https://plus.google.com/114865618166480775623/ > vita: http://sites.google.com/site/russabbott/ > _____________________________________________ > > > > On Mon, Feb 27, 2012 at 7:42 PM, Owen Densmore <o...@backspaces.net> wrote: > From > http://www.huffingtonpost.com/2011/05/03/us-becomes-net-exporter-o_n_857085.html > > While some Americans cut back on driving as gas prices soar, the U.S. has > become a net exporter of fuel for the first time in nearly 20 years. > > According to data from the Energy Department,starting last November -- with > the exception of the month of January -- the U.S. began exporting more > petroleum products than it imported. > > > This is not the source I got the idea from, its been in the news quite a bit > lately, this is just the first google hit I tried. > > The theory is that between the recession (thus less use of fuel, both supply > side and demand), conservation/efficiency, and more recent hi-tech oil/gas > exploitation (horizontal drilling), the US consumption has dropped and the > production has increased, causing a net surplus. > > It certainly is surprising. > > -- Owen > > On Mon, Feb 27, 2012 at 6:54 PM, Hugh Trenchard <htrench...@shaw.ca> wrote: > Where did you see that the US is now a net oil exporter? The attachments > below are 2008 and 2009, but I suspect the picture hasn't changed much since > then (US imports 75% of its oil for consumption). I believe I saw reference > to "potential exporter" in the NY Times article. > > http://www.washingtonpost.com/wp-dyn/content/graphic/2008/07/26/GR2008072601599.html > > http://www.flickr.com/photos/gdsdigital/4056035804/ > ----- Original Message ----- > From: Owen Densmore > To: Complexity Coffee Group > Sent: Monday, February 27, 2012 9:14 AM > Subject: [FRIAM] A Good Question - Should the United States join OPEC? > > Now for something completely different: > http://www.nytimes.com/2012/02/26/opinion/sunday/friedman-a-good-question.html > Basically whether or not the US should join OPEC now that it is a net oil > exporter. > > Insane as it sounds, there is some reason in the discussion. > > -- Owen > > > ============================================================ > FRIAM Applied Complexity Group listserv > Meets Fridays 9a-11:30 at cafe at St. John's College > lectures, archives, unsubscribe, maps at http://www.friam.org > > > ============================================================ > FRIAM Applied Complexity Group listserv > Meets Fridays 9a-11:30 at cafe at St. John's College > lectures, archives, unsubscribe, maps at http://www.friam.org > > > ============================================================ > FRIAM Applied Complexity Group listserv > Meets Fridays 9a-11:30 at cafe at St. John's College > lectures, archives, unsubscribe, maps at http://www.friam.org > > ============================================================ > FRIAM Applied Complexity Group listserv > Meets Fridays 9a-11:30 at cafe at St. John's College > lectures, archives, unsubscribe, maps at http://www.friam.org
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