U.S. Now Exports More Petroleum Products Than It Imports

Petroleum products are defined as refinery products, such as fuel. The U.S. passed a threshold in November. The EIA recorded 689.4 million barrels of oil refinery products imported and 753.4 million barrels exported in the first 9 months of 2011.
December 18, 2011, 5am PST | Irvin Dawid
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The U.S. Energy Information Administration is the source for "independent and impartial energy information" in the U.S. Petroleum products includes all refinery products, particularly gasoline, diesel, and jet fuels and "petroleum coke, which is used to make steel".

"The nation is now on track to be a net exporter of petroleum products in 2011 for the first time in 62 years. As recently as 2005, the U.S. imported nearly 900 million barrels more of petroleum products than it exported."

This 'petroleum surplus' should not be misinterpreted. "So long as the U.S. remains the world's biggest net importer of crude oil, currently taking in nine million barrels per day, it isn't likely to become energy independent anytime soon."

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Thanks to Energy & Environment Daily

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Published on Wednesday, November 30, 2011 in The Wall Street Journal - Business
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