U.S. Oil Exports Reach Record Highs; That’s Right ... Exports! Drill Baby, Drill!

[Better Believe It]

So big U.S. oil firms need to drill more in order to increase U.S. oil exports to nations which in turn will decrease U.S. dependency on imported oil! Well, that makes absolute sense now, doesn't it? What a scam! BBI




U.S. Oil Exports Reach Record Highs; That’s Right…Exports
September 5, 2011

Funny how politician after politician keeps talking about the necessity to drill for more oil in the U.S., be it in Alaska or in the Gulf of Mexico or on public lands—considering that America has been breaking records this year for exports of petroleum.

According to the U.S. Department of Energy, American exports of crude oil and refined petroleum products are higher than they’ve ever been. In April of this year, oil companies sold nearly three million barrels overseas—which was double the amount sold four years earlier (April 2007).

Meanwhile, U.S. and Canadian oil firms are lobbying the Obama administration to approve the construction of the controversial 1,661-mile transcontinental Keystone XL pipeline that would carry tar sands oil from Canada to Texas refineries. This development would mean more export profits for oil companies, as some of the oil sands would be refined for overseas use.



http://www.allgov.com/Controversies/ViewNews/US_Oil_Exports_Reach_Record_Highs__Thats_Right__Exports_110905

[leveymg]

1. Rapid upward exports tend to accompany price spikes, as well.

Note the doubling in exports before and after the '79-'80 "Iranian oil shortage" (bogus) and the doubling in exports since 2005 that went along with the speculative price spikes and escalation in recent years. There's a correlation if not complete causation.

[gratuitous]

2. Well, you can't expect oil companies to sell for less than top dollar

That would be like socialism or something. Oh, and by the way, the taxpayer subsidies for Big Oil? We need to keep those intact or else!

Or else what?

Or else they can't continue screwing the public at both ends, and they really like doing that. So keep the tax breaks coming!

[Better Believe It]

3. And we need to become less dependent on "foreign oil" by increasing U.S. oil exports!

That makes perfect sense if your an oil company executive or one of their political apologists.