General Discussion
In reply to the discussion: If Democrats would just tell the fucking truth about the Keystone Oil Exporter.. [View all]FarCenter
(19,429 posts)Currently, the figures are:
7.3 million bpd crude import
-0.1 million bpd crude export
====================
7.2 million bpd net crude imports.
3.8 million bpd refined product exports
-1.8 million bpd refined product imports
=======================
2.0 million bpd net refined product exports
So the net exports of refined products are much smaller than the net imports of crude
Part of the economic rationale is that refined products are imported to the east coast from Canada and Europe, while refined products are exported from the Gulf Coast to Latin America.
So overall, we are importing around 2 million barrels of crude more than we need for domestic consumption, refining it, and exporting the refined products.
http://www.eia.gov/dnav/pet/pet_move_wkly_dc_NUS-Z00_mbblpd_w.htm