KenB
Well-known member
The U.S. exported more gasoline, diesel and other fuels than it imported in 2011 for the first time since 1949, the Energy Department said today.
Shipments abroad of petroleum products exceeded imports by 439,000 barrels a day, the department said in the Petroleum Supply Monthly report. In 2010, daily net imports averaged 269,000 barrels. U.S. refiners exported record amounts of gasoline, heating oil and diesel to meet higher global fuel demand while U.S. fuel consumption sank.
Gasoline demand in the U.S. sank 2.9 percent to 8.736 million barrels a day as pump prices averaged $3.521 a gallon, the highest in records dating back to 1919.
"The reason we can export so much is demand in the U.S. is weak,". Since 2005, the U.S. has lost nearly 2 million barrels a day of total product consumption
