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America’s oil boom: Shape up or ship out

Posted on 19 November 2012

America’s newfound natural-gas bounty has already sparked arguments over whether or not to export it. Soon, it will be oil’s turn. The International Energy Agency reckons the U.S. could become a net oil exporter around 2030. It is a tantalizing prospect. But crude-oil exports will make headlines well before 2030. Try next year.
U.S. crude-oil exports are heavily restricted. Refined products such as gasoline can be shipped abroad more easily—indeed, the U.S. became a net exporter of these last year for the first time since 1949. Refiners have been selling increasing amounts in foreign markets as domestic demand has sagged amid economic sluggishness and renewed energy-conservation efforts……………………………………….Full Article: Source


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VRS - who has written 38538 posts on Opalesque Commodities Briefing.


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