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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

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To: Roebear who wrote (34522)	7/4/2012 11:51:04 AM
From: architect*	Read Replies (1) of 220939

This EIA charts shows US petroleum consumption at 19 MM bbls / day (mmbo) declining from a 2005 peak, and US production increasing to 10.5 MMbbls /day. US US net imports of petroleum is ~ 8.5 MM bbls /day or about half of the US consumption of petroleum is from imported products. The US imports more crude oil more oil than it needs, refines the crude oil into gasoline diesel and jet fuel. In the case of Nigeria, without gasoline refining capacity, the US could import the crude oil from Nigeria and then export gasoline back to Nigeria. Electricity is easy to export, but the US has limited capacity to export natural gas, since gas flows in pipelines, and LNG plants that prepare natural gas for export in a liquid or compressed form are very limited in the US. The US could, in the future, build several LNG plants and import large quantities of LNG or CNG to Asia. US consumption of 19 mmbo of oil is 50% higher than current US production of 8.5 mmbo. When the US is noted as a net exporter, they have to be considering all energy products, and chemicals because the US is dependent upon foreign oil imports.

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