U.S. Nears Milestone: Net Fuel Exporter
U.S. exports of gasoline, diesel and other oil-based fuels are soaring, putting the nation on track to be a net exporter of petroleum products in 2011 for the first time in 62 years.
A combination of booming demand from emerging markets and faltering domestic activity means the U.S. is exporting more fuel than it imports, upending the historical norm.
According to data released by the U.S. Energy Information Administration on Tuesday, the U.S. sent abroad 753.4 million barrels of everything from gasoline to jet fuel in the first nine months of this year, while it imported 689.4 million barrels.
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Most folks know the United States is the greatest consumer of oil in the world, but we are also one of the greatest producers: we're #3 behind Saudi Arabia (#2) and Russia (#1) (source: Huffington Post). My apologies to Alaska and Gulf wildlife. -Lauren
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