The People of America's Oil and Natural Gas Indusry

Energy Tomorrow Blog

energy-exports  domestic-energy-development  trade  petroleum-products 

Mark Green

Mark Green
Posted February 7, 2014

Big news from the Commerce Department this week is that U.S. exports rose to a new high in 2013 and imports dropped to their lowest level since 2009 for the smallest U.S. trade deficit since 2009 – thanks largely to reduced oil imports due to growing domestic production and record exports of products made from petroleum. The Wall Street Journal (subscription required) reports:

A booming domestic energy industry is largely responsible for the turnaround. Not adjusted for inflation, the value of petroleum exports—a category that includes gasoline, kerosene, lubricants, solvents and other products—reached a full-year peak in 2013. Petroleum imports, by value, were the lowest since 2010 and the volume of crude-oil imports, at 2.8 billion barrels, were the lowest since 1995.

Bloomberg reports the U.S. trade gap narrowed to $471.5 billion last year from $534.7 billion in 2012, with the trade balance on petroleum products shrinking to 20.2 percent, the biggest decline in four years.

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domestic-energy  oil-industry  petroleum-products 

Jane Van Ryan

Jane Van Ryan
Posted March 3, 2010

There's no doubt that consumers rely on oil and natural gas to enhance their quality of life. The cars we drive, the food we eat, the medicines we need--each is touched by America's oil and natural gas industry.

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