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Export ban could limit US oil boom

OIL & GAS NEWS -- Laws restricting exports of US crude oil could cap the recent surge in domestic output, the executive director of the International Energy Agency (IEA) wrote in the Financial Times.

Maria van der Hoeven said in an opinion piece posted on the FT’s website that while advances in techniques such as hydraulic fracturing and horizontal drilling have sent US oil output on a steep climb, domestic refiners can only absorb so much of the light sweet crude produced from shale oil and other unconventional plays.

Much of US refining capacity is geared toward processing heavier sour crude. Van der Hoeven noted total US refining capacity is slated to grow by only 300,000 barrels per day through 2017, with oil production expected to grow by 1.4 mbpd by 2014.


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Submitted Feb 11, 2013 By: NOTSOGRN
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Export ban could limit US oil boom Back to Topics
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rjhenn
Champion Author Des Moines

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Message Posted: Feb 12, 2013 9:27:02 AM

nsdp - "Second no refineries built in the last 40 years."

Last I heard, there were supposed to be two new refineries in the works, one in AZ and one in SD.

There was also a small refinery opened in WY in 2008.
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bby
Champion Author Twin Cities

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Message Posted: Feb 12, 2013 5:18:04 AM

Ok
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remay
Champion Author Houston

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Message Posted: Feb 12, 2013 4:52:22 AM

Gee, that would force prices down, here, would it???
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jrs4125
Champion Author Indiana

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Message Posted: Feb 12, 2013 4:42:51 AM

Say anything to get their way.
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hosspuller
Veteran Author Greensboro

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Message Posted: Feb 12, 2013 12:49:12 AM

let the market allocate resources for the best profit. It makes no sense in limiting profits when it also limits products. Want to have gas lines again ... That was the result of gov't limits on domestic oil prices. We became dependant on oversea oil since tit wasn't price controlled. Theat dependancy gave OPEC the power to hold us captive. Fracking is letting us throw off the OPEC leash around our neck.
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JMW1942
Champion Author Michigan

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Message Posted: Feb 11, 2013 10:30:48 PM

Government is so smart.
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nsdp
Champion Author San Antonio

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Message Posted: Feb 11, 2013 10:28:55 PM

Let's put an end to a bunch of lies here.

First We closed too many refineries. refinery capacity has expanded although the number of refineries declined. Why has the number of refineries declined? Congress ended Nixon's "Windfall Profits Tax". What did it do? it subsidized the refineries 50,000 barrels per day or less by giving them $6/barrel crude oil. When the Windfall Profits Tax was repealed, Teakettle refineries went bust because they didn't get subsidy allocations of cheap crude.

Second no refineries built in the last 40 years.
1. Petro Star Valdez, 1993),
2. Valero Refining Corpus Christi 1985
3. Arco Lyondell now Lyondell Bassell 1980
4. Dow Oyster Creek 1977

The last three are all three or more times larger than when originally built.

If you want to learn something read this: http://www.instituteforenergyresearch.org/2008/09/23/petroleum-refining-and-the-free-market/

After reaching an all-time high of 18 million barrels per day (mmb/d) in 1981, the last year of the domestic oil boom, refinery capacity bottomed out at 15 mmb/d in 1994. In the eleven years since then, domestic capacity has grown approximately 15% to 17 mmb/d. This increase is the equivalent of 9 to 10 new refineries sized at 200,000 barrels per day.

There were 148 refineries operating in the U.S. at the
beginning of 2011 with a capacity to produce 17.7 million
barrels of petroleum products a day, up 0.9 percent, or 152,000
barrels per day, from the pervious year, the EIA said.

Ignorance is Bliss Saying we need more refineries We export over 3 million barrels per day of product refined from imported crude. .

[Edited by: nsdp at 2/12/2013 12:31:15 AM EST]
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rjhenn
Champion Author Des Moines

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Message Posted: Feb 11, 2013 6:32:48 PM

Alaydown - "Except for Obama and a few of his leftist disciples, we are NOT a socialist country and should never attempt to do anything like this proposal."

What proposal? It's been illegal to export crude without government authorization for almost 40 years.

[Edited by: rjhenn at 2/11/2013 8:33:25 PM EST]
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rjhenn
Champion Author Des Moines

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Message Posted: Feb 11, 2013 6:30:27 PM

Alaydown - "Oil is sold domestically for the price that is set on the world market. There are not two separate prices for the same commodity. There are different types of the oil which have different world market prices, but the price for oil sold in the USA is still the minimum set by the world market."

Try a little reality yourself. Currently, Canadian crude sells at a discount in the US, because most of it can't reach ports for export, so does not sell at the world market price (which is one reason why many are against Keystone XL). If a certain crude oil is not available on the world market, its price is not set by the world market.

"You also completely ignore what finally brought down the price of gasoline in California last October. It happened when Gov. Brown decided to let oil companies switch to the cheaper winter blend because there was a shortage of the summer blend additives which drove the price so high. The skyrocketing increase due to the shortage of these summer additives was discussed many times by articles posted by PD on this website."

So it wasn't due to "expensive additives", but a shortage of those additives, which led to a shortage of gasoline, and a rise in price.
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Tomeboy
Champion Author Twin Cities

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Message Posted: Feb 11, 2013 6:02:03 PM

I think everyone needs to take a break from all this feedback and relax.

Click on the link below and take a journey to a different state of mind.

Paul Hardcastle - Constellation of Dreams



[Edited by: Tomeboy at 2/11/2013 8:03:47 PM EST]
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Double_Golden
Champion Author San Francisco

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Message Posted: Feb 11, 2013 5:54:33 PM

keep it in house to low the oil price and gas prices...
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hank1326
Champion Author Los Angeles

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Message Posted: Feb 11, 2013 5:32:34 PM

We need more common sense, less politics.
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Nicoalbum
Champion Author Ottawa

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Message Posted: Feb 11, 2013 4:41:27 PM

Bureauctratic laws must be abolished
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wulf2000
Champion Author Miami

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Message Posted: Feb 11, 2013 3:42:12 PM

Economic pressure will dictate that US must export oil to overseas in order to decrease the balance of payments.
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slowtrain
Champion Author Georgia

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Message Posted: Feb 11, 2013 3:37:28 PM

We need to keep it here and lower our prices.
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DYSKYPILOT
Champion Author Fort Worth

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Message Posted: Feb 11, 2013 3:16:03 PM

Keep it here!
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Alaydown
Champion Author Los Angeles

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Message Posted: Feb 11, 2013 3:10:03 PM

nigelb: "Cap the exports or greedy Big Oil will sell to the highest bidder overseas and limit the domestic supply to increase pump prices. Of course the House RepubliTWITS will oppose any such regulation."

Republicans and DemocRATs would be correct in opposing a regulation that bans export of oil. Yes, you read that right. There would be many DemocRATs who would also oppose such a thing, and they would be right to do so. It is a bad idea that would only hurt our economy and would probably result in higher gasoline prices. Except for Obama and a few of his leftist disciples, we are NOT a socialist country and should never attempt to do anything like this proposal.
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dollarwatcher
Champion Author Wisconsin

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Message Posted: Feb 11, 2013 3:09:42 PM

Skim off the top for us and send the rest to China.
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OKRifle
Champion Author Oklahoma City

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Message Posted: Feb 11, 2013 3:07:59 PM

More refineries!
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scubadaniel
Champion Author Dayton

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Message Posted: Feb 11, 2013 3:07:20 PM

Count on this administration to screw it up somehow.
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alwaysridin88
Champion Author Ohio

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Message Posted: Feb 11, 2013 3:06:13 PM

we need more refineries.
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Ken825
Champion Author Pennsylvania

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Message Posted: Feb 11, 2013 3:01:38 PM

Communism at work.
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BigBlue5
Champion Author Spokane

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Message Posted: Feb 11, 2013 3:01:35 PM

Build more refineries and keep it here
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ESCORT6768
Champion Author Iowa

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Message Posted: Feb 11, 2013 3:01:21 PM

Then build some more refineries! We've had a .64 cent increase in gas prices and a .54 cent increase in fuel oil since obama was sworn in. Just a big scam to keep the working class poorer!
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nemoFL
Champion Author Florida

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Message Posted: Feb 11, 2013 2:58:08 PM

ok
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silly8
Sophomore Author Houston

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Message Posted: Feb 11, 2013 2:58:03 PM

self sufficient USA. Save it up and build more refineries to handle the load to sell it later.
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AmmoManAaron
Champion Author Indianapolis

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Message Posted: Feb 11, 2013 2:57:31 PM

An export ban would be good for stabilizing domestic gas prices over the long term.
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regout
Champion Author Quebec

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Message Posted: Feb 11, 2013 2:57:14 PM

More refineries do it now.
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camel1
Champion Author Minnesota

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Message Posted: Feb 11, 2013 2:55:15 PM

what a dilemma
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nigelb
Champion Author Virginia

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Message Posted: Feb 11, 2013 2:53:30 PM

Tommyguns is right! Cap the exports or greedy Big Oil will sell to the highest bidder overseas and limit the domestic supply to increase pump prices. Of course the House RepubliTWITS will oppose any such regulation.
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KillChain
Champion Author Albuquerque

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Message Posted: Feb 11, 2013 2:52:28 PM

There won't be a ban.............
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firechief
Champion Author New York

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Message Posted: Feb 11, 2013 2:52:02 PM

good keep it here
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waynemustang
Champion Author Indiana

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Message Posted: Feb 11, 2013 2:50:54 PM

Build more refineries.
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regasaz
Champion Author Phoenix

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Message Posted: Feb 11, 2013 2:50:50 PM

Sounds like an opportunity to build New, Modern, Efficient refineries.
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Lairre
Champion Author Sacramento

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Message Posted: Feb 11, 2013 2:48:54 PM

More refineries!
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J Eric
Champion Author Los Angeles

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Message Posted: Feb 11, 2013 2:48:34 PM

I knew talk of a "boom" was too good to be true. Can't be a boom in production here in the US and at the same time, dire need to bring Canadian oil in by the Keystone Pipeline...
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WILDCAT112
Champion Author South Carolina

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Message Posted: Feb 11, 2013 2:48:09 PM

Here we go up again !!!!!
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jackster111
Champion Author North Carolina

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Message Posted: Feb 11, 2013 2:45:40 PM

okay
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roger1315
Champion Author North Carolina

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Message Posted: Feb 11, 2013 2:45:13 PM

OK, fix it
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Tommyguns45
Champion Author Illinois

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Message Posted: Feb 11, 2013 2:45:02 PM

It needs capped so the US doesnt run out fast by it being sold for a higher price by greedy oil men to China, Euros etc
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Chas58
Champion Author Detroit

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Message Posted: Feb 11, 2013 2:44:05 PM

Lots of nice charts. At the end of the day the real message is the US should restrict oil exports. One of two things will happen: 1)oil will remain in the ground (we can use it latter) or 2) we will have a glut on oil and the price will go down. If the Federal government has ANY smarts, they will tax oil product exports and pay China back with their own money.
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viperahul
Champion Author Oakland

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Message Posted: Feb 11, 2013 2:43:33 PM

Don't import?
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mrmike75
All-Star Author Las Vegas

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Message Posted: Feb 11, 2013 2:43:27 PM

how about build more refineries people....
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Alaydown
Champion Author Los Angeles

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Message Posted: Feb 11, 2013 2:41:57 PM

dcoxdcox44: "so Rodzilla123 - how 'bout we build a brandy new refinery right there in beautiful San Diego? Right on the bay, in full view of that beautiful Coronado bridge!"

Wow, that is a ridiculous statement! You are from New Hampshire, so I guess you are not familiar with the area. "Right on the bay, in full view of that beautiful Coronado bridge" are several things that are not the best looking things to look at: NASSCO shipbuilding facility; an electric power plant; Barrio Logan; wildlife refuge which is just a lot of weeds and swamp; and salt farm, to name a few.

A refinery can easily be built in southeast San Diego county out towards Brown Field. It does not have to built on expensive oceanfront property as you ridiculously suggest. Where do you propose one be built in your backyard?

[Edited by: Alaydown at 2/11/2013 4:42:44 PM EST]
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DatThao
Champion Author Wilmington

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Message Posted: Feb 11, 2013 2:40:04 PM

Do the right thing...
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aarrrt
Champion Author San Diego

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Message Posted: Feb 11, 2013 2:39:35 PM

Put it in the Reserves.
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Alfied
Champion Author Riverside

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Message Posted: Feb 11, 2013 2:38:20 PM

Save it for the future.
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Gassed01
Champion Author Toronto

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Message Posted: Feb 11, 2013 2:36:37 PM

Cut big revenue sources and you cut production and everything else down the line.
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sagnat
Champion Author Riverside

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Message Posted: Feb 11, 2013 2:36:31 PM

Oh no, you mean we would have to be self sufficient?
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Dennisjk
Champion Author Detroit

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Message Posted: Feb 11, 2013 2:35:48 PM

Don't need to export it if we quit importing oil.
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