Punk US Oil Demand and Export Confusion
from Gregor.us by Gregor Macdonald
The US is using spare refining capacity to export millions of barrels of oil products, while US domestic demand remains weak. One of the more common misunderstandings I see in energy circles right now is the idea that US oil demand has rebounded strongly since 2008. It hasn’t. The explanation can be found in the widening divergence between oil that’s imported for domestic usage, and oil that’s imported to convert into oil products for export. Let’s first take a look at the last 15 years of US petroleum consumption. This data is now updated through October, 2010. | see: US Annual Petroleum Consumption Quadrillion BTU ’95 -’10.
US domestic demand for oil
“And Now the Rest of the Story – “Oil use versus Oil refining and export? How numbers are deceiving