The EIA released a chart today confirming that this year so far has seen a roughly 25% increase in oil and petroleum product (gasoline) exports.

Since 2010 we have doubled exports.

I understand that the oil companies own the oil in this country so they could give a shit about our economy, but from a national economic perspective how is creating an artificially scarce market here so gas can run up to $4 helping this economy?

We keep hearing about how we are awash in oil, and no matter how much we seem to pump there is never any relief to consumers.

The Keystone pipeline has been trumpeted as something we must do, but all the oil and gas was going to be exported to China anyway. They needed the pipeline to get it down to the Gulf so it can be transported over seas easier.

Just as a broader question, does it make sense to have an energy policy that does little to benefit our economy?

If gas prices dropped a dollar consumer demand and economic growth would explode, but instead we are exporting away more and more to keep our market tight and prices high.

Is there any middle ground to be had between the current system and nationalized oil companies? Should we be exporting petroleum abroad to keep prices high at home?

This is more a general discussion than anything, but I wonder what others think.

http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WTTEXUS2&f=W

Supply & demand. The price overseas has to be quite a bit higher to ship it across the Atlantic.

Good lord, nationalization is almost NEVER the answer. But you could tie leases of federal land to a requirement for domestic production only (maybe they do, and that wouldn't prevent them from increasing exports from reserves on private lands).

Or if you put an end to the mostly worthless ethanol subsidies/production (to be backfilled by the oil exports), you'd save the money indirectly.

gut;1609242 wrote:Supply & demand. The price overseas has to be quite a bit higher to ship it across the Atlantic.

Good lord, nationalization is almost NEVER the answer. But you could tie leases of federal land to a requirement for domestic production only (maybe they do, and that wouldn't prevent them from increasing exports from reserves on private lands).

Or if you put an end to the mostly worthless ethanol subsidies/production (to be backfilled by the oil exports), you'd save the money indirectly.

It's been shown gas prices do not follow the traditional laws of supply and demand.
Also, gas prices have a whole host of factors that play into it, not including many that our out of the U.S. control.
So, sure, maybe we should export, but I'm not sure it will lower gas prices.