GREAT AGAIN: Texas Oil Exports OUTPACE Imports for First Time in HISTORY

Administrator · 2018-08-23T15:33:40.421Z

Originally published at: GREAT AGAIN: Texas Oil Exports OUTPACE Imports for First Time in HISTORY | Sean Hannity

The Lone Star State’s oil exports smashed estimates in April, breaking records and outpacing imports for the first time in history.

According to Oil Price, Texas gulf coast terminals shattered expectations earlier this year, with crude exports exceeding imports by more than 15,000 bpd.

“The Texas Gulf Coast oil terminals sent abroad more crude than they received in April, the Energy Information Administration said this week. During that month, crude oil exports from the Houston-Galveston port district exceeded imports by 15,000 bpd. Over the next month, the advantage of exports over imports welled further, to an impressive 470,000 bpd,” writes Oil Price.

“Total U.S. oil exports in may hit a record of 2 million bpd, with Houston-Galveston’s share of the total at a record-breaking 70 percent, from an average of about 50 percent since the middle of 2017,” adds the industry insider.

Read the full report here.

Konssurvative1 · 2018-08-23T21:28:32.297Z

Administrator:

Originally

I have a serious question. Why are we exporting more than we import…why don’t we simply stop importing and use the oil we drill for at home, and lower the cost of our own oil. Or if we import oil and keep the home drilled oil, wouldn’t we then be increasing our supply and thus lowering oil prices. Which to me says…the oil companies are always about keeping the price of oil high. If we have all of this excess oil…why not keep it here you know economics. Supply and Demand…