Posted by John in La on August 07, 2014 at 16:59:25 from (96.33.136.54):
In Reply to: Re: Price of gasoline posted by rustyfarmall on August 07, 2014 at 09:05:42:
We are exporting this oil for the same reason we have a glut of oil. Oil refineries were caught with their pants down because they did not see or take action on what happened. Our refineries are built to process oil (heavy crude) from over seas because that is where most of our oil has come from in the past. This oil we have a glut of is ultra light sweet crude because we do not have capacity to refine it as fast as they are getting it out the ground. Hence they are finding ways to export it.
That's like they built a big tanker dock off the coast of Louisiana to unload imported natural gas. With the recent finds of mega natural gas here they are running around like a headless chicken trying to convert this import dock so it can be used as a export dock.
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