November 30, 2011
CHANGE: U.S. Nears Milestone: Net Fuel Exporter. “U.S. exports of gasoline, diesel and other oil-based fuels are soaring, putting the nation on track to be a net exporter of petroleum products in 2011 for the first time in 62 years. A combination of booming demand from emerging markets and faltering domestic activity means the U.S. is exporting more fuel than it imports, upending the historical norm.”
This would be good news, if it weren’t for the “falling domestic activity” part. That really just means that our economy is falling behind.
UPDATE: Note the difference between “oil” and “fuel.” We’re still importing a lot of oil. But if we get the shale-oil going, that’ll change.