For years the oil industry has been lobbying the Obama Administration to lift the US export ban of crude oil, which has been in place since the Arab oil embargo of the 1970s. The calls have become greater as the fracking boom has led to a significant increase in domestic production.
Big Oil has always been a bad, bad loser. And it is therefore no surprise that it has threatened to sue a small coastal city in Maine which on Monday night struck an historical blow against the industry by banning the export of tar sands from its harbour.
An analysis of oil spilled in the transportation process by Oil Change International using data from the Pipeline and Hazardous Materials Safety Administration Office reveals that the number of spills from crude by rail increased by almost 10 times from 2008-2013.
New data reveals that a full 60 percent of gasoline produced at Keystone XL refineries was exported.
Officials from the European Commission see Keystone XL as an export pipeline from America to the EU.
In the last quarter of 2011, the majority (51%) of the two prime transport fuels produced in Port Arthur and Houston area refineries went to export markets, including 73% of gasoline and 40% of diesel.
Keystone XL will not lessen U.S. dependence on foreign oil, but rather transport Canadian oil to American refineries for export to overseas markets.
Maybe those people who gave the green light to invade Iraq really did have a crystal ball. Maybe five years ago they could have foreseen record energy prices and a frenzy about oil supply and demand. Because amidst all the panic about dwindling supply, one country has actually increased production. Iraq has raised oil exports … Read More
Nigeria, which has been forced to shut in more than half of its oil output following rebel attacks and a workers’ strike, could lose its position as Africa’s top oil exporter to Angola. The cumulative oil production outage for Africa’s most populous nation now amounts to more than 1.3 million barrels per day from its … Read More
Iraq’s crude oil shipments to the United States have fallen to the second lowest monthly level in almost four years, the U.S. Energy Department has confirmed. Iraq exported 341,000 barrels of crude oil a day that month to the U.S. market in May, down 39 percent from the month before. The Energy Department said it … Read More
