The US Energy Information Administration (EIA) reported in late November that th ...

The US Energy Information Administration (EIA) reported in late November that the US exported 753.4mn barrels of refined petroleum fuels in the first nine months of 2011, while importing 689.4mn barrels. According to the National Petrochemical & Refiners Association (NPRA), it is the first time the US has been a net exporter of refined petroleum products since 1949. NPRA President Charles Drevna commented: ‘American refiners still face challenges from a blizzard of existing and new regulations that are costly and, in some cases, conflicting. These regulations threaten to reverse this new trend in American fuels production and further raise consumer costs. There are also still regions of the country that are challenged by the prospect of import competition in a competitive global marketplace. These pressures are likely to increase as America emerges from the recession.’ He continued: ‘If exports of fuels refined in America continue as a trend rather than proving to be a one-time anomaly, it will be a positive development for American energy security. It will result in more American jobs, more tax revenue for government at all levels, and a faster recovery for our nation’s economy. This recovery could be accelerated even more if the US government allowed increased production of oil and natural gas in our own country, and if the Keystone XL pipeline is built to carry more oil from our close friend and neighbour Canada to US refineries.’