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Net oil product exporter, but are we past “peak oil”??

This WSJ article reports that the U.S. is poised to be a net oil product exporter in 2011. This seemed to be a rather interesting claim so I went to the source document: from the Energy Information Administration.  I searched for the 753.4 million barrels exported and found it in table 52 as the totel year to date exports of ‘total products’. Next the 689.4 million barrels imported is found on table 40 similarly under ‘total products’. Possibly good news, but the problem is we still were a net importer of 3.13 BILLION barrels, when you include crude oil.

WONDERFUL! We are exporting more oil productsthan we imported so far this year by some 76 million barrels. But where does this put us comparatively speaking? Lets go back 5 years and look at 2006. The 2006 report for the same period had us at 994 MB of products imported and 3.77 Billion barrels total. Our total exports were only 354M Barrels.

So our total imports are down about 17%, our product imports are down 31% and our product exports are up 113%

The big question will be can we keep ourselves weening off oil, as we are arguably past “peak oil” production (there is some question whether when sand and shale oil finishes ramping up we will hit a new peak…). Bulk biofuel is still about 4 times oil see this danger Room post

So the other question is where are these product exports going? Here are the big jumps (over 100%). (First number is 2006, second is 2011 in M bls) turns out that Canada and Mexico mostly, but huge increases in Central and South America as well. So is this a NAFTA win? Seems so.

Argentina       2.4, 10.7

Brazil             11.8, 40.7

Canada         36.9, 64.0

China              3.5, 13.1

Columbia      1.6, 15.2

Dominican Rep 3.9, 11.4

Honduras    4.3, 12.4

France          3.7, 14.5

Mexico         67.9, 150.6

Morocco       2.3, 8.1

Netherlands 22.4, 64.7

Panama         11.7, 27.3

Peru                 2.1, 8.2

Singapore    12.2, 34.8

Turkey            3.8, 14.0