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Export ban could limit US oil boom

OIL & GAS NEWS -- Laws restricting exports of US crude oil could cap the recent surge in domestic output, the executive director of the International Energy Agency (IEA) wrote in the Financial Times.

Maria van der Hoeven said in an opinion piece posted on the FT’s website that while advances in techniques such as hydraulic fracturing and horizontal drilling have sent US oil output on a steep climb, domestic refiners can only absorb so much of the light sweet crude produced from shale oil and other unconventional plays.

Much of US refining capacity is geared toward processing heavier sour crude. Van der Hoeven noted total US refining capacity is slated to grow by only 300,000 barrels per day through 2017, with oil production expected to grow by 1.4 mbpd by 2014.

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Submitted Feb 11, 2013 By: NOTSOGRN

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rjhenn Champion Author Des Moines Posts:22,419 Points:2,226,625 Joined:Aug 2005	Message Posted: Feb 12, 2013 11:27:02 AM Ignore rjhenn Report Abuse nsdp - "Second no refineries built in the last 40 years." Last I heard, there were supposed to be two new refineries in the works, one in AZ and one in SD. There was also a small refinery opened in WY in 2008.
bby Champion Author Twin Cities Posts:5,709 Points:1,018,995 Joined:Nov 2009	Message Posted: Feb 12, 2013 7:18:04 AM Ignore bby Report Abuse Ok
remay Champion Author Houston Posts:6,948 Points:2,113,615 Joined:May 2006	Message Posted: Feb 12, 2013 6:52:22 AM Ignore remay Report Abuse Gee, that would force prices down, here, would it???
jrs4125 Champion Author Indiana Posts:2,743 Points:588,820 Joined:Sep 2011	Message Posted: Feb 12, 2013 6:42:51 AM Ignore jrs4125 Report Abuse Say anything to get their way.
hosspuller Sophomore Author Greensboro Posts:174 Points:1,564,505 Joined:Mar 2004	Message Posted: Feb 12, 2013 2:49:12 AM Ignore hosspuller Report Abuse let the market allocate resources for the best profit. It makes no sense in limiting profits when it also limits products. Want to have gas lines again ... That was the result of gov't limits on domestic oil prices. We became dependant on oversea oil since tit wasn't price controlled. Theat dependancy gave OPEC the power to hold us captive. Fracking is letting us throw off the OPEC leash around our neck.
JMW1942 All-Star Author Michigan Posts:549 Points:402,970 Joined:Feb 2012	Message Posted: Feb 12, 2013 12:30:48 AM Ignore JMW1942 Report Abuse Government is so smart.
nsdp Champion Author San Antonio Posts:1,117 Points:47,190 Joined:Jun 2012	Message Posted: Feb 12, 2013 12:28:55 AM Ignore nsdp Report Abuse Let's put an end to a bunch of lies here. First We closed too many refineries. refinery capacity has expanded although the number of refineries declined. Why has the number of refineries declined? Congress ended Nixon's "Windfall Profits Tax". What did it do? it subsidized the refineries 50,000 barrels per day or less by giving them $6/barrel crude oil. When the Windfall Profits Tax was repealed, Teakettle refineries went bust because they didn't get subsidy allocations of cheap crude. Second no refineries built in the last 40 years. 1. Petro Star Valdez, 1993), 2. Valero Refining Corpus Christi 1985 3. Arco Lyondell now Lyondell Bassell 1980 4. Dow Oyster Creek 1977 The last three are all three or more times larger than when originally built. If you want to learn something read this: http://www.instituteforenergyresearch.org/2008/09/23/petroleum-refining-and-the-free-market/ After reaching an all-time high of 18 million barrels per day (mmb/d) in 1981, the last year of the domestic oil boom, refinery capacity bottomed out at 15 mmb/d in 1994. In the eleven years since then, domestic capacity has grown approximately 15% to 17 mmb/d. This increase is the equivalent of 9 to 10 new refineries sized at 200,000 barrels per day. There were 148 refineries operating in the U.S. at the beginning of 2011 with a capacity to produce 17.7 million barrels of petroleum products a day, up 0.9 percent, or 152,000 barrels per day, from the pervious year, the EIA said. Ignorance is Bliss Saying we need more refineries We export over 3 million barrels per day of product refined from imported crude. . [Edited by: nsdp at 2/12/2013 12:31:15 AM EST]
rjhenn Champion Author Des Moines Posts:22,419 Points:2,226,625 Joined:Aug 2005	Message Posted: Feb 11, 2013 8:32:48 PM Ignore rjhenn Report Abuse Alaydown - "Except for Obama and a few of his leftist disciples, we are NOT a socialist country and should never attempt to do anything like this proposal." What proposal? It's been illegal to export crude without government authorization for almost 40 years. [Edited by: rjhenn at 2/11/2013 8:33:25 PM EST]
rjhenn Champion Author Des Moines Posts:22,419 Points:2,226,625 Joined:Aug 2005	Message Posted: Feb 11, 2013 8:30:27 PM Ignore rjhenn Report Abuse Alaydown - "Oil is sold domestically for the price that is set on the world market. There are not two separate prices for the same commodity. There are different types of the oil which have different world market prices, but the price for oil sold in the USA is still the minimum set by the world market." Try a little reality yourself. Currently, Canadian crude sells at a discount in the US, because most of it can't reach ports for export, so does not sell at the world market price (which is one reason why many are against Keystone XL). If a certain crude oil is not available on the world market, its price is not set by the world market. "You also completely ignore what finally brought down the price of gasoline in California last October. It happened when Gov. Brown decided to let oil companies switch to the cheaper winter blend because there was a shortage of the summer blend additives which drove the price so high. The skyrocketing increase due to the shortage of these summer additives was discussed many times by articles posted by PD on this website." So it wasn't due to "expensive additives", but a shortage of those additives, which led to a shortage of gasoline, and a rise in price.
Tomeboy Champion Author Twin Cities Posts:3,749 Points:556,090 Joined:Apr 2009	Message Posted: Feb 11, 2013 8:02:03 PM Ignore Tomeboy Report Abuse I think everyone needs to take a break from all this feedback and relax. Click on the link below and take a journey to a different state of mind. Paul Hardcastle - Constellation of Dreams [Edited by: Tomeboy at 2/11/2013 8:03:47 PM EST]
Double_Golden Champion Author San Francisco Posts:2,545 Points:602,460 Joined:Aug 2011	Message Posted: Feb 11, 2013 7:54:33 PM Ignore Double_Golden Report Abuse keep it in house to low the oil price and gas prices...
hank1326 Champion Author Los Angeles Posts:8,898 Points:1,730,035 Joined:Jun 2008	Message Posted: Feb 11, 2013 7:32:34 PM Ignore hank1326 Report Abuse We need more common sense, less politics.
Nicoalbum Champion Author Ottawa Posts:6,002 Points:1,185,290 Joined:Jan 2010	Message Posted: Feb 11, 2013 6:41:27 PM Ignore Nicoalbum Report Abuse Bureauctratic laws must be abolished
wulf2000 Champion Author Miami Posts:3,017 Points:1,386,430 Joined:May 2005	Message Posted: Feb 11, 2013 5:42:12 PM Ignore wulf2000 Report Abuse Economic pressure will dictate that US must export oil to overseas in order to decrease the balance of payments.
slowtrain Champion Author Georgia Posts:3,652 Points:945,975 Joined:Aug 2008	Message Posted: Feb 11, 2013 5:37:28 PM Ignore slowtrain Report Abuse We need to keep it here and lower our prices.
DYSKYPILOT Champion Author Fort Worth Posts:2,882 Points:621,705 Joined:Mar 2006	Message Posted: Feb 11, 2013 5:16:03 PM Ignore DYSKYPILOT Report Abuse Keep it here!
Alaydown Champion Author Los Angeles Posts:5,098 Points:820,470 Joined:May 2007	Message Posted: Feb 11, 2013 5:10:03 PM Ignore Alaydown Report Abuse nigelb: "Cap the exports or greedy Big Oil will sell to the highest bidder overseas and limit the domestic supply to increase pump prices. Of course the House RepubliTWITS will oppose any such regulation." Republicans and DemocRATs would be correct in opposing a regulation that bans export of oil. Yes, you read that right. There would be many DemocRATs who would also oppose such a thing, and they would be right to do so. It is a bad idea that would only hurt our economy and would probably result in higher gasoline prices. Except for Obama and a few of his leftist disciples, we are NOT a socialist country and should never attempt to do anything like this proposal.
dollarwatcher Champion Author Wisconsin Posts:7,930 Points:1,532,295 Joined:Mar 2007	Message Posted: Feb 11, 2013 5:09:42 PM Ignore dollarwatcher Report Abuse Skim off the top for us and send the rest to China.
OKRifle Champion Author Oklahoma City Posts:10,387 Points:1,807,360 Joined:Oct 2007	Message Posted: Feb 11, 2013 5:07:59 PM Ignore OKRifle Report Abuse More refineries!
scubadaniel Champion Author Dayton Posts:1,406 Points:688,545 Joined:Jan 2011	Message Posted: Feb 11, 2013 5:07:20 PM Ignore scubadaniel Report Abuse Count on this administration to screw it up somehow.
alwaysridin88 Champion Author Ohio Posts:1,431 Points:562,700 Joined:Jul 2011	Message Posted: Feb 11, 2013 5:06:13 PM Ignore alwaysridin88 Report Abuse we need more refineries.
Ken825 All-Star Author Pennsylvania Posts:602 Points:141,460 Joined:Nov 2012	Message Posted: Feb 11, 2013 5:01:38 PM Ignore Ken825 Report Abuse Communism at work.
BigBlue5 All-Star Author Spokane Posts:654 Points:132,755 Joined:Apr 2010	Message Posted: Feb 11, 2013 5:01:35 PM Ignore BigBlue5 Report Abuse Build more refineries and keep it here
ESCORT6768 Champion Author Iowa Posts:1,067 Points:610,065 Joined:Sep 2005	Message Posted: Feb 11, 2013 5:01:21 PM Ignore ESCORT6768 Report Abuse Then build some more refineries! We've had a .64 cent increase in gas prices and a .54 cent increase in fuel oil since obama was sworn in. Just a big scam to keep the working class poorer!
nemoFL Champion Author Florida Posts:8,786 Points:1,607,350 Joined:Oct 2008	Message Posted: Feb 11, 2013 4:58:08 PM Ignore nemoFL Report Abuse ok
silly8 Rookie Author Houston Posts:97 Points:57,155 Joined:Sep 2005	Message Posted: Feb 11, 2013 4:58:03 PM Ignore silly8 Report Abuse self sufficient USA. Save it up and build more refineries to handle the load to sell it later.
AmmoManAaron All-Star Author Indianapolis Posts:525 Points:129,340 Joined:Oct 2012	Message Posted: Feb 11, 2013 4:57:31 PM Ignore AmmoManAaron Report Abuse An export ban would be good for stabilizing domestic gas prices over the long term.
regout Champion Author Quebec Posts:2,935 Points:828,705 Joined:May 2010	Message Posted: Feb 11, 2013 4:57:14 PM Ignore regout Report Abuse More refineries do it now.
camel1 Champion Author Minnesota Posts:8,255 Points:2,263,590 Joined:Jul 2006	Message Posted: Feb 11, 2013 4:55:15 PM Ignore camel1 Report Abuse what a dilemma
nigelb Champion Author Virginia Posts:8,437 Points:1,387,755 Joined:Feb 2008	Message Posted: Feb 11, 2013 4:53:30 PM Ignore nigelb Report Abuse Tommyguns is right! Cap the exports or greedy Big Oil will sell to the highest bidder overseas and limit the domestic supply to increase pump prices. Of course the House RepubliTWITS will oppose any such regulation.
KillChain Champion Author Albuquerque Posts:5,605 Points:1,527,785 Joined:Jun 2006	Message Posted: Feb 11, 2013 4:52:28 PM Ignore KillChain Report Abuse There won't be a ban.............
firechief Champion Author New York Posts:3,426 Points:2,063,125 Joined:Mar 2004	Message Posted: Feb 11, 2013 4:52:02 PM Ignore firechief Report Abuse good keep it here
waynemustang Champion Author Indiana Posts:6,357 Points:1,662,235 Joined:Nov 2006	Message Posted: Feb 11, 2013 4:50:54 PM Ignore waynemustang Report Abuse Build more refineries.
regasaz Champion Author Phoenix Posts:5,775 Points:1,279,380 Joined:Dec 2006	Message Posted: Feb 11, 2013 4:50:50 PM Ignore regasaz Report Abuse Sounds like an opportunity to build New, Modern, Efficient refineries.
Lairre Champion Author Sacramento Posts:2,988 Points:184,235 Joined:Oct 2012	Message Posted: Feb 11, 2013 4:48:54 PM Ignore Lairre Report Abuse More refineries!
J Eric Champion Author Los Angeles Posts:10,254 Points:2,068,105 Joined:Feb 2004	Message Posted: Feb 11, 2013 4:48:34 PM Ignore J Eric Report Abuse I knew talk of a "boom" was too good to be true. Can't be a boom in production here in the US and at the same time, dire need to bring Canadian oil in by the Keystone Pipeline...
WILDCAT112 All-Star Author South Carolina Posts:902 Points:175,450 Joined:Aug 2012	Message Posted: Feb 11, 2013 4:48:09 PM Ignore WILDCAT112 Report Abuse Here we go up again !!!!!
jackster111 Champion Author North Carolina Posts:3,295 Points:422,310 Joined:Feb 2012	Message Posted: Feb 11, 2013 4:45:40 PM Ignore jackster111 Report Abuse okay
roger1315 All-Star Author North Carolina Posts:735 Points:490,510 Joined:Feb 2011	Message Posted: Feb 11, 2013 4:45:13 PM Ignore roger1315 Report Abuse OK, fix it
Tommyguns45 Sophomore Author Illinois Posts:212 Points:130,455 Joined:Feb 2012	Message Posted: Feb 11, 2013 4:45:02 PM Ignore Tommyguns45 Report Abuse It needs capped so the US doesnt run out fast by it being sold for a higher price by greedy oil men to China, Euros etc
Chas58 All-Star Author Detroit Posts:949 Points:281,615 Joined:Mar 2011	Message Posted: Feb 11, 2013 4:44:05 PM Ignore Chas58 Report Abuse Lots of nice charts. At the end of the day the real message is the US should restrict oil exports. One of two things will happen: 1)oil will remain in the ground (we can use it latter) or 2) we will have a glut on oil and the price will go down. If the Federal government has ANY smarts, they will tax oil product exports and pay China back with their own money.
viperahul Champion Author Oakland Posts:1,210 Points:592,500 Joined:Feb 2006	Message Posted: Feb 11, 2013 4:43:33 PM Ignore viperahul Report Abuse Don't import?
mrmike75 Veteran Author Las Vegas Posts:476 Points:61,795 Joined:Jun 2011	Message Posted: Feb 11, 2013 4:43:27 PM Ignore mrmike75 Report Abuse how about build more refineries people....
Alaydown Champion Author Los Angeles Posts:5,098 Points:820,470 Joined:May 2007	Message Posted: Feb 11, 2013 4:41:57 PM Ignore Alaydown Report Abuse dcoxdcox44: "so Rodzilla123 - how 'bout we build a brandy new refinery right there in beautiful San Diego? Right on the bay, in full view of that beautiful Coronado bridge!" Wow, that is a ridiculous statement! You are from New Hampshire, so I guess you are not familiar with the area. "Right on the bay, in full view of that beautiful Coronado bridge" are several things that are not the best looking things to look at: NASSCO shipbuilding facility; an electric power plant; Barrio Logan; wildlife refuge which is just a lot of weeds and swamp; and salt farm, to name a few. A refinery can easily be built in southeast San Diego county out towards Brown Field. It does not have to built on expensive oceanfront property as you ridiculously suggest. Where do you propose one be built in your backyard? [Edited by: Alaydown at 2/11/2013 4:42:44 PM EST]
DatThao All-Star Author Wilmington Posts:707 Points:137,740 Joined:Oct 2012	Message Posted: Feb 11, 2013 4:40:04 PM Ignore DatThao Report Abuse Do the right thing...
aarrrt Champion Author San Diego Posts:7,257 Points:1,648,565 Joined:May 2008	Message Posted: Feb 11, 2013 4:39:35 PM Ignore aarrrt Report Abuse Put it in the Reserves.
Alfied Champion Author Riverside Posts:7,920 Points:1,752,360 Joined:Jun 2001	Message Posted: Feb 11, 2013 4:38:20 PM Ignore Alfied Report Abuse Save it for the future.
Gassed01 Champion Author Toronto Posts:6,339 Points:1,799,115 Joined:Jan 2006	Message Posted: Feb 11, 2013 4:36:37 PM Ignore Gassed01 Report Abuse Cut big revenue sources and you cut production and everything else down the line.
sagnat Champion Author Riverside Posts:1,142 Points:305,420 Joined:Jun 2012	Message Posted: Feb 11, 2013 4:36:31 PM Ignore sagnat Report Abuse Oh no, you mean we would have to be self sufficient?
Dennisjk Champion Author Detroit Posts:6,466 Points:1,921,450 Joined:Apr 2006	Message Posted: Feb 11, 2013 4:35:48 PM Ignore Dennisjk Report Abuse Don't need to export it if we quit importing oil.