Preview: In the first half of 2012, U.S. exports rose 7%, in comparison to the same
time period in 2011. In as much, Mitt Romney, Paul Ryan, and the Republican Party
members of the Redneck States were lying about the state of the American economy,
hoping that you were as gullible as their constituents who are simply too lazy to learn
how to read .. and who are too self-absorbed with their tribal territoriality and guns
shows,for them to think of society at large ... or another living human being.
In 2012, the Republicans fell short of deceiving America with the Marketing of Fear
technique and the diatribes which cause division in the United States. The distrust of
fellow Americans ensued. In fact, Cayman Island Mitt attempted to steal the United
States presidency by means of fraudulent misrepresentation. He was willing to ignore
47% of America and the entire Middle East, as well. If he didn't care about people,
then why did he try to be the leader of 300 million of them?
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In the winter of 2011/12, it came as a surprise to learn that the United States became a
NET EXPORTER of petroleum products for the first time since 1949. This includes
the exportation of diesel and jet fuels, as well as petrol additives. More important was
the news that America's demand for oil was at its lowest since 1997. In fact, American
oil demand shifted from 96 million barrels per day in 2007 to 88 million daily barrels at
the end of 2011.
The bottom line is that the gasoline and diesel price hike of the Winter of 2012 had no-
nothing to do with supply & demand factors. Do not let yourself be deceived. Greed is
an addiction for the unconscionable folk in modern Corporate America. Carnegie and
Frick were this way during the early Pittsburgh steel years. So too were others. Yet,
the bottom line to a corporate exec is the price of his company's stock, per share. Such
execs proved that they are willing to sell out America for the sake of obtaining a stock's
desired price.
In 2012, the price of gasoline and the price of diesel were at their highest ever for any
month of February, as oil was over $100 per barrel. One of the assumed co-suspects
of the 2012 price hike was that which caused the 2008 fuel price hikes: Oil Futures
Speculation. However, there were two other co-suspects to the high pricing, for 2012.
Another suspect in the American fuel price hike was the exporter. Petroleum products
were being shipped to the highest bidders, and the highest bidders were not Americans.
In fact, the United States exported more petroleum products last year than at any other
time in its history. In fact, total exports for the first half of 2012 rose 7%, compared to
exports for the first half of 2011. This means that Mitt Romney and Paul Ryan were
lying to America.
Stated for the record, America's top five exports for 2011 were as follows:
1. Fuel: $73.4 billion
2. Aircraft: $70.8 billion
3. Motor Vehicles: $39.6 billion
4. Vacuum Tubes: $37.1 billion
5. Telecommunications Equipment: $33.2 billion
The trend continued in the following year:
http://www.aei-ideas.org/2013/02/the-new-age-of-americas-energy-abundance-the-top-two-us-exports-last-year-were-a-fuel-oil-and-b-petroleum-products/
Of course, even in 2012, America still suffers from a chronic Trade Balance Deficit, to
the tune of hundreds of billions of dollars per year, largely due to sweatshop and slave
labor product importation.
Incidentally, the third co-suspect in the gasoline price hike of 2012 was the false rum-
or about Iranian oil exports being cut off from Iran's customers. Refer to: Oil & Gas
Journal, International Petroleum News and Technology: MARKET WATCH: False
tale of Iran cutting exports lifts oil prices. It is found at
http://www.ogj.com/articles/2012/02/market-watch-false-tale-of-iran-cutting-exports-lifts-oil-prices.html
In Review
In case you've missed the point, there was NOT any shortage of petroleum products in
the States. Rather, there was decreased American demand, coupled with an increase
in American production. This means that the prices of gasoline and diesel fuel should
have dropped throughout the United States. However, the opposite has occurred.
As a statistical average, 117 million GALLONS of fuel and other petrol products were
exported from the United States per DAY, in the Year 2011. For the first ten months
of 2011, the U.S. exported 848 million barrels of petrol products, at an total price tag
of $73.4 billion. The bottom line is that the sky wasn't falling in America, as FoxNews
made it seem to be, as far back as 2008. Rather, Chicken Little, it has been raining
petrol here.
At this point, we all need to be familiarized with oil futures speculation. The follow-
ing article was written so that even a junior high school student could understand it.
http://www.midnightdestiny.com/2011/10/investment-lesson.html
Then, at the very very very least, gloss over the following texts of mainstream news
media quality and professional journal quality:
USA Today: In a first, gas and other fuels are top U.S. export
http://www.usatoday.com/money/industries/energy/story/2011-12-31/united-states-export/52298812/1
The Wall Street Journal: U.S. Nears Milestone: Net Fuel Exporter
http://online.wsj.com/article/SB10001424052970203441704577068670488306242.html
USA Today, Money: Oil boomlet sweeps U.S. as exports and production rise
http://www.usatoday.com/money/industries/energy/story/2011-12-16/us-oil-boom/52053236/1
Bloomberg: Rising Gas Prices: Not Demand Driven
http://www.businessweek.com/finance/rising-gas-prices-not-demand-driven-02142012.html
Ktar Talk & News, Phoenix:
Don't blame oil companies for skyrocketing gas prices, blame speculators
http://ktar.com/6/1506171/Dont-blame-oil-companies-for-skyrocketing-gas-prices-blame-speculators
The Washington Post's Ezra Klein: America’s top export in 2011 was . . . fuel?
http://www.washingtonpost.com/blogs/ezra-klein/post/americas-top-export-in-2011-was--fuel/2011/12/31/gIQAzlvgSP_blog.html
CNN Money: Gasoline: The new big U.S. export
http://money.cnn.com/2011/12/05/news/economy/gasoline_export/index.htm
Econbrowser: U.S. net exports of petroleum products
http://www.econbrowser.com/archives/2011/12/us_net_exports.html
Anchorage Daily News: Fuel top US export for first time in 60 years
http://www.adn.com/2011/12/30/2239859/fuel-leading-us-export-for-first.html
Bloomberg:
Americans Gaining Energy Independence With U.S. as Top Producer
http://www.bloomberg.com/news/2012-02-07/americans-gaining-energy-independence-with-u-s-as-top-producer.html
The much more technical Futuresmag.com: The crude business of crude oil
http://www.futuresmag.com/Exclusives/2012/2/Pages/marketpulse021312.aspx
Stacy Curtin of the Daily Ticker, through Yahoo Finance:
What Energy Problem? U.S. Oil Exports Are on the Rise
http://finance.yahoo.com/blogs/daily-ticker/energy-problem-u-oil-exports-rise-174452881.html
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