[Poordogabone]

I am confused by some data floating in the media with astounding claims.
My stupid logic tells me that if the US consumes ∼19Mb/d and produces ∼9Mb/d, that would translate to a net import of ∼10Mb/d, over 50% of US consumption but I stumble on articles like this and have to scratch my head. Anyone can enlighten me. Thx

$this->bbcode_second_pass_quote('', '�')��Rising monthly crude oil production, which will approach 10 million barrels a day in late 2015, will help cut U.S. fuel imports to just 21 percent of domestic demand, the lowest since 1968,” Sieminski said.

[toolpush]

$this->bbcode_second_pass_quote('Poordogabone', 'I') am confused by some data floating in the media with astounding claims.
My stupid logic tells me that if the US consumes ∼19Mb/d and produces ∼9Mb/d, that would translate to a net import of ∼10Mb/d, over 50% of US consumption but I stumble on articles like this and have to scratch my head. Anyone can enlighten me. Thx

$this->bbcode_second_pass_quote('', '�')��Rising monthly crude oil production, which will approach 10 million barrels a day in late 2015, will help cut U.S. fuel imports to just 21 percent of domestic demand, the lowest since 1968,” Sieminski said.

[Paulo1]

That's a bit of shenanigans, isn't it? I am trying to think of any industry that does something similar, but can't...at least not in volume, only in value-added.

[westexas]

Based on the most recent four week running average data, the US was reliant on net crude oil imports for 42% of the crude oil processed in US refineries (net crude oil imports of 6.9 mbpd and crude oil inputs of 16.4 mbpd).

Again based on the most recent four week running average data, on a total liquids basis US net imports were 5.9 mbpd, which was 29% of total product supplied (20.2 mbpd). The total liquids calculation takes into account gross imports and exports, biofuels production and refinery gains.

http://www.eia.gov/dnav/pet/pet_sum_sndw_dcus_nus_4.htm

[Pops]

US refiners don't sell all their product to the US consumer, they export a lot, so if you credit all imports to all exports first it is kinda disingenuous but probably factually true.

[Poordogabone]

$this->bbcode_second_pass_quote('toolpush', '
') Strangely enough, inputs don't equal outputs. Oil going into a refinery and what comes out. It is called refinery gain, basically, long carbon chains get broken up, H2 is added to these shorter chains and the volume increases.

[Keith_McClary]

$this->bbcode_second_pass_quote('toolpush', 'S')trangely enough, inputs don't equal outputs. Oil going into a refinery and what comes out. It is called refinery gain, basically, long carbon chains get broken up, H2 is added to these shorter chains and the volume increases.