U.S. exports record amount of refined fuels in 2011
By Ronald D. White, Los Angeles Times
December 30, 2011, 8:24 p.m.
U.S. refineries exported a record amount of refined fuels in 2011 to markets in South America, Central America and Europe. It was one reason why Americans spent a record amount on gasoline this year: Supplies that might have helped lower prices here had been shipped abroad.
In 2007, U.S. exports of all kinds of fuel held steady throughout the year at 1.24 million to 1.25 million barrels a day, according to Energy Department statistics.
But by 2011, exports of diesel, gasoline and other products surged. In November and December, U.S. fuel exports averaged between 2.77 million and 2.89 million barrels a day, the highest ever.
Meanwhile, U.S. drivers paid an average of about $3.50 a gallon for gasoline during the year, also the highest ever.
1. How much do Asian country's Oil Subsidies effect the cost
China's central government budget, published by the finance ministry last week, appropriated 29.647 billion yuan for fuel subsidies for urban and rural public transport and some other public service industries in 2011, a rise of 58 percent over the figure of 18.711 billion in 2010.