A Global Energy Superpower Rises
The big question about America’s energy boom is not how much it will produce, but how much it can export.
When it comes to crude oil and other hydrocarbons, the United States is bursting at the seams. The United States has very rapidly become a powerhouse as an exporter of finished petroleum products, natural gas liquids, other oils including ethanol, and even crude oil — with total gross exports of all of these combined expected to reach 5 million barrels per day (mb/d) or more by the end of this year, up a stunning 4 mb/d since 2005. Total oil exports in 2014 pushed the commodity to the top of the list of U.S. exports by category, far surpassing all agricultural products, capital goods, even aircraft as the largest sector of U.S. export trade. Meanwhile, U.S. crude oil exports, largely to Canada, are 500 percent above what they were a year before, and are heading for around 500,000 b/d by year end.A Global Energy Superpower Rises by Thavam Ratna
