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Nordic American Tankers Limited Message Board

  • low_mac low_mac Oct 7, 2013 3:23 PM Flag

    Ship, baby, ship! Calls come for US to export oil

    Now that the U.S. has edged past Russia as the world's largest oil and gas producer, the drumbeat to export some of that oil bounty is expected to get louder as U.S. production continues to grow.

    http://www.cnbc.com/id/101087815

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    • davidbogdanoff@sbcglobal.net davidbogdanoff Oct 8, 2013 11:08 PM Flag

      isn't there a law prohibiting the export of crude oil from the US? If so, the law would need to be changed. Is that easy? Probably not. "Our" oil would no longer be ours; it belongs to the producers who would be free to do whatever they want, unless the law were changed again, thus coming full circle to where we are.

    • what ships, which ports, and where would it go? And I guess I should ask, what company services this part of the world? Also, it took years to get permits to export nat gas.....how long from now could or would someone ship oil....... Now as an oil guy, let me throw this in for you......the call to export oil....no one tells anyone to export oil. One does it if one can make money. The only reason to spend money exporting oil...and hoping you get paid for it....is you will get a premium. There used to be a big premium....WTI vs Brent for example. Not so much anymore. The only exports I can see taking place would be from our West Coast to japan.

      • 1 Reply to grgsvll
      • I'm not an oil guy...but isn't most of what the US produces light blends, and aren't we pretty close to producing all the light blend oil we can use? I thought we needed to blend darker blends of oil with what we had to get our refineries to run right. My guess is that while Brent/WTI spreads are narrow now, given the increase in production that's coming, they probably widen considerably again over the next two years, and you do see a push for exports of light oil. But by the time you get the infrastructure approved and built, it's going to be a few years.

 
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