Some interesting things are happening with gasoline and other petroleum products. In 2005, the United States was a net importer of petroleum products to the tune of 2.5 million barrels per day. That very long-term trend is reversing itself. In 2012, our nation shifted to exporting one million barrels per day (Steve Everly, “U.S. Becomes Net Gasoline Exporter,” The Kansas City Star, June 18, 2013, pp. C1, C7).
This change is significant for two very positive reasons. First, our refineries are operating at sufficient capacity to meet our needs. Second, our nation is less dependent on foreign oil sources and therefore less vulnerable to their whims.
I think this trend reversal sneaked up on many people, and I am one of them. Nevertheless, I am one who is not complaining either.