U S Oil Imports Context And Considerations
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U S Oil Imports Context And Considerations
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Author :
language : en
Publisher: DIANE Publishing
Release Date :
U S Oil Imports Context And Considerations written by and has been published by DIANE Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
U S Oil Imports
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Author : Neelesh Nerurkar
language : en
Publisher:
Release Date : 2011
U S Oil Imports written by Neelesh Nerurkar and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.
This report discusses U.S. oil imports and trade deficit. Other policy considerations by congress are discussed in this brief.
U S Crude Oil Export Policy
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Author : Congressional Research Service
language : en
Publisher: CreateSpace
Release Date : 2014-12-31
U S Crude Oil Export Policy written by Congressional Research Service and has been published by CreateSpace this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-12-31 with Political Science categories.
During an era of oil price controls and following the 1973 Organization of Arab Petroleum Exporting Countries oil embargo, Congress passed the Energy Policy and Conservation Act of 1975 (EPCA), which directs the President “to promulgate a rule prohibiting the export of crude oil” produced in the United States. Crude oil export restrictions are codified in the Export Administration Regulations administered by the Bureau of Industry and Security (BIS)—a Commerce Department agency. Generally, U.S. crude oil exports are prohibited, although there are a number of exemptions and circumstances under which crude oil exports are allowed. The President has authority to allow certain crude oil exports if an exemption is determined to be in the national interest. In 2009, a decades-long U.S. oil production decline was reversed due to the application of advanced drilling and extraction technologies to produce tight oil, generally light/sweet crude primarily located in Texas and North Dakota. Limited demand for tight oil and condensate being produced in the Texas/Gulf Coast region may result because certain refiners in that region are currently configured to process heavier crudes. As a result, oil producers and industry analysts are projecting an oversupply of light oil, which could lead to price discounts and lower production should export restrictions remain. However, the industry is dynamic, and refiners can modify operating configurations and add equipment in order to accommodate more light crude volumes. Price discounts may be needed to motivate such changes. The effect on domestic gasoline prices is a major consideration, among several, associated with allowing crude oil exports. Commercial studies and federal government analysis suggests that gasoline prices are correlated to international crude oil prices—since gasoline and other petroleum products can be exported without restriction—and U.S. gasoline prices could possibly decrease if crude oil exports were allowed. However, the projected decreases—assuming ~$100 per barrel crude oil prices—are relatively small and range from $0.02 to $0.12 per gallon. Congress may choose to consider crude oil export policy options that could range from maintaining existing restrictions to eliminating the prohibition on crude oil exports. During the 113th Congress, four bills were introduced that would have eliminated crude oil export restrictions: H.R. 4286, H.R. 4349, S. 2170, and H.R. 5814. Some Members of Congress have expressed the desire to maintain crude oil restrictions. However, maintaining restrictions might not prevent more crude-oil-like material from being exported, because varying interpretations of existing regulations may allow for more exports. The crude oil definition in the export regulations is open to interpretation and has many undefined terms that the industry may explore with the objective of determining the minimum amount of crude oil processing necessary that would result in an exportable product. It is not clear how broadly or narrowly BIS might interpret existing laws and regulations. Finally, Congress may choose to explore other options between eliminating and maintaining restrictions. Examples may include allowing exports of lease condensate—an ultralight hydrocarbon that is typically produced with natural gas—allowing unrestricted exports to Mexico since exports to Canada are not restricted, allowing a certain type of crude (i.e., light/sweet) from a certain location (i.e., Texas) to be exported—much like the California heavy crude oil export exemption—or allowing crude oil exports for a limited time period since U.S. oil production growth is uncertain and may, according to the Energy Information Administration, peak in 2020. The President has the authority to make national interest determinations that would allow for more crude oil exports.
Limiting Oil Imports
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Author : Douglas R. Bohi
language : en
Publisher: Routledge
Release Date : 2013-11-26
Limiting Oil Imports written by Douglas R. Bohi and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-11-26 with Business & Economics categories.
First Published in 2011. This book presents the results of the third phase of our analysis of U.S. oil imports in relation to U.S. energy policy. It presents a definitive history and analysis of the United States' experiment with formal oil import controls and addresses three questions: The first is how the U.S. energy situation, especially energy security, was affected by what was going on in the rest of the world. The second is the more narrow issue of what energy security options appeared available to the United States from the perspective of the special conditions which existed during 1974-75. The third question, the main subject of this book, and the one with which we initially began, was what lessons might be learned from earlier efforts to limit imports, especially through the Mandatory Oil Import Program.
Oil Import Policy Issues
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Author : United States. Congress. House. Committee on Ways and Means. Subcommittee on Trade
language : en
Publisher:
Release Date : 1979
Oil Import Policy Issues written by United States. Congress. House. Committee on Ways and Means. Subcommittee on Trade and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1979 with Petroleum industry and trade categories.
Domestic And International Petroleum Situation And The Implications Of Fees On Imported Oil
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Author : United States. Congress. Senate. Committee on Energy and Natural Resources
language : en
Publisher:
Release Date : 1986
Domestic And International Petroleum Situation And The Implications Of Fees On Imported Oil written by United States. Congress. Senate. Committee on Energy and Natural Resources and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1986 with Petroleum categories.
Domestic And International Petroleum Situation And The Implications Of Fees On Imported Oil
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Author : United States. Congress. Senate. Committee on Energy and Natural Resources
language : en
Publisher:
Release Date : 1986
Domestic And International Petroleum Situation And The Implications Of Fees On Imported Oil written by United States. Congress. Senate. Committee on Energy and Natural Resources and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1986 with Petroleum categories.
Oil And World Power Routledge Revivals
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Author : Peter R. Odell
language : en
Publisher: Routledge
Release Date : 2013-10-14
Oil And World Power Routledge Revivals written by Peter R. Odell and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-10-14 with Business & Economics categories.
The oil industry is the world’s largest commercial enterprise. Its extent is global; international issues are consistently influenced by considerations of oil production and consumption, while the international communications networks of the larger oil companies rival those of many nations. In this, the eighth edition of Oil and World Power, published in 1986, Peter Odell explains the complexities of this gigantic empire and its influence on the world. The far-reaching chapters discuss the U.S.A, the Soviet Union, O.P.E.C., Japan and the oil-consuming countries of the developing world. Evaluating the changing patterns of oil supply and the dramatic fall in oil prices in 1986, Odell proposes a number of forward-thinking conclusions surrounding the relationship between oil in global politics and economic development. This is an exceptionally interesting and relevant work, of great value to those with an interest in the oil industry, global power and international economic development.
U S Oil Imports And Exports
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Author : Neelesh Nerurkar
language : en
Publisher: CreateSpace
Release Date : 2013-07
U S Oil Imports And Exports written by Neelesh Nerurkar and has been published by CreateSpace this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-07 with Business & Economics categories.
Over the last six years, net oil imports have fallen by 33% to average 8.4 million barrels per day (Mb/d) in 2011. This represents 45% of domestic consumption, down from 60% in 2005. Oil is a critical resource for the U.S. economy, but despite policy makers' longstanding concern, U.S. oil imports had generally increased for decades until peaking in 2005. Since then, the economic downturn and higher oil prices were a drag on oil consumption, while price-driven private investment and policy helped increase domestic supply of oil and oil alternatives. Net imports are gross imports minus exports. The decline in net imports has manifested itself as a decrease in gross imports and an increase in exports of petroleum products. Gross U.S. imports of crude oil and petroleum products averaged 11.4 Mb/d in 2011, down 17% since 2005. More than a third of gross imports came from Canada and Mexico in 2011. About 40% came from members of the Organization for the Petroleum Exporting Countries (OPEC), mostly from OPEC members outside the Persian Gulf. Regionally, the largest share of U.S. imports come into the Gulf Coast region, which holds about half of U.S. refining capacity and sends petroleum products to other parts of the country and abroad. All regions of the country import more crude than refined products except for the East Coast, where petroleum products imports may rise further due to refinery closures. U.S. oil exports, made up almost entirely of petroleum products, averaged 2.9 Mb/d in 2011. This is up from export of 1.2 Mb/d in 2005, led by growing export of distillates (diesel and related fuels) and gasoline. More than 60% of U.S. exports went to countries in the Western Hemisphere, particularly to countries such as Mexico and Canada from which the U.S. imports crude oil. Exports occur largely as a result of commercial decisions by oil market participants which reflect current oil market conditions as well as past investment in refining. As a result, net oil imports fell from a peak of 12.5 Mb/d in 2005 to 8.4 Mb/d in 2011, their lowest level since 1995. A consensus is generally emerging among energy analysts that U.S. oil imports may be past their peak, reached in 2005. Imports as a share of consumption are expected to fall further, to less than 40% after 2020 driven by tighter fuel economy standards and increased domestic supply. Despite the decline in net import volumes, the cost of net imports has increased due to rising oil prices. The aggregate national cost of oil imports is a function of the volume of oil imported and the price of that oil. The United States spent about $327 billion on net oil imports in 2011. Being a net importer of a particular good is not necessarily negative for an economy, but greater national oil import dependence can amplify the negative economic impacts of oil price increases. Oil import and export developments pose a host of policy issues. Concerns about import dependence continue to generate interest in policy options to directly discourage imports or to reduce the need for imports by increasing domestic supply and decreasing demand. Rising exports at a time of rising prices has led to calls for policies to restrict such trade. The debate around the Keystone XL pipeline involves concerns about imports, exports, and the environment. The rising cost for fuels has led to calls for release of the Strategic Petroleum Reserve, meant to provide a short term policy option in case of supply disruptions. Policy options may entail various economic, fiscal, and environmental trade-offs.
U S Crude Oil Export Policy
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Author : Phillip Brown
language : en
Publisher:
Release Date : 2014
U S Crude Oil Export Policy written by Phillip Brown and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with Export controls categories.