Armed Polite Society
Main Forums => The Roundtable => Topic started by: dm1333 on March 17, 2012, 02:38:02 PM
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http://cnsnews.com/news/article/venezuelas-oil-exports-us-decline
Venezuela's oil exports to the United States have dipped in recent months to their lowest level in nearly nine years, according to new U.S. government figures, reflecting a long-term trend of declining oil shipments during President Hugo Chavez's 13-year-old government.
Chavez has denied that Venezuela is losing financially through its oil deals with China and Caribbean countries, saying the country is on a better financial footing as a result of diversifying.
Chavez was also upset that China resold some of that oil for a large profit. After he sold it to China at $5 a barrel.
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I read an article late last year that the US has become a net exporter of refined products, particularly gasoline. With the recent permanent closing of several refineries on the East Coast, the closing of the large USVI refinery, and other refineries closing of late, how long until we once again become a net importer of refined products?
No new refineries have been built in the US in approximately 35 years. (new in the sense of on virgin real estate)