Today, President Obama is at a Boeing plant, talking about jobs. Aircraft used to be the largest US Export, back in 2008 and 2009, but not anymore. Now, America's biggest export, is fuel. Yep, The USA, who has 5% of the world's population, but who consumes 20% of the world's natural resources, is exporting more fuel - at record prices I might add - to the rest of the world than any other export, according to US Census data. (read about it here in the Boston Globe, here in the Pittsburgh Gazette, or here in USA Today).
Why do we need the Keystone XL pipeline? For Exxon Mobile, Chevron and ConocoPhillips to make larger profits of course! As Americans, we need to 'drill baby drill!' and get all that nasty, hard to extract Canadian oil sand contaminated crude pumped down to Texas, before our Canadian friends try to build a pipeline over the Rockies (and through Indian lands!) to sell it to China!
The US market is not so thirsty anymore, with all those pesky wind mills popping up, and all those efficient hybrid cars, and the rise in CAFE standards, as well as most Americans sinking lower in the 99% with less buying power to purchase ever more expensive gasoline & plane tickets. It's in the USA's national interests to have XOM, CVX, and COP to rise as much as possible, and build share holder wealth. Don't listen to all the malarkey about "Energy Independence" - yes, the US is still a net importer of crude oil, but we're refining more than we need and exporting it. Exporting it to other countries who pay heavily for it, raising the share prices of the largest US refiners. Who is making all this refined fuel? Well, I'll show the top 25 here... so everyone can see my point.
RANK CORPORATION Barrels per Calendar Day
1 EXXON MOBIL CORP Texas BAYTOWN 560,640
2 EXXON MOBIL CORP EBATON ROUGE 502,000
3 HOVENSA LLC KINGSHILL 500,000
4 MARATHON OIL CORP Louisiana GARYVILLE 464,000
5 CITGO PETROLEUM CORP Louisiana LAKE CHARLES 427,800
6 BP PLC Texas TEXAS CITY 406,570
7 BP PLC Indiana WHITING 405,000
8 WRB REFINING LLC Illinois WOOD RIVER 362,000
9 EXXON MOBIL CORP Texas BEAUMONT 344,500
10 SUNOCO INC Pennsylvania PHILADELPHIA 335,000
11 CHEVRON CORP Mississippi PASCAGOULA 330,000
12 DEER PARK REFINING LTD Texas DEER PARK 327,000
13 VALERO ENERGY CORP Texas PORT ARTHUR 292,000
14 KOCH INDUSTRIES INC Texas CORPUS CHRISTI 290,078
15 MOTIVA ENTERPRISES LLC Texas PORT ARTHUR 285,000
16 ACCESS INDUSTRIES Texas HOUSTON 280,390
17 CHEVRON CORP California EL SEGUNDO 273,000
18 KOCH INDUSTRIES INC Minnesota SAINT PAUL 262,000
19 BP PLC BP West Coast California LOS ANGELES 253,000
20 CONOCOPHILLIPS Louisiana BELLE CHASSE 247,000
21 CONOCOPHILLIPS Texas SWEENY 247,000
22 CHEVRON CORP California RICHMOND 245,271
23 CONOCOPHILLIPS Louisiana WESTLAKE 239,400
24 EXXON MOBIL CORP Illinois JOLIET 238,600
25 CONOCOPHILLIPS New Jersey LINDEN 238,000
9 years ago
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