Quote:
Originally Posted by charmalu
I have seen it mentioned here before that 40% of the Diesel refined in the USA is exported.
I read in the paper that with more fuel efficient cars, and the bad economy, people are driving less which causes an over supply of fuel.
There are a number of countries that are rapidly growing and their economies are increasing, which allows more and more people in those countries to buy automobile`s. It is all about supply and demand and any good business person will sell to the highest bidder.
usually when the demand drops for a product, so does the price, but doesn`t work that way for petrolium products.
As I remember the article, we import more crude oil than we export the finished product.
Charlie
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I've just recently heard about this too. It's an interesting turn around for the US. We buy oil from third world countries then refine it and sell it to other world markets.