US now a net exporter of Gas/diesel

[Bruce Nunnally]

Yet for the first time in 62 years, the U.S. will export more refined petroleum products -- gasoline and diesel -- than it imports.

"It's preposterous," said Adeli. "It's ridiculous."

In the first nine months of this year, the U.S. exported a net 64 million barrels of gas and diesel -- enough to run America's engines for a week. With the U.S. economy in the doldrums, we're using less fuel. Gasoline, and especially diesel from American refineries, is following demand -- flowing to growing economies in Central and South America.

Tom Kloza is chief oil analyst for the Oil Price Information Service.

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