We all know that the United States is an importer of petroleum products. The United States is also an exporter of petroleum products, primarily to Mexico and Canada. Both of these countries send us crude oil, and we export refined products back to them. We often hear that Canada and Mexico are our largest sources of petroleum product imports, but is this really true if we net out exports? Canada remains number 1 on when we net out exports, but Mexico drops to fifth place in 2008. (Mexico drops to third place in 2008, without netting out exports, because of its declining volume.)
Figure 1: US Net Imports of crude oil and petroleum products, based on EIA data. 2008 is July 2008 YTD value....
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...We have been exporting more refined products in recent years, with the big recipients being Mexico and Canada. For all countries combined, this is the EIA graph of US petroleum products exports.
Figure 4: EIA Graph showing US exports of petroleum products.
Our biggest exports to Canada in 2007 were residual fuel oil, 32,000 bpd; crude oil, 27,000 bpd; and coke, 23,000 bpd. To Mexico, our biggest exports in 2007 were gasoline, 101,000 bpd; coke, 47,000 bpd; and distillate, 34,000 bpd. Of these, residual fuel oil and coke are byproducts that we have an excess amount of. Coke is used as a substitute for coal.
Clearly, exports have been growing rapidly. A few years ago, one could make the argument that exports were immaterial, and could be ignored. It seems to me that one needs to consider the combination of imports and exports in analyses today.
Robert Rapier wrote related post in April 2008 called US Oil and Gasoline Import Statistics.
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