WASHINGTON, Nov. 30, 2011 /PRNewswire-USNewswire/ -- A new report that says growing American exports of petroleum fuels may enable the United States to become a net exporter of refined petroleum products this year for the first time since 1949 is good news for our nation, National Petrochemical & Refiners Association President Charles T. Drevna said today.
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According to the report issued Tuesday by the U.S. Energy Information Administration, America exported 753.4 million barrels of refined petroleum fuels in the first nine months of 2011, while importing 689.4 million barrels.
"At a time when America's unemployment rate remains stuck at 9 percent and our nation is sending billions of dollars abroad to purchase foreign products made by foreign workers, it's gratifying to know that American fuel manufacturers are doing our part to keep Americans employed and to strengthen the U.S. manufacturing sector," Drevna said.
"American refiners still face challenges from a blizzard of existing and new regulations that are costly and, in some cases, conflicting," Drevna said. "These regulations threaten to reverse this new trend in American fuels production and further raise consumer costs. There are also still regions of the country that are challenged by the prospect of import competition in a competitive global marketplace. These pressures are likely to increase as America emerges from the recession."
"If exports of fuels refined in America continue as a trend rather than proving to be a one-time anomaly, it will be a positive development for American energy security." Drevna said. "It will also result in more American jobs, more tax revenue for government at all levels, and a faster recovery for our nation's economy. This recovery could be accelerated even more if the U.S. government allowed increased production of oil and natural gas in our own country and if the Keystone XL pipeline is built to carry more oil from our close friend and neighbor Canada to U.S. refineries."
"America's refineries are the most efficient in the world and our workers are the best in the world," Drevna said. "For years, elected officials have justifiably complained about the export of American jobs and the decline of American manufacturing. American fuel manufacturers want to keep working to reverse that disturbing trend and to strengthen America's economic and national security."
NPRA is a trade association representing high-tech American manufacturers of virtually the entire U.S. supply of gasoline, diesel, jet fuel, other fuels and home heating oil, as well as the petrochemicals used as building blocks for thousands of vital products in daily life. NPRA members make modern life possible and keep America moving and growing as they meet the needs of our nation and local communities, strengthen economic and national security, and provide jobs directly and indirectly for more than 2 million Americans.
SOURCE National Petrochemical & Refiners Association
