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Seaway Oil Torrent Boosts Gas Cargoes as Scorpio Rises: Freight

Bloomberg -- The unprecedented flow of crude from the U.S. storage hub in Cushing, Oklahoma, to Gulf Coast refiners is poised to boost gasoline exports and tanker demand when most of the shipping industry is still losing money.

The Seaway pipeline reversed oil flows on May 17 for the first time since it opened in 1976 and will supply as much as 400,000 barrels a day by 2013. That will cut costs for refineries and encourage them to make more products for export,

The U.S. is already shipping a record amount of gasoline as domestic oil output reaches a 13-year high and fuel demand weakens. The U.S. prohibits most crude exports, spurring sales of refined products. Rates for Medium-Range tankers, each hauling 38,000 metric tons of gasoline, will rise 17 percent to $14,657 a day this year and to $16,000 i

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Submitted May 28, 2012 By: ccf_jeff

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greywolves Champion Author Las Vegas Posts:8,691 Points:2,432,125 Joined:Dec 2004	Message Posted: May 30, 2012 2:24:14 AM Ignore greywolves Report Abuse the buffoon be YOU. and the idiots be gulf oil refiners, those idiots will make the big profits exporting refined product at world prices. an those guys importing mid east oil to east coast refineries, that would be the bush family and the carlyle group. its called free market capitalism.
johntxx Champion Author Texas Posts:2,806 Points:620,320 Joined:Aug 2011	Message Posted: May 29, 2012 11:28:19 AM Ignore johntxx Report Abuse Exporting? Have we already met all of our needs with domestic oil? What idiot would export lower priced domestic oil and import high priced oil from the middle east? We must get rid of the buffoon that is currently occupying the White House!
36_ACRES_4_SALE All-Star Author Appleton Posts:999 Points:338,815 Joined:Oct 2011	Message Posted: May 29, 2012 3:47:52 AM Ignore 36_ACRES_4_SALE Report Abuse :)
djgunrunner Champion Author Salt Lake City Posts:10,121 Points:2,352,605 Joined:Apr 2005	Message Posted: May 29, 2012 3:25:36 AM Ignore djgunrunner Report Abuse Will it do the people in America any good? Will it cause the gas prices to drop or is this just another scam to get more money for Big oil and the Speculators? Is this what will happen if the Canadian Pipeline goes through? If it is then why do we need it? There should be an gasoline and diesel export tax on anything refined in the States.
humblepie Champion Author Toledo Posts:34,372 Points:2,375,370 Joined:Mar 2006	Message Posted: May 29, 2012 3:20:58 AM Ignore humblepie Report Abuse we arnt using it, why not export it ? obama's master plan in action...
mastermariner Champion Author Texas Posts:4,277 Points:497,725 Joined:Jun 2011	Message Posted: May 29, 2012 12:21:20 AM Ignore mastermariner Report Abuse Good
CdnLynx Champion Author Ontario Posts:1,028 Points:526,790 Joined:May 2008	Message Posted: May 28, 2012 10:57:38 PM Ignore CdnLynx Report Abuse VanIslerover - Curious comment from resident of British Columbia! Upon reading the article; clearly states, it's illegal for America to export crude (suspect that's what you mean by oil). For the sake of jobs they are allowed to refine and export refined gasoline to other countries, usually Mexico and S. America. Seems to me you didn't read article, jumped into rhetoric!
Jeff1944 Champion Author South Dakota Posts:4,249 Points:1,078,295 Joined:Jan 2010	Message Posted: May 28, 2012 10:55:22 PM Ignore Jeff1944 Report Abuse great news.
davenles Champion Author Texas Posts:3,221 Points:722,885 Joined:May 2011	Message Posted: May 28, 2012 10:02:45 PM Ignore davenles Report Abuse Yet our gas prices remain high.
rickone All-Star Author Detroit Posts:564 Points:397,315 Joined:May 2004	Message Posted: May 28, 2012 9:35:47 PM Ignore rickone Report Abuse Interesting - Thanks for posting.
VanIsleRover Champion Author British Columbia Posts:2,518 Points:591,365 Joined:Apr 2010	Message Posted: May 28, 2012 9:35:13 PM Ignore VanIsleRover Report Abuse Why not keep the oil in the USA, refine it in the USA, sell it to the USA people who deserve to buy USA produced goods. USA first!
bandannaman Champion Author New Jersey Posts:1,849 Points:365,610 Joined:Dec 2010	Message Posted: May 28, 2012 9:33:09 PM Ignore bandannaman Report Abuse Freaky ma.
buckets42 Champion Author New Jersey Posts:1,690 Points:329,550 Joined:Oct 2011	Message Posted: May 28, 2012 9:29:12 PM Ignore buckets42 Report Abuse The moon is in the seventh sky.
SandOwl Champion Author Cleveland Posts:3,305 Points:752,475 Joined:Jul 2005	Message Posted: May 28, 2012 9:11:40 PM Ignore SandOwl Report Abuse Flow baby, flow
comprof Champion Author Houston Posts:6,882 Points:1,360,750 Joined:Jul 2009	Message Posted: May 28, 2012 8:12:05 PM Ignore comprof Report Abuse Great! U.S. exports of any kind mean more jobs for Americans. We would have a lot more exports if it were not for unions and Obama.
kicksoholic Veteran Author San Francisco Posts:307 Points:98,645 Joined:May 2011	Message Posted: May 28, 2012 8:08:52 PM Ignore kicksoholic Report Abuse interesting article. i remember hearing that the oil reverse flow was going to happen soon.