U.S. Gas Exports Force Drivers Into Bidding War With Mexico At Pump

The Huffington Post, 2/23/12

Conservation, high prices, and hard times have led American motorists to dramatically decrease the amount of gasolinethey buy.

But how are they rewarded? With even higher prices, in part because American refiners have started exporting enormous amounts of American gasoline to Mexico and other countries.

Exports of petroleum products — mostly diesel and gasoline — have increased sharply in the last two years, to about a billion barrels in 2011. For the first time, the U.S. is exporting considerably more finished products (though not crude) than it’s importing.

Read more…

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