While debate about exporting more natural gas continues, the US has become an energy export powerhouse during 2012, thanks to coal, diesel, and gasoline exports. America will set new records for exporting coal, gasoline, and diesel this year, a turn of events that would have been recently unthinkable.
Through August, 2012, the US was on its way of smashing the 1981 coal export record of 113 million tons. Exports have been roaring all year, with all time monthly marks for exports being set in April and June. Going to Asia and Europe, US coal exports will total 125 million tons when the books close on this year, according to EIA. www.eia.gov/todayinenergy/detail.cfm?id=8490.
The energy export boom is not just coal. Exports of gasoline and diesel are rocketing up too.
The US just last year became a net exporter of gasoline and diesel for the first time since 1949. Exports have nearly tripled so far in 2012, reaching 975,000 barrels on average per day.
What are the prospects for still more growth in US energy exports? Global demand for energy is rising, and US energy is among the cheapest in the world. And so continued growth in energy exports is likely.
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