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Oil boomlet sweeps U.S. - Can it last?

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  • Oil boomlet sweeps U.S. - Can it last?

    Oil boomlet sweeps U.S. as exports and production rise

    The U.S. exported more oil-based fuels than it imported in the first nine months of this year, making it likely that 2011 will be the first time since 1949 that the nation is a net exporter of such goods, primarily diesel.

    That's not all. The U.S. has reversed another decades-long trend. It began producing more crude oil in 2008 than the year before and accelerated that upswing 3% in the first nine months of this year compared with the same period in 2010. That production has helped reduce U.S. imports of crude oil by about 10% since 2006.
    But there is a downside . . . .

    Not all are cheering. The changes are exacting a brutal toll on the nation's health and environment, says Susan Casey-Lefkowitz of the Natural Resources Defense Council (NRDC), citing the greenhouse gas emissions of producing and refining fossil fuels.

    The U.S., the world's second-largest greenhouse gas emitter after China, produced 4% more carbon dioxide last year than in 2009, when emissions dipped because of the recession, according to the Global Carbon Project, an international group of scientists.
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