Global Oil Exports In Decline Since 2006
Kurt Cobb | Sep 24, 2012 02:13AM ET
Brown said importers around the world are already being forced to respond to an ongoing decline in net exports. "We are on our way to energy independence," he joked. "Just not in the way that we expected." The United States and other developed countries are now being outbid by the developing world for oil and ending up with a declining share of a declining supply of exports. "While the recent rise in U.S. production will help, it will not save us," he added. That's because the rise is too modest to put much of a dent in imports which have declined primarily because Americans have simply cut back their consumption of gasoline and other petroleum products.
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