This is not a misprint. According to US Energy Information Administration that's exactly what happened.
Surprising? Not surprising at all.
In fact, it's an all time high.
Exports doubled in 5 years
The world still needs more oil because global population is growing. Every human as soon as they are born require energy. As humans become adults, the energy consumption grows.
Even before sanctions imposed in Russia, US exports of crude oil and petroleum products steadily increased - effectively by 200% in 5 years.
30 million barrels of oil departed the U.S. last week
According to TankerTrackers.com (the tanker-tracking service) , 15 very large crude carriers (VLCCs) or ultra-large crude carriers (ULCCs)—each capable of carrying 2 million barrels of oil—departed U.S. ports last week.
Will the US export more oil?
Yes.
New oil export terminal approved by US Administration
The approval by the Department of Transportation’s Maritime Administration was filed in the federal register without any public announcement, a day after the United Nations’ annual climate conference wrapped up in Sharm el-Sheik, Egypt.
That's right - one day after the United Nations annual climate conference.
The Sea Port Oil terminal - located 30 miles from the Texas coastline - would increase the export capacity by an additional 2 million barrels a day.
In its 94-page decision, the Maritime Administration wrote, “The construction and operation of the Port is in the national interest because the Project will benefit employment, economic growth, and U.S. energy infrastructure resilience and security. The Port will provide a reliable source of crude oil to U.S. allies in the event of market disruption.”
The strategic goal to ensure reliable energy supplies is much more important than ever before.
TerraManta agrees.
3 more oil export terminals are planned
The Sea Oil Port Terminal, the first to be approved of four proposed along Texas’ Gulf Coast, will enable continued growth in U.S. shale oil production and in global consumption.
Are our priorities correct?
“Not always.”
First - invest in the expansion of electric grid capable of supporting electric vehicles sales.
Second - make meaningful progress to generate more electric power from renewable sources.
Third - communicate effectively while realizing that the current energy transformation process will take time.