China is importing a lot of US oil that is shipped from Texas Gulf ports
Fuel Fix:
The Texas Gulf Coast is leading the way as the nation ships out record levels of crude oil and petroleum products to foreign markets, including China, which is buying more American oil.This is a smart move by China. The US is already its largest trading partner and President Trump has made it clear he wants to see more balance in that trade. It is also another example of the shortsightedness of West Coast ports which appear to be dominated by the anti-energy left. That is one of the main reasons the Bakken Crude is flowing to Texas for export.
The United States is routinely exporting more than 1 million barrels of oil a day and shipping out more than 6 million barrels of total petroleum a day, according to the U.S. Energy Department. More than two-thirds of those petroleum exports are shipped through Gulf Coast ports.
In the aftermath of Hurricane Harvey, which wreaked havoc along the Texas Gulf Coast, the International Energy Agency deemed the region "too important to fail" as a global energy trading hub.
Oklahoma City-based Continental Resources said this week it's piping more than 1 million barrels of Bakken shale oil from North Dakota down to Texas ports to export o China.
RELATED: Oil inventories take big dip
No matter what the Organization of the Petroleum Exporting countries does to try to offset American oil growth, leaner and meaner U.S. companies keep expanding the country's global market share, said Ethan Bellamy, an energy analyst at Robert W. Baird & Co.
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