As Oil Firms Seek Drilling Access, Exports Set Record

CNBC with a 'recommended read'.

While the U.S. oil industry wants access to more federal lands to help reduce reliance on foreign suppliers, U.S.-based companies are shipping record amounts of gasoline and diesel fuel to other countries.

The surge in exports appears to contradict the pleas from the U.S. oil industry and the Bush administration for Congress to open more offshore waters and Alaska's Arctic National Wildlife Refuge to drilling.

"We can help alleviate shortages by drilling for oil and gas in our own country," President Bush told reporters this week. "We have got the opportunity to find more crude oil here at home."

U.S. consumers are paying record prices for gasoline and diesel fuel, which the Bush administration blames in part on tight supplies.

While the administration argues that more supplies would help to bring down prices, U.S exports of diesel fuel in April averaged 387,000 barrels per day, up almost seven-fold from 59,000 barrels a day in the same month a year earlier.

It isn't for our benefit Bush wants to open up new drilling. It's so his oil cronies will have more to sell everywhere. And for healthier currencies than the dollar.

We will, of course, continue to be screwed and Bush will continue to lie and blame the Democrats.

Yes, we have to change our energy consumption habits. Yes, we must develop other sources of energy. Yes, we need to get rid of oil men in power so we can get a sane energy policy.

And yes, we will continue to pay through the nose. The bottom line is the bottom line.