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Saturday
Dec312011

Census: Largest US Export is Oil, Despite Dependence on Foreign Oil

Digital Vision/Thinkstock(WASHINGTON) -- It is a paradigm shift in the world of exports. The United States now exports more oil products than anything else.

For a country so dependent of foreign oil, you wouldn't expect the U.S. to be a major supplier of refined oil products.  But the Census Bureau says we are.

For the first time, gasoline, diesel and jet fuel are expected to be the nation's top exports. Ten years ago, oil wasn't even among the top 25 exported products.

The new figures do not indicate that we are close to energy independence. The U.S. is still the world's largest importer of crude oil.

Copyright 2011 ABC News Radio

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