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Rep. Edward J. Markey, Chairman - Stay Connected with Facebook, Twitter, YouTube and RSS Feeds
The Select Committee on Energy Independence and Global Warming addressed our nation's energy, economic and national security challenges during the 110th and 111th Congresses.

This is an archived version of the committee's website, where the public, students and the media can continue to access and learn from our work.

Fact Sheet: The Exporting of US Oil Supply by Big Oil


In 2008, the year when gas hit $4 a gallon, Big Oil actually EXPORTED more U.S. oil to foreign countries than at any other time in history. That’s right. While consumers suffered at the pump, 2.027 million barrels per day of domestically-produced, American oil and petroleum products were shipped overseas in one month alone. That export level amounts to approximately 10 percent of all the oil the United States consumes every day.

Record Breaker:

Big Oil companies, who are projected to make $160 billion in profits this year alone, increased domestic exports to record levels in 2008 – the same year the price of gas has broken $4 a gallon.

Where Has Big Oil Been Sending U.S. Oil Supply?:

Since 2002, Big Oil has been sending American oil and petroleum products to many foreign nations including:

South Korea

Questions Surround Republican Offshore Drilling Agenda:

President Bush, Minority Leader John Boehner and the Republican caucus have promised the American people that drilling off America’s beaches is the answer to the current energy crisis. This despite Bush’s own Department of Energy stating that additional drilling will have an “insignificant” impact on the price at the pump, and not for 7 to 10 years at the earliest.

Meanwhile, speculators -- who are responsible for driving the cost of a barrel of oil to a record $140 per barrel this summer -- blamed the spike in the price of oil on demand pressure from China and India. This raises serious questions about the Republican plan –are they planning to give Big Oil more public lands, just so these profit rich companies can Drill Here, Drill Now, only to send our oil to places like China and Venezuela?

For additional information, and a copy of a letter Cong. Edward Markey sent to President Bush on oil export issue, please CLICK HERE.


PLEASE NOTE: The House Select Committee on Energy Independence and Global Warming was created to explore American clean energy solutions that end our reliance on foreign oil and reduce carbon pollution.

The Select Committee was active during the 110th and 111th Congresses. This is an archived version of the website, to ensure that the public has ongoing access to the Select Committee record. This website, including external links, will not be updated after Jan. 3rd, 2010.

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