AM-14-49 Trends in U.S. Refined Product Supply/Demand Balances

Description:

From 1990 through 2005, the phrase “reduce our dependence on foreign oil” was commonplace in any U.S. political discussion. By 2005, the U.S. had become the world’s leading net importer of petroleum products, which sparked concern among Americans that the U.S. was at an increased risk of a disrupted petroleum supply similar to the 1970s oil embargoes. Since that time, every political administration in the past 30 years has rolled out a national energy policy that effectively reduced petroleum demand long-term. The most recent administrations have relied on two government policies (RFS and CAFE) that significantly impact the outlook on petroleum demand in the U.S.