Oil and Natural Gas Exports Past, Present and Future John Felmy, PhD. Energy Economist

Q&A: Arguing the case for oil exports Economist for petroleum lobby urges end to export ban that followed OPEC embargo By Collin Eaton January 31, 2014 Updated: February 1, 2014 12:14am Photo: Mayra Beltran, Staff "So why not export the expensive stuff and import the cheap stuff?" John Felmy asks.

America exports Oil   The start of the U.S. petroleum industry in 1859 launches many new businesses for producing and transporting the highly prized resource. For the first time America exports oil and kerosene from Philadelphia to London during the Civil War. Soon after Col. Edwin L. Drake drilled America’s first commercial oil well along a creek in northwestern Pennsylvania, entrepreneurs swept in and wooden derricks sprang up in Venango and Crawford counties. It was the nation’s first oil boom.                                                                                                                                                                                      Launched in 1847 by the shipbuilding firm of J. & C.C. Morton of Thomaston, Maine, the Elizabeth Watts was about 96 feet long with a draft of 11 feet. The 224-ton brig made petroleum history during the Civil War

                                                                  Launched in 1847 by the shipbuilding firm of J. & C.C. Morton of Thomaston, Maine, the Elizabeth Watts was about 96 feet long with a draft of 11 feet. The 224-ton brig made petroleum history during the Civil War. Capt. Bryant secured his crew, and the Elizabeth Watts departed the Philadelphia docks on November 19, 1861.

Price Supply Demand Quantity

Price Supply Demand Quantity

John Felmy, Ph.D. felmyj@gmail.com 240-472-0592