1. www.eia.gov U.S. Energy Information Administration Independent Statistics & Analysis U.S. Petroleum Exports Global Oil: Midstream and Downstream Morgan Stanley Global Commodities Conference December 12, 2012 | Sunny Isles Beach, FL by Adam Sieminski, Administrator

2. U.S. petroleum product exports exceeded imports in 2011 for first time in over six decades Adam Sieminski December 12, 2012 2 Annual U.S. net exports of total petroleum products, 1949 – 2011 million barrels per day Source: EIA, Petroleum Supply Monthly net exporter

3. U.S. exports of petroleum products increase as markets become more globally integrated Adam Sieminski December 12, 2012 3 U.S. petroleum product exports, rolling three-month average thousand barrels per day Source: EIA, Petroleum Supply Monthly other finished petroleum products

4. U.S. distillate fuel exports continue to grow Adam Sieminski December 12, 2012 4 U.S. distillate exports thousand barrels per day Source: EIA, Petroleum Supply Monthly; 2012 data through September

5. U.S. tight oil production leads a growth in domestic production of 2.6 million barrels per day between 2008 and 2019 Adam Sieminski December 12, 2012 5 U.S. crude oil production million barrels per day Source: EIA, Annual Energy Outlook 2013 Early Release Tight oil Alaska Other lower 48 onshore Lower 48 offshore ProjectionsHistory 2011

6. U.S. oil consumption remains below 20 million barrels per day Adam Sieminski December 12, 2012 6 U.S. liquid fuels supply million barrels per day Source: EIA, Annual Energy Outlook 2013 Early Release ProjectionsHistory Natural gas plant liquids Petroleum production Biofuels excluding imports Net petroleum and biofuel imports 17% 7% 37% 38% 5% 45% 38% 12% Liquids from natural gas and coal 1% 2011

7. Light-duty vehicle liquids consumption is lower due to more stringent CAFE standards and consumer choices 7 Light-duty vehicle liquids consumption million barrels per day AEO2012 AEO2013 Source: EIA, Annual Energy Outlook 2013 Early Release Adam Sieminski December 12, 2012

8. U.S. dependence on imported liquids declines in the AEO2013 8 U.S. liquid fuel supply million barrels per day Source: EIA, Annual Energy Outlook 2013 Early Release Consumption Domestic supply Net imports 45% 37% ProjectionsHistory 2011 60% 2005 Adam Sieminski December 12, 2012 2035 37%

9. AEO2012 side cases showed even lower imports, but not self- sufficiency 9 U.S. liquid fuel supply million barrels per day Source: EIA, Annual Energy Outlook 2012 ProjectionsHistory 2010 Consumption Domestic supply Net petroleum imports 49% 36% 60% 2005 15% High TRR/ Vehicle Policy case Net imports, 2005 Net imports, 2035 Adam Sieminski December 12, 2012

10. Exports of U.S. crude oil continue to grow Adam Sieminski December 12, 2012 10 U.S. crude oil exports thousand barrels per day Source: EIA, Petroleum Supply Monthly

11. Adam Sieminski December 12, 2012 11 Currently, crude oil produced in the United States can be exported only when a license is granted by the Bureau of Industry and Security (BIS) at the Department of Commerce. According to the regulations, BIS will approve applications to export crude oil for the following kinds of transactions: Exports to Canada for consumption or use therein Exports from Alaska's Cook Inlet Exports in connection with refining or exchange of Strategic Petroleum Reserve oil Exports of 25,000 barrels per day of California heavy crude oil Exports consistent with findings made by the president under an applicable statute Exports of foreign-origin crude oil that have not been commingled with oil of U.S. origin Other exports reviewed on a case-by-case basis, consistent with the national interest License exceptions are provided for certain types of crude oil exports, including Alaska North Slope crude transported through the Trans- Alaska Pipeline System. Regulations for crude oil export licenses

12. For more information 12 U.S. Energy Information Administration home page | www.eia.govwww.eia.gov Annual Energy Outlook | www.eia.gov/forecasts/aeowww.eia.gov/forecasts/aeo Short-Term Energy Outlook | www.eia.gov/forecasts/steowww.eia.gov/forecasts/steo International Energy Outlook | www.eia.gov/forecasts/ieowww.eia.gov/forecasts/ieo Today In Energy | www.eia.gov/todayinenergywww.eia.gov/todayinenergy Monthly Energy Review | www.eia.gov/totalenergy/data/monthlywww.eia.gov/totalenergy/data/monthly Annual Energy Review | www.eia.gov/totalenergy/data/annualwww.eia.gov/totalenergy/data/annual Adam Sieminski December 12, 2012