The hottest surge in crude oil production in the U

With the rise of shale oil and gas development, the oil supply in the Gulf of Mexico alone has increased significantly, which also prompted American oil companies to apply for government permission to export American crude oil overseas at the fastest speed ever recorded

according to the data obtained by the financial times, the U.S. government approved 103 licenses to export the United States overseas in the latest fiscal year, which originally entered the Beijing Taiwan Expressway at the entrance of Jinan west interchange and went straight to Cangzhou City oil, an increase of more than 50% compared with 66 licenses in fiscal year 2012, which is also the largest year since records were available in at least 2006

the article points out that more than a dozen of these export licenses last year were applications for exporting oil to Canada. According to the requirements of the two countries, oil companies can buy crude oil produced in the United States as long as it is refined locally in Canada. Since Canada has always been one of the largest oil suppliers to the United States, such export applications were previously considered unlikely

however, after the substantial increase in production in Texas and other places, coupled with the route restrictions of oil tankers transporting oil to American refineries, it has become a profitable business to transport cheap Gulf of Mexico oil to eastern Canada. Louisiana light oil produced in the Gulf of Mexico is currently not a small discount from the global benchmark Brent crude oil

Valero energy, the largest oil refiner in North America, has obtained the license to export 60000 barrels of crude oil per day from Eagle castle, Texas to the company's refinery in Quebec, eastern Canada. Irving petroleum, the owner of the largest refinery in Canada, has been transporting crude oil from the United States by sea and rail: the tanker in the derailment accident that killed 47 people in Quebec in early 2013 was transporting oil to Irving Petroleum's plant in New Brunswick

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