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Don't Doubt Me: The US is a Net Exporter of Gasoline


RUSH: Here's Sherry in Cordova, Illinois. Great to have you on the EIB Network. Hello.

CALLER: Great to speak with you, Rush. I hope your vacation was joyous and restful.

RUSH: Thank you very much. It was on both counts.

CALLER: Glad to have you back. I need to let you know a little bit about who I am. I'm a Republican and a Tea Party person and I'm just absolutely tickled when the media tries to encapsulate the Tea Party. I just think that's hysterical that they think they need to put us in a compartment or define who we are. I wanted to mention to you that the liberal media tells us how bad we have it. They do this psych job on us telling us that, you know, we're in trouble or we're losing candidates. But, you know, this Hawkeye caucus was the free market at its best. You know, it's how we select the best of the best. And I think it's good for them to have had that caucus but I think the media tries to spin it and there are people -- older people especially, I think -- who believe who four, six, and eight tell 'em. They're kind of gullible in that way. So, "How stupid we are?" I guess is my question. I'm not a Rush Baby, I'm sorry to say, but I'm making up for lost time.

RUSH: Yeah.

CALLER: You know, people will believe what the media tells them. We're gonna get reports in this Election Year that are gonna talk about how improved that the county is, how improved unemployment is, but I use myself as just one sample -- and I know I'm not representative of the whole population, but -- I'm working on paying off credit card debt. I choose store brand substitutes instead of brand names that I would prefer to buy in the story trying to save money. My husband is a business owner, and I get concerned about --

RUSH: Well, see now, as far as the question you're asking you're answering it for most people. They may turn on the news, they will turn on the news and we're even though hear about this robust economic recovery. What's gonna happen is, they're gonna think, "That's great, except it isn't happening to me." The reverse of this is -- and you're right: The media is very powerful still. They can convince people there's a recession when there isn't. They can take perfectly healthy neighborhood or community and make it feel horrible by telling it, "You might be doing well, but I'll tell you: The economy is bad out there," and people feel guilty.

They don't want to be doing well when other people aren't. It's long documented here how the media goes out of its way to convince people that things are bad even when they're good -- and vice-versa. This is definitely going to happen. The unemployment rate's gonna magically reduce. The consumer confidence is gonna go up. All these things are gonna happen. The counterbalance to it is that people's own lives will actually not reflect this, and so people will have the evidence within their own homes, their own communities and neighborhoods to know that what they're hearing isn't true but they'll be tempted because, "Well, good, good! We hope the country comes back.

"If it's coming back for them that we're seeing on TV maybe it will happen to me later." So it is a fact of life. You are Rush Baby. You're just now arriving at this reality. A lot of people have been where you are. It's a frustrating thing, but have faith that there are far more people than you think who are not fooled and tricked by it anymore, not nearly as many as who used to be. The media is still very powerful and they still can shape opinion. It's just much harder for them to do. They can still do it. In this case, it's gonna take a massive amount of lying and a massive amount of prevarication, and it is going to stand in stark contrast to reality. The media's gonna have to be very, very careful how they try it this time around.


RUSH: Snerdley could not believe it, didn't believe it.  Even now after 23-plus years I still am doubted.  Some on the staff still think that I would say something horribly wrong and be mistaken about it, that I'm that careless.  When I said that we are a net exporter of gasoline, it didn't compute.  Snerdley still doesn't believe it.  I'll tell you in a moment why prices are still out the roof, and they are, by the way, and that is not gonna help the Bamster. 

Gasoline is now the top export of the United States.  "Measured in dollars, the United States is on pace this year to ship more gasoline, diesel, and jet fuel than any other single export, according to US Census data going back to 1990. It will also be the first year in more than 60 years that America has been a net exporter of these fuels." First time in more than 60 years, net exporter of gasoline.  You might say, "I thought it was just right after Katrina we had all these shortages?  I thought we didn't have enough refining capacity.  How can this be?"  Two things are happening.  The price has gone up, demand is down.  We are exporting our supply away.  I don't know whether it's on purpose. I'm not even making political statement.  I'm just telling you that in the laws of supply and demand, we are exporting our excess supply, which has an impact on price.  It results in the price not coming down.  But it is a money making thing. 

Fuel exports are worth, in 2011, an estimated $88 billion, and there are two reasons cited, Snerdley, for this.  Crude oil is a lot more expensive now, and the volume of fuel exports is rising.  The US is using less fuel because of a weak economy, more efficient cars and trucks, we're using less and the price is rising, and so we have an excess supply.  We are less mobile.  It's a very unreported thing.  On one hand you could say it's a good thing, okay, we got enough gasoline we can export it.  But on the other hand it's a bad thing.  It indicates a slowdown of economic activity.  Any time you have a reduction in the use of energy, you have a concurrent reduction in economic activity.  The two go hand in hand.  It's a product of Obamaism.  No two ways about it.  



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