And the black cold rush was on. Well talk with industry folks as well as Energy Experts about the history in the oil industry as well as its role today. But before we go south to oklahoma well get your take on the countrys Overall Energy policy this morning. What would you change . Here, overall in the federal government about its Energy Policy . The numbers are on the bottom f your screen. Let me begin with information from the Energy Information agency here in washington on how much energy is consumed in the United States. This is based on 2012 figures. Take a look here of how energy is consumed. What type of energies. You can starts dialing in now. Another chart here. Take a look at sources of u. S. Electricity generation based on 2012 figures. Renewable makes up about 12 of our electricity, nuclear 19 , natural gas 30 , and coal about 37 . And then of course weve all heard the stories about production in the United States. Heres one from reuters that came out the beginning of octob
Export to all around the world . Welcome back. We are live in cushing, oklahoma this morning for todays washington journal. Dubbed thems the pipeline capitol of the world. There are more than 300 storage tanks there that dot the land with the capacity to store oil reaching 80 Million Barrels. We are live from enbridges tank farm in cushing joined by Russell Evans, an Energy Economist at Oklahoma Citys University Business school. Lets begin with the history of cushing in the oil industry. How did it all start . Going all the way back to the start of cushing, were sitting here today in really indian territory. And at the time that the territory was opened for homesteaders, a gentleman William Little established his 160 acre homestead here in the cushing area. And recognized that it was sufficiently far from the nearest city and set aside 80 acres to develop a town. The petition was granted and named after the private assistance of the post master general at the time. And so was the start
Number two, it doesnt matter, this oil is going overseas period. Every ounce of oil that recovered from the ground even in the United States is sold on the market of the world. We produce more oil than anything else. Our number one export is gasoline. Host okay, mr. Pourbaix. Guest carl was braking up there a little bit. Once again, he was referring to the environmental issue of the oilsands and talking about this argument that the oil is for export. Let me say right off the bat. Nothing could be further from the truth. Once again, im all about the facts. Lets talk about the facts. Right now the u. S. Consumes about 15 Million Barrels of oil a day. They are one of the largest consumers of oil on the plan pet planet. They import everyday about 7 or 8 Million Barrels of oil. This pipeline is a pipeline from producing areas in canada and u. S. To refineries in the gulf coast. That is not a pipeline to export terminals. Its a pipeline to refineries. To suggest that these these refineries i