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Title: oil industry

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Subject: Business
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Date: July 6, 2000
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Length: 5 / 1388
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The 1980s tax caused U.S. production to decrease and rely more heavily on foreign oil. There has been a high demand for imported gasoline because of the specifications for environmentally acceptable fuel in the U.S. "Demand for imported gasoline now exceeds one million barrels per day...

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The crude oil inventories at U.S. and gasoline are low. Domestic crude production is operating at its maximum, and the US will have to import crude oil. This drives gasoline prices to rise. There is a shortage of smaller, cleaner tanks which gasoline cargoes are transported causing higher tank rates which is passed on to the pumps...

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