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re: EIA: US Crude Exports Reached Record High 1st Half 2023
Posted on 10/11/23 at 11:00 am to Tomatocantender
Posted on 10/11/23 at 11:00 am to Tomatocantender
quote:
The OP article explicitly states the US is a net crude oil importer. I understand your beliefs, but I hope you understand that I'll take the word of a published article
The fact is that the US produces more oil than it uses in a day. That is indisputable.
We will not ever likely get to a point of energy independence though. We’d need more refineries for that and that ain’t happening.
Also, oil is produced by private/public companies and not the government. No one can tell chevron that they can’t sell their US produced oil to Europe, or China, or Japan…
So the whole “energy independence” thing is a misnomer. It means nothing
3
Posted on 10/11/23 at 11:11 am to SlidellCajun
quote:
Also, oil is produced by private/public companies and not the government. No one can tell chevron that they can’t sell their US produced oil to Europe, or China, or Japan…
So the whole “energy independence” thing is a misnomer. It means nothing
Yeah. If we ramp up production in the gulf of Mexico/bordering states it doesn't mean a refinery in Alaska is gonna stop importing crude from Canada that is closer/cheaper
This post was edited on 10/11/23 at 11:15 am
Posted on 10/11/23 at 11:11 am to SlidellCajun
quote:
We will not ever likely get to a point of energy independence though. We’d need more refineries for that and that ain’t happening.
We are a net exporter of refined products which fall into the fuels category, thus energy.
Hawaii will be a crude oil importer as long as any refineries there. It's cheaper to buy sweet crude from the Middle East and Alaskan crude isn't sweet, plus US flagged tankers cost a lot more.
On a side note, Hawaii has right of first refusal on releases from the SPR but US flagged tankers going through the Panama Canal cost way more the tankers/crude from the Middle East.
Posted on 10/11/23 at 11:32 am to SlidellCajun
quote:
So the whole “energy independence” thing is a misnomer. It means nothing
Does it though? Now step out of your box and view oil as a futures commodity traded on the world stage. Think about futures contracts and the types of messages/market signals that drive it. Does shutting down logistical transportation pipelines lay out a positive or negative message?
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