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re: US has become world leader in oil exports amid Iran war
Posted on 5/7/26 at 2:37 pm to hubertcumberdale
Posted on 5/7/26 at 2:37 pm to hubertcumberdale
Ok well why did gas prices increase right after Biden got elected in 2020? They were raising the prices like two months before he was sworn in
1
Posted on 5/7/26 at 2:43 pm to Hangover Haven
quote:
The price of gas is just the oil companies jumping on the Iran war to jack up gasoline prices
Gasoline is not that profitable for refineries if at all
Posted on 5/7/26 at 3:00 pm to ATrillionaire
quote:
I don't think supply is an issue. Global prices are driving cost.
It is partially a supply issue with type of "crude oil" much of the new production is technically called condensate. It has to be pre refined in a condensate splitter before being refined. Valero installed these at several of its refineries over a decade ago to take advantage of Eagle Ford production that no refinery actually wanted. An indie condensate splitter was built as a JV of Kinder Morgan/BP in Houston about the same time. It has sat idle after starting up because it wasn't profitable, 45,000 BPD capacity.
It is a lie that refineries were not built for light sweet crude. That is what all refineries outside of CA were built for before the 1980's, actually a light sweet crude unit and a light sour crude unit. CA oil production was heavy and sour, actually heavier than Canadian sent to the US.
I came close to selling a small refinery in OK built for light sweet to Libya right before the Libyan civil war. Its crude source had changed to extra light sweet, aka condensate, which made it lose 30% of capacity and bankrupted it. It was later demolished.
Presently, I have a fully integrated refinery for sale which was deemed to be excessive capacity after Covid shutdown. It has very modern technology. It was built for light sweet crude, with a preflash column in its crude unit. It cannot process this new "crude oil" without installing extra fired heaters thus more energy intensive.
On a side note, sweet crude produces little to no sulfur recovery. A shortage of sulfur is partially the cause of high fertilizer prices.
If all you think about is gasoline, the STFU about refinery prices. You don't know shiite from shinola
Posted on 5/7/26 at 3:03 pm to HarryHoudini
quote:
Ok well why did gas prices increase right after Biden got elected in 2020? They were raising the prices like two months before he was sworn in
ALL oil companies and refineries were losing money out the wazoo during Covid. Companies were all but looking for bathtubs to store oil in so they didn't have to shutdown production and the cost associated with reworking wells at resumption of production.
Posted on 5/7/26 at 3:10 pm to ATrillionaire
quote:
Not sure LA crawfish farmers would agree with you.
They 100% would not. It’s the same thing with American crude oil and refined products.
Posted on 5/7/26 at 3:15 pm to CitizenK
Dude don’t give me the covid excuse come on.
shite was spreading globally at the very start of 2020 and our entire country was shut down for months starting in March, why didn’t the increases happen then or in the summer? They increased the prices right after Biden was elected bc that a-hole campaigned on making their lives harder, so in order to get ahead and make up for losses they increased prices right after he was elected. That was no coincidence. The world was practically back up and running at that point.
That’s like listening to Biden blame covid for the sky rocketing inflation under his watch.
shite was spreading globally at the very start of 2020 and our entire country was shut down for months starting in March, why didn’t the increases happen then or in the summer? They increased the prices right after Biden was elected bc that a-hole campaigned on making their lives harder, so in order to get ahead and make up for losses they increased prices right after he was elected. That was no coincidence. The world was practically back up and running at that point.
That’s like listening to Biden blame covid for the sky rocketing inflation under his watch.
This post was edited on 5/7/26 at 3:24 pm
Posted on 5/7/26 at 3:16 pm to SlidellCajun
quote:
Nice and all but Why are we importing any oil at all?
Because all crude oil is made of different ratios of components that are required to maximize the output from the downstream operating units in a refinery. American refineries have traditionally been made to optimize refining of oils that differ greatly from the crude produced in the shale fields and because of this can only take so much of the oil produced by the recently developed oil fields. The oil planers for refineries are looking to get the proper blend of raw components so that each unit is running as close to 100% capacity as possible.
What the American refineries need simply is not produced in sufficient capacity here in the states.
Posted on 5/7/26 at 3:25 pm to HarryHoudini
quote:
shite was spreading globally at the very start of 2020 and our entire country was shut down for months starting in March, why didn’t the increases happen then or in the summer? They increased the prices right after Biden was elected bc that a-hole campaigned on making their lives harder, so in order to get ahead and make up for losses they increased prices right after he was elected. That was no coincidence. The world was practically back up and running at that point.
who is "they?"
Posted on 5/7/26 at 3:26 pm to hubertcumberdale
Do you not remember gas prices going up once Biden was elected?
Posted on 5/7/26 at 3:27 pm to hubertcumberdale
quote:
who is "they?"
Them.
Posted on 5/7/26 at 3:30 pm to HarryHoudini
quote:
Dude don’t give me the covid excuse come on. shite was spreading globally at the very start of 2020 and our entire country was shut down for months starting in March, why didn’t the increases happen then or in the summer?
First, he referenced COVID for a timeframe not a reason. Second, you’re asking why didn’t gasoline and crude oil prices increase during a historic shutdown of travel domestically and globally? Really? You’re surprised prices didn’t increase during a historically low demand in fuel?
quote:
They increased the prices right after Biden was elected bc that a-hole campaigned on making their lives harder, so in order to get ahead and make up for losses they increased prices right after he was elected.
That’s certainly A way to look at it, or, and follow me, the entire fricking world opened back up. Remember when people were constantly predicting that if Trump lost the election the media, Democrat elected officials, and the American left would start calling for opening up of everything and that actually happened? I remember.
Posted on 5/7/26 at 3:30 pm to HarryHoudini
quote:
Do you not remember gas prices going up once Biden was elected?
yes, it crashed to -$40/bbl in April 2020 then increased (since it was literally negative), who would have thought?
Historical WTI prices
Posted on 5/7/26 at 3:36 pm to HarryHoudini
quote:
our entire country was shut down for months starting in March, why didn’t the increases happen then or in the summer?
Because our country, and others, were as you said “shut down”.
Businesses closed, people worked from home, air traffic slowed to a crawl, so guess what that means? Less need for gasoline/fuel. So gasoline prices dropped down to sub $2 for our national average. Less gasoline needed meant less need oil, and even byproduct plants had less staff on site managing things, further sending the demand for oil crashing. Oil prices went “negative”. I should have drained my swimming pool to store barrels of oil.
Hell…Nevermind all this. You’ve got to be trolling at this point. Good job snagging us easy fish.
Posted on 5/7/26 at 3:49 pm to ragincajun03
Directly from EIA, the US produces a little over 9 million barrels per day of actual crude oil. It also produces a little over 4 million barrels per day of what is actually condensate (over 45 API gravity) The 20 million BPD figure includes ethane, propane and butane fractionated out of wet natural gas. It's NOT oil
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