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Started By
Message
re: We sent over 5 million barrels of oil from strategic reserve to Europe and Asia last month
Posted on 7/5/22 at 2:41 pm to fightin tigers
Posted on 7/5/22 at 2:41 pm to fightin tigers
quote:
Because the shale industry wanted to be a world player. Lobbied Obama to make it happen and he allowed it.
What?
1
Posted on 7/5/22 at 2:45 pm to upgrayedd
For many years, maybe decades, moving crude out of the country wasn't allowed. Obama reopened.
Crude now can be sent out of the country.
So P66 bought the oil from the feds sale and moved it out the country. Not sure where, but maybe one of their other refineries. Hell, maybe that is crude that was supposed to be earmarked for the Belle Chase site that they instead sold off.
Crude now can be sent out of the country.
So P66 bought the oil from the feds sale and moved it out the country. Not sure where, but maybe one of their other refineries. Hell, maybe that is crude that was supposed to be earmarked for the Belle Chase site that they instead sold off.
Posted on 7/5/22 at 2:47 pm to fightin tigers
quote:
For many years, maybe decades, moving crude out of the country wasn't allowed. Obama reopened.
Crude now can be sent out of the country.
The strategic reserve is not the same as domestic production, braniac.
Posted on 7/5/22 at 2:48 pm to upgrayedd
quote:
The strategic reserve is not the same as domestic production, braniac.
It is when it is sold
Posted on 7/5/22 at 2:49 pm to fightin tigers
Posted on 7/5/22 at 2:55 pm to OMLandshark
Well we even we were totally energy independent we imported millions of barrels of oil because we exported millions. i know this isn’t popular opinion because so many oil and gas boys work here, I worked for them at one time too mfers, and they couldn’t have been better to me, but that said if China offers more for their product they will ship it all to China. That’s business
Posted on 7/5/22 at 2:55 pm to upgrayedd
quote:
There's no way you're serious about this statement
try living in a country ruled by a king and get back to me.
Contrary to popular belief, the Government is not a bunch of aliens that have come from a distant galaxy to our planet to rule us. We rule ourselves, in that sense, we are the government.
Also, contrary to common belief, government doesn't exist as an opposition to commerce.
We might able to get some control over it if more people were to realize these simple facts.
Posted on 7/5/22 at 2:57 pm to WildTchoupitoulas
quote:
Contrary to popular belief, the Government is not a bunch of aliens that have come from a distant galaxy to our planet to rule us. We rule ourselves, in that sense, we are the government.
Including the Jan 6 protesters?
Posted on 7/5/22 at 2:59 pm to OMLandshark
quote:
The federally-owned oil stocks are stored in huge underground salt caverns at four sites along the coastline of the Gulf of Mexico. The sheer size of the SPR (authorized storage capacity of 714 million barrels) makes it a significant deterrent to oil import cutoffs and a key tool in foreign policy.
Dept. of Energy
This post was edited on 7/5/22 at 3:01 pm
Posted on 7/5/22 at 3:01 pm to Klark Kent
I do know that the Democrats no longer demonize Big Pharma. Funny, that.
Posted on 7/5/22 at 3:02 pm to WildTchoupitoulas
quote:
try living in a country ruled by a king and get back to me.
Contrary to popular belief, the Government is not a bunch of aliens that have come from a distant galaxy to our planet to rule us. We rule ourselves, in that sense, we are the government.
Also, contrary to common belief, government doesn't exist as an opposition to commerce.
We might able to get some control over it if more people were to realize these simple facts.
I'll give credit where it's due. You are an absolute true believer and I suppose that's a noble thing even despite your childish naivete.
Posted on 7/5/22 at 3:02 pm to WildTchoupitoulas
quote:
government doesn't exist as an opposition to commerce.
oof
Posted on 7/5/22 at 3:02 pm to OMLandshark
Trump 2024!
America First!
America First!
Posted on 7/5/22 at 3:04 pm to fightin tigers
quote:
You could maybe dictate where strategic reserves went, but it wouldn't really change anything. Traders would just shift oil from one hand to the other.
Pretty much this. SPR releases oil to a buyer. They don’t force the buyer to use the oil in a specific location.
If they did, it wouldn’t make much difference - the same buyer could just export the same amount of oil sourced directly from producers. Oil isn’t perfectly fungible, but it’s fungible enough that mandating a specific destination won’t really help.
And then, even if they could force that oil to be refined in the US, there’s nothing stopping the refiner or another intermediary from exporting the finished product.
FWIW, I don’t think the removal of export controls on American crude oil was a bad thing. It makes the overall O&G market in the US more efficient by ensuring various grades of oil go to refineries that actually need them. Ultimately this should incentivize US production, though the impact in practice in US light/sweet crude prices has been debatable.
It gets a little weird when you’re talking about releases from the SPR, but I question both the wisdom and practicality of trying to use SPR releases to “stabilize price” in the first place. If that’s truly the goal, it’s kind of a drop in the bucket compared to global supply/demand. A better reason to carefully release oil from the SPR during times of high prices is that it actually helps fund the SPR - buy low, sell high. From that standpoint it doesn’t really matter where the oil goes.
Posted on 7/5/22 at 3:04 pm to WildTchoupitoulas
quote:
Contrary to popular belief, the Government is not a bunch of aliens that have come from a distant galaxy to our planet to rule us. We rule ourselves, in that sense, we are the government.
Also, contrary to common belief, government doesn't exist as an opposition to commerce.
We might able to get some control over it if more people were to realize these simple facts.
Posted on 7/5/22 at 3:05 pm to FredBear
quote:
You on board with reinstating Constitutional protection of our Second Amendment rights?
quote:
Including the Jan 6 protesters?
Why are people so stupid today?
Yes, I support the Constitution continuing to protect our rights under the Second Amendment.
Yes, the January 6 protestors, and even the January 6 rioters, are a part of our governmental system - the US citizens who were protesting and rioting on January 6, anyway. Don't they get to vote?
I mean, who votes for Kings?
Posted on 7/5/22 at 3:11 pm to lostinbr
quote:
FWIW, I don’t think the removal of export controls on American crude oil was a bad thing. It makes the overall O&G market in the US more efficient by ensuring various grades of oil go to refineries that actually need them. Ultimately this should incentivize US production, though the impact in practice in US light/sweet crude prices has been debatable.
I was and still am against the export of oil, this reason is one that wasn't readily obvious, but I think shows we should have constraints.
Seeing refiners balking at expansions and builds just makes my original fear of offshoring refining more of a reality.
Posted on 7/5/22 at 3:14 pm to upgrayedd
quote:
You are an absolute true believer
I am. I'm a patriot who believes in the system set up as an experiment in self-rule.
Americans are spoiled rotten and have no idea what it's like to grow up in a land ruled by a king, or a church or both. In this country, it's cool to hate the government. We can blame all of our ills on the government, but as soon as we assume responsibility for our government, literally how we govern ourselves, we must assume responsibility for all of the ills. And we can't have that now, can we? Isn't it so much easier to blame the government like it's some independent entity over which we have no control?
In this country WE are the government, the government is US. That's kind of the whole fricking point of this country in the first place - SELF-RULE.
Posted on 7/5/22 at 3:17 pm to OMLandshark
This is malfeasance to say the least. We are extremely vulnerable to an energy crisis , whether it result from an attack or natural event.
Posted on 7/5/22 at 3:23 pm to OMLandshark
frick that piece of shite. This is ridiculous.
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