Biden to Import Venezuelan Oil to Meet US Demand – President Trump’s Energy Independence Policies Will Continue to be Ignored

[LeftofLeft]

Oil company profit margins have remained the same for decades at 7%.

The US has the highest lift costs in the world and no economies of scale. Most US wells produce fewer than 50 barrels a day.

You want cheap gasoline.. That will put a stop to investment in exploration and drilling.

If the ppb goes too low, they go out of business.

All domestic oil companies go out of business??

 

[surada]

The argument is not about Trump or the absolute absence of importing oil.

We imported more oil during Trump's presidency until 2020 when demand went negative.

 

[surada]

All domestic oil companies go out of business??

Not if the ppb hits the sweet spot. However, during Trump's last year in office over 200 oil companies shut down.

Watch the OPEC price basket. The US tends to be a dollar higher.

 

[Moonglow]

Trade that is unnecessary

you didn't care when it happened during Trump, so..

 

[Toddsterpatriot]

We imported more oil during Trump's presidency until 2020 when demand went negative.

Demand is never negative.

 

[task0778]

I am told Venezuelan oil is very dirty oil that pollutes more than our own.

"Most of Venezuela’s petroleum reserves, as much as 77% or possibly more, are composed of the extra-heavy and heavy crude oil found in the Orinoco Belt in the East Venezuela Basin. That heavy and extra-heavy crude oil, most of which is very sour and has an API gravity of 10 degrees or less, is highly carbon-intensive to extract and refine."

Venezuela’s oil reserves doomed to become the world’s largest stranded asset - Stabroek News

By Matthew Smith for Oilprice.com The aggressive push to decarbonize the world economy is forcing big oil to examine how the carbon emissions of its

www.stabroeknews.com

Why aren't the enviros all upset about this?