Saudi Arabia Takes Full Control Of Largest Oil Refinery In North America

[radical right]

Doesn't anybody read history? Enron shut down west coast energy generation until prices went up nearly several fold. Enron sold energy generated in California, back to California through Nevada, so they paid three times as much because it came from out of state.

They ran rings around the stupid regulations California imposed on their utility companies.

They went to jail. What they did violated the law, it was fraud.

 

[Toddsterpatriot]

If their refinery is not producing gasoline, how do they benefit from the higher price?

Geeeez. You must have been home schooled.

Home school students do tend to outperform public school students.
Based on your weak understanding of economics, your public school should be ashamed.

Public school kids go to the library and read about history.

Or in your case, smoke in the alley behind the library.

 

[Toddsterpatriot]

Doesn't anybody read history? Enron shut down west coast energy generation until prices went up nearly several fold. Enron sold energy generated in California, back to California through Nevada, so they paid three times as much because it came from out of state.

They ran rings around the stupid regulations California imposed on their utility companies.

They went to jail. What they did violated the law, it was fraud.

Everyone at Enron went to jail? Are you sure?

What they did violated the law

The law against buying up capacity on a transmission line?
You have a copy of that one?

 

[radical right]

I bet none of you heard of Teddy Roosevelt, and his breaking up of vertical monopolies.

Saudi Arabia bought the refinery to give them a market for their oil.

Only morons think they did that in order to shut the refinery down.

To you monopoly is just a board game made by Milton Bradley.

 

[radical right]

They went to jail. What they did violated the law, it was fraud.

Everyone at Enron went to jail? Are you sure?

Not all, Ken Lay had to die to stay out of jail.

 

[Toddsterpatriot]

I bet none of you heard of Teddy Roosevelt, and his breaking up of vertical monopolies.

Saudi Arabia bought the refinery to give them a market for their oil.

Only morons think they did that in order to shut the refinery down.

To you monopoly is just a board game made by Milton Bradley.

Silly to think that a refinery that refines 600,000 barrels a day, vs US capacity of over 18,000,000 barrels a day, would give them a monopoly.

 

[Bassman007]

Oil is currently of little consequence, as there is a World glut and prices are stagnant.

And in other news you r high again aren't you

Saudi Arabia can't control oil prices, but if they control the biggest refinery in North America, they control gasoline prices.

If they raise gas prices, will Tesla suffer.........................Saudi Arabia controls nothing

 

[Toddsterpatriot]

They went to jail. What they did violated the law, it was fraud.

Everyone at Enron went to jail? Are you sure?

Not all, Ken Lay had to die to stay out of jail.

He was sentenced for buying electricity in California?
Or was it something else?

 

[Toro]

What are you stupid. Gas prices are at a low, under $2.50 a gallon. A one month shutdown would result in prices hitting $3.50 or more. That's when they cash in on the shutdown.

Do you remember a company named ENRON?

Enron has nothing to do with your argument.

Doesn't anybody read history? Enron shut down west coast energy generation until prices went up nearly several fold. Enron sold energy generated in California, back to California through Nevada, so they paid three times as much because it came from out of state.

That had nothing to do with the price of gasoline consumers paid at the pump for their cars.

 

[radical right]

Silly to think that a refinery that refines 600,000 barrels a day, vs US capacity of over 18,000,000 barrels a day, would give them a monopoly.

It's like the joke. I don't have to outrun the bear. I only have to outrun you. Cutting production at the largest refinery, can't be made up by refineries 2,000 miles away.

 

[radical right]

Doesn't anybody read history? Enron shut down west coast energy generation until prices went up nearly several fold. Enron sold energy generated in California, back to California through Nevada, so they paid three times as much because it came from out of state.

That had nothing to do with the price of gasoline consumers paid at the pump for their cars.

I gave an example of control of energy causing false shortages, and then taking advantage of the price rise.

 

[Toddsterpatriot]

Silly to think that a refinery that refines 600,000 barrels a day, vs US capacity of over 18,000,000 barrels a day, would give them a monopoly.

It's like the joke. I don't have to outrun the bear. I only have to outrun you. Cutting production at the largest refinery, can't be made up by refineries 2,000 miles away.

What about refineries much closer than that?

 

[Toddsterpatriot]

Doesn't anybody read history? Enron shut down west coast energy generation until prices went up nearly several fold. Enron sold energy generated in California, back to California through Nevada, so they paid three times as much because it came from out of state.

That had nothing to do with the price of gasoline consumers paid at the pump for their cars.

I gave an example of control of energy causing false shortages, and then taking advantage of the price rise.

To be a better comparison, you'd have to claim they bought a power plant, stopped selling electricity from that plant, to benefit from the higher rates.

How much extra profit does a 100MW plant earn when it shuts down?
Does it make more when rates rise 10% or when they rise 20%?

 

[mudwhistle]

With the sale of its interests this May, Royal Dutch Shell made Saudi Arabia the sole owner of the largest refinery of gasoline in North America.

Saudi Arabia now controls the massive Port Arthur Texas refinery and all of its assets.

Saudi Arabia now has the ability to shut down the largest source of gasoline in the US overnight if so commanded by the Royal Family.

The Saudi oil giant ARAMCO now also controls the huge network of Shell gas stations and presumably the prices set at those stations.
This is an interesting conclusion to the story of 911 with its Saudi citizen highjackers and the $3 trillion spent in our efforts to control the international oil markets by attacking Iraq and Afghanistan.

Saudi Arabia now controls the entire supply chain from the ground to the pump and can use this to economic and political advantage as they wish.

We won’t know if this power will be abused for generations but we can be sure they will never sell the Port Arthur refinery back to the Americans.

Saudi Arabia takes full control of the largest oil refinery in North America

Sounds like a socialist plot to destroy our economy.

 

[Toro]

Doesn't anybody read history? Enron shut down west coast energy generation until prices went up nearly several fold. Enron sold energy generated in California, back to California through Nevada, so they paid three times as much because it came from out of state.

That had nothing to do with the price of gasoline consumers paid at the pump for their cars.

I gave an example of control of energy causing false shortages, and then taking advantage of the price rise.

It's not an analogous argument. Electricity is a segmented market. Gasoline is not. Port Arthur accounts for 3% of US consumption, and refined product can be transported to different regions in days.

If Saudi Arabia shut down production, it would benefit everybody else, not them. While the Saudis shut down production, other refineries would see their crack spreads rise. It makes no sense for the Saudis to take refining production offline since the economic rents would accrue to everyone but themselves.

Refining is a shitty commodity product.

 

[radical right]

Cutting production at the largest refinery, can't be made up by refineries 2,000 miles away.

What about refineries much closer than that?

America wastes and throws away enough food to feed the world. But shipping it from where it's made to where it's needed is the whole ballgame. Where is just as important as how much.

 

[Toddsterpatriot]

Cutting production at the largest refinery, can't be made up by refineries 2,000 miles away.

What about refineries much closer than that?

America wastes and throws away enough food to feed the world. But shipping it from where it's made to where it's needed is the whole ballgame. Where is just as important as how much.

If only we had a network of pipelines to transport products across the country.

United States Pipelines map - Crude Oil (petroleum) pipelines - Natural Gas pipelines - Products pipelines