Should US oil cpompanies who sell their oil outside of the US lose their subsidies?

[there4eyeM]

Look at the profit margin. It's been under 7% for decades. You should compare it to profit margins for other industries.

Apparently, you will never understand.

 

[surada]

Apparently, you will never understand.

You want cheap gasoline at any cost. Why don't you start an oil company? You could operate it at a loss for a little while.

 

[there4eyeM]

Look at the profit margin. It's been under 7% for decades. You should compare it to profit margins for other industries.

It doesn't matter what the percent of markup is when the total profit is so incredibly huge. $23 billion dollars net profit just for one of the oil companies is too much political and economic power for the good of democracy. That combined with the strategic dependence upon one energy type leaves a nation extremely vulnerable. What is difficult to understand here?

 

[CowboyTed]

Will all the oil from the Keystone XL pipeline be exported?

2022 coverage: RELATED: Keystone wouldn’t simply offset oil US imports from Russia RELATED: Pence falsely blames Biden’s

www.politifact.com

Hard to explain this...

Oil is a global commodity, the problem is the price... US companies sell there oil at the global price.. There is no friends and family deal on the price of oil...

So while most Oil produced is consumed in US its price is set by global market... If US doesn't pay the price it will be put on a ship and shipped to a place that will pay..

There is no such thing as US Oil, it is Exxon, BP or Shell Oil... And they are just about who's paying the market price... These companies are in no rush in having Oil Prices dropping especially with a supply chain problem which stops people swapping to hybird and electric cars..

I find this bit kind of funny. The guys who are all about 'let the market decide...' 'Don't let the Government interfere the market...', all of sudden don't know how markets work.

Repeat this again, Oil is a Global Market commodity with a Global, the US doesn't own the Oil, Oil is sold on the global market for a global price... Oil prices are generally controlled by a Cartel called OPEC/OPEC+...

Today Saudi has a capacity to increase production tomorrow, 1.2 million barrels a day, that is tomorrow... US is aiming to get this increase over the next 18 months..

 

[surada]

It doesn't matter what the percent of markup is when the total profit is so incredibly huge. $23 billion dollars net profit just for one of the oil companies is too much political and economic power for the good of democracy. That combined with the strategic dependence upon one energy type leaves a nation extremely vulnerable. What is difficult to understand here?

Who do you think owns Big oil?

 

[surada]

We always hear from the right that US oil can lower gas prices, but the truth is that the vast majority of US oil is sold to other countries, because the oil companies can make more money exporting it than selling it domestically.

I think we should stop subsidizing any oil company that does not sell at least 51% of the oil they drill in the US. The American taxpayers shouldn't be forced to subsidize companies that only care about profit and don't care about helping their country.

Google Image Result for https://sites.uci.edu/energyobserver/files/2012/03/who-owns-big-oil.jpg

images.app.goo.gl

 

[there4eyeM]

Who do you think owns Big oil?

People susceptible to being corrupted by their excess power.

 

[there4eyeM]

It doesn't matter what the percent of markup is when the total profit is so incredibly huge. $23 billion dollars net profit just for one of the oil companies is too much political and economic power for the good of democracy. That combined with the strategic dependence upon one energy type leaves a nation extremely vulnerable. What is difficult to understand here?

What is difficult to understand is how this is funny.

 

[surada]

People susceptible to being corrupted by their excess power.

Google Image Result for https://sites.uci.edu/energyobserver/files/2012/03/who-owns-big-oil.jpg

images.app.goo.gl

 

[Nostra]

Road and Train...

Us has a bad history of pipeline spills... The pipeline wis going over a very important Water Basin which feeds to a large amount of crops for US food production

What an Underground Keystone XL Spill Would Mean for Nebraska Groundwater

nebraskapublicmedia.org

Keystone Pipeline Leaks 383,000 Gallons of Oil in North Dakota (Published 2019)

The spill in the northeastern part of the state, which occurred along a different stretch than the controversial XL pipeline addition, coated an estimated half-acre of wetland, officials said.

www.nytimes.com

Severe oil leaks worsened Keystone pipeline’s spill record, GAO finds

The spills came as TC Energy was planning to build the Keystone XL project to expand the amount of crude the pipeline system would carry into the U.S.

www.politico.com

At least with trains and road a crash is covered... We know that these spills will be covered up and lobbyists will make sure they have next to no liability... So they could pollute farmers land with no recourse..
The pipeline operators want the US people to take on that risk so they can make more money with reduced extraction costs, do not believe for one minute the consumer is seeing that benefit...

Pipelines are the safest way to transport oil.

 

[surada]

Pipelines are the safest way to transport oil.

Yes they are, but TransCanada has a very spotty track record. All pipelines are not created equal.

 

[CowboyTed]

They are all in competition with each other. This isn't socialism. They have to make a profit for their stockholders and to stay in business.

The industry has way too much power in Washington...

There aim is to keep America addicted to oil... Europe is moving away and now it is accelerating.

Pipelines are the safest way to transport oil.

Not that clear

Which Is Safer For Transporting Crude Oil: Rail, Truck, Pipeline Or Boat?

News of increased crude oil transportation by rail from Canada has raised this question again. The short answer is: truck worse than train worse than pipeline worse than boat. But it depends on your definition of worse - human deaths, property destruction or environmental impact. You choose.

www.forbes.com

If you are moving over or under a water source should you be using the one that is worst for the environment...

If this is gas, generally I say move it all day by pipeline in high pressure until you get to populated areas...

This is an industry that loves having a number of think tanks pumping out friendly information... It takes a while to cut through...

 

[CowboyTed]

Yes they are, but TransCanada has a very spotty track record. All pipelines are not created equal.

Don't fall for it... Oil loves those reports that feed their narrative

Which Is Safer For Transporting Crude Oil: Rail, Truck, Pipeline Or Boat?

News of increased crude oil transportation by rail from Canada has raised this question again. The short answer is: truck worse than train worse than pipeline worse than boat. But it depends on your definition of worse - human deaths, property destruction or environmental impact. You choose.

www.forbes.com

It is more complex issue...

It works out like, is nuclear perfectly safe... Yes, not one death in 20 years... But when they have one, it is much worst...

 

[Ray From Cleveland]

Yes they are, but TransCanada has a very spotty track record. All pipelines are not created equal.

I would think they've improved throughout the years. Yes, you may get a leak here or there, but nothing monumental. Here is what our country looks like with fuel pipelines revealed.

 

[surada]

I would think they've improved throughout the years. Yes, you may get a leak here or there, but nothing monumental. Here is what our country looks like with fuel pipelines revealed.

View attachment 637506

Yes. Most pipeline companies have improved.

 

[Ray From Cleveland]

Hard to explain this...

Oil is a global commodity, the problem is the price... US companies sell there oil at the global price.. There is no friends and family deal on the price of oil...

So while most Oil produced is consumed in US its price is set by global market... If US doesn't pay the price it will be put on a ship and shipped to a place that will pay..

There is no such thing as US Oil, it is Exxon, BP or Shell Oil... And they are just about who's paying the market price... These companies are in no rush in having Oil Prices dropping especially with a supply chain problem which stops people swapping to hybird and electric cars..

I find this bit kind of funny. The guys who are all about 'let the market decide...' 'Don't let the Government interfere the market...', all of sudden don't know how markets work.

Repeat this again, Oil is a Global Market commodity with a Global, the US doesn't own the Oil, Oil is sold on the global market for a global price... Oil prices are generally controlled by a Cartel called OPEC/OPEC+...

Today Saudi has a capacity to increase production tomorrow, 1.2 million barrels a day, that is tomorrow... US is aiming to get this increase over the next 18 months..

Actually the US has more energy than Saudi Arabia, it's just that we don't use it based on who is running the country. The US doesn't sell oil at a global price, they buy it at a global price. What the oil companies add for profit is another story, and of course all the environmental crap they have to pass on to their consumers. This is not to say they don't compete with each other like any group of companies.

 

[bripat9643]

Not according to my reading, understanding, or what I've seen living in the oil patch.

U.S. crude oil and natural gas production in 2019 hit records with fewer rigs and wells

www.eia.gov

Several of those WIse County wells were on a ranch I owned so I made a point of learning about it.

I just watched a video saying they can drill for a mile horizontally.

 

[bripat9643]

Lol . They've had modern fracking and directional drilling in Arabia for over 60 years.

Wrong.

 

[surada]

Actually the US has more energy than Saudi Arabia, it's just that we don't use it based on who is running the country. The US doesn't sell oil at a global price, they buy it at a global price. What the oil companies add for profit is another story, and of course all the environmental crap they have to pass on to their consumers. This is not to say they don't compete with each other like any group of companies.

US oil is always a dollar more than OPEC. We aren't as strict on environmental regulations as Saudi Arabia.

 

[surada]

Wrong.

Sorry. I grew up in Ghawar and my father was head of oil operations.