The U.S. Is Pumping Oil Faster Than Ever

[initforme]

It was at 724M back in 2009. That’s not relevant to when Biden took office. 638M in Jan of 2021, 609M in nov of 2021, 348M now.

I’m concerned about the Biden release because he drained the reserve by 43%, and said he would replenish at $70, but when $60 came around, he held off and didn’t fill it back up.

Look, as long as the US has enough to keep us afloat, im fine, but we currently use 20M per day, and have the ability to only extract about 4.4M per day from the reserves, which means if there is an oil crisis, we have a big deficit to overcome. 80 days currently is what we can get from pumping 4.4M per day. We need to increase spr capacity, and the ability to extract as much as we need per day to set us up in case there is ever a crisis, or we need an increased production from the spr to offset.

Personally, I’d say build a few more refineries and allow our oil producers to ramp up production so we are not so dependent on foreign oil.

And stop letting slimeball oil companies send it a sy when our people need it. Big oil is untrustworthy at its very core.

 

[ThisIsMe]

When the price of oil drops, then we can refill the reserves.

It would be foolish to do so now.

OPEC Surprise Oil Cut Underscores Biden’s Missed Opportunity To Refill Strategic Reserves

Exasperated at Biden, and flexing market share muscle, OPEC announces surprise cuts of 1.66 million barrels per day.

www.forbes.com

It went down to $60 and there was no movement to buy to refill it

 

[22lcidw]

We don't buy much from OPEC. Most US imports come Venezuela, Mexico and Canada. Of course Trump placed sanctions on Venezuela so we started buying a lot more oil from Russia.

Keystone XL would benefit Chinese owners of Canadian tarsands. The tarsands would be refined in the Free Trade Zone for export only. There's no benefit to US consumers or taxpayers.

The whole thing is a boondoggle including the lies about thousands of jobs.

We are a rich nation, and we give ourselves the top-quality oil.

 

[ThisIsMe]

If the price stays high we probably will have more production and new refineries.

US oil production costs are the highest in the world.

Why is it that we have the highest production costs?

 

[Care4all]

When the price of oil drops, then we can refill the reserves.

It would be foolish to do so now.

They refilled some, in December.... A few million barrels...

 

[surada]

Except for the jobs at the pipeline end and maintenance jobs, huh?

Derp!

Pipeline construction crews move from location to location and that's temporary. These days flow and pressure are monitored in real time by computers from a central location.

Saudi Aramco monitors every pipeline in the country from Dhahran. They even drill in real time hundreds of miles away.

 

[surada]

Why is it that we have the highest production costs?

We have no economies of scale and most US wells produce less than 50 barrels a day. Crude oil has to be pumped. Notice we still use rocker pumps instead of Christmas trees and crude has to be handled multiple times between the well head and refinery.

 

[j-mac]

Drill, baby, drill!

The U.S. is pumping oil faster than ever. Republicans don’t care.​

​

The GOP narrative has a major hole: U.S. oil production — already the highest in the world — is on track to set a new record this year, and will probably rise even more in 2024. But the ever-increasing flow of U.S. crude has failed to keep a lid on gasoline prices, showing once again that a global market drives the fuel prices that shape presidents’ political futures.

And that means events far beyond the nation’s borders will play a sizable role in voters’ verdict on “Bidenomics” — as global oil prices rise and fall in response to banking conditions in Europe, China’s slumping real estate market, Vladimir Putin’s war in Ukraine and the latest maneuvers by Saudi Arabia.

[snip]

U.S. oil production is forecast to average an all-time high of 12.8 million barrels a day this year and keep growing to 13.1 million in 2024, the federal Energy Information Administration said in its latest forecast.




This reality has not stopped dishonest Republicans from lying:


In one campaign ad, former Vice President Mike Pence pretends to fill his pickup truck and blames Biden’s energy policy for “causing real hardship” for Americans, while ex-South Carolina Gov. Nikki Haley has vowed to bring oil production back to the United States.

And Sen. Tim Scott (R.-S.C.) railed last month on the Biden administration, which he asserted “has shut down energy production in America.”

“Why won’t this President tap into our abundant energy resources here at home and bring down prices at the pump?” he asked.

In fact, though, oil production from federal lands and waters has risen on Biden’s watch, reaching past 3 million barrels per day last year. The high mark during President Donald Trump’s term was 2.75 million barrels a day.

I see another leftie outlet continues to carry water, and lie for their masters…

 

[ThisIsMe]

We have no economies of scale and most US wells produce less than 50 barrels a day. Crude oil has to be pumped. Notice we still use rocker pumps instead of Christmas trees and crude has to be handled multiple times between the well head and refinery.

Ok, so, why is it we are using outdated technology? Why wouldn’t we be using the best equipment for the job?

 

[ThisIsMe]

We have no economies of scale and most US wells produce less than 50 barrels a day. Crude oil has to be pumped. Notice we still use rocker pumps instead of Christmas trees and crude has to be handled multiple times between the well head and refinery.

Well, the rocker pumps are what pull the oil out of the ground. You would only use a Christmas tree if the well had natural pressure behind it, but eventually, if that pressure ever dissipates, a rocker pump would have to be installed to help lift the product

Also, it has to be handled a couple of times because we don’t have the infrastructure to avoid it. Pipelines solve that problem.

 

[justoffal]

Bullshit....
There is no hole in the GOP narrative. The hole is in the pocket of the American consumer and it has been placed there by a greedy and dishonest federal government. Record oil production here could easily be translated into lower gas prices for The US....but instead it is allowed to be commoditized for Maximum profit shared by oil company execs and their favorite elected pickpockets in DC.
It's really just that simple.

Jo

 

[justoffal]

Ok, so, why is it we are using outdated technology? Why wouldn’t we be using the best equipment for the job?

Corporate bottom lines.

 

[justoffal]

Well, the rocker pumps are what pull the oil out of the ground. You would only use a Christmas tree if the well had natural pressure behind it, but eventually, if that pressure ever dissipates, a rocker pump would have to be installed to help lift the product

Also, it has to be handled a couple of times because we don’t have the infrastructure to avoid it. Pipelines solve that problem.

Which is exactly why the current corporate wussed administration is against pipelines. Inflated costs along the supply chain are all subject to administrational pilferage.

 

[ThisIsMe]

Corporate bottom lines.

I don’t think that’s it. Most oil companies are technology companies, they are continually looking for new and better ways to do things.

I think pumpjacks are used the world over and US regulation prevents the pipelines necessary to transport crude more efficiently.

 

[justoffal]

I don’t think that’s it. Most oil companies are technology companies, they are continually looking for new and better ways to do things.

I think pumpjacks are used the world over and US regulation prevents the pipelines necessary to transport crude more efficiently.

Maybe....but in my experience with big corporations...and I do have that....the most obvious goddamned needs of common sense are often abandoned due to bottom line/exec bonus structure. Seen it a hundred times at least.

 

[elektra]

False assumption. 30 countries joined the US in releasing oil reserves.

U.S. and 30 Countries Commit to Release 60 Million Barrels of Oil From Strategic Reserves to Stabilize Global Energy Markets

Today, U.S. Secretary of Energy Jennifer M. Granholm released this statement following an emergency meeting of the International Energy Agency (IEA) member countries in response to Russia’s invasion of Ukraine.

www.energy.gov

A false assumption is linking to a story that states, "they will". How about a story that shows they did release their strategic oil reserves.

A breakdown of how much by country is what you should be posting. Not an article that is old saying nothing more than they will.

 

[AzogtheDefiler]

Not according to the electric and fuel and grocery bills.

Yeah some of those are much higher

 

[BlindBoo]

Yeah and we export like 9 million bbl per day.

The fact is, the US CAN be energy independent if they would allow more drilling on federal lands.

You know when we subtract the exports from the imports, when we get a negative number, that means we were energy independent over that period of time. For example our net imports for the week ending Aug. 18th it was -1.5. Furthermore, we have been energy independent for most of 2023.

U.S. Imports & Exports

Weekly U.S. Net Imports of Crude Oil and Petroleum Products (Thousand Barrels per Day)

 

[justoffal]

A false assumption is linking to a story that states, "they will". How about a story that shows they did release their strategic oil reserves.

A breakdown of how much by country is what you should be posting. Not an article that is old saying nothing more than they will.

Glad you brought that up....I fall for it all the time until I look closer and realize that 90 percent of those statements are nothing more than unrealized good intentions and mean bupkis....

 

[BlindBoo]

Where are they pumping it all to?

1. Canada.
2. China.
3. Russia.

Texas. Not really. Texas gets a lot of heavy crude imported to refine and ships a lot of light Texas crude to the East Coast for refining.

No, the US can sell oil if they desire, just produce enough of our own so that we don’t have to import, or at least not import as much, and when opec decides to cut production, we can just increase our own production to offset. Unless there is some kind of law that says we can’t use our own oil to keep prices low in our country….

Most of the US oil is produced on private lands and we haven't produced enough to meet domestic demand for over a half a century. They did once upon a time outlaw exporting most crude oil. That led to record breaking imports until the two sides compromised and started allowed exports.