The US still buys 700,000 barrels of fossil fuel per day from PUTIN….WHY?

[kyzr]

We were never energy independent since we as a nation have no national petroleum industry.

Duh.

 

[candycorn]

I am still waiting on some sort of evidence the 700,000 number is not just something he make up so he could start a thread.

I heard on POTUS this morning when I got into my car that we get 10% of our oil from Russia. Not sure what her source was though (Julie Mason Mornings was the program).

 

[kyzr]

I am still waiting on some sort of evidence the 700,000 number is not just something he make up so he could start a thread.

It varies, but its generally between 500,000 and 1m bbls a day of petrol products, not just oil.

How much oil does the US import from Russia?

While Russian oil makes up a small amount of US imports, sanctions could have serious knock-on effects for the economy.

www.aljazeera.com

In 2021, the US imported an average of 209,000 barrels per day (bpd) of crude oil and 500,000 bpd of other petroleum products from Russia, according to the American Fuel and Petrochemical Manufacturers (AFPM) trade association.

 

[candycorn]

I am still waiting on some sort of evidence the 700,000 number is not just something he make up so he could start a thread.

I mean, it would have to be someone who does refining... As far as I know, the US Government doesn't do any refining. I guess we do store crude but why would we buy more crude that we're storing unless we're selling the crude we stored (if that makes sense (I've been up since 2PM yesterday)?

If it is Chevron buying the Russian crude or Exxon or Amoco, or Shell, BP, whomever, consumers can make a decision to not buy their gasoline there. Growing up outside of Pasadena TX, I knew a lot of my friends fathers who worked on refinery row on the ship channel in Houston... They said that a lot of what they make at the refineries is jet fuel ("You can never make too much jet fuel" was something I heard more than once") so it may not be a consumer use (aka gasoline) for which the 700K barrels ends up going toward.

Anyway...if it is a recognizable company that is importing the oil, the market can respond.

Going to sleep. Good day folks!

 

[Harpy Eagle]

It varies, but its generally between 500,000 and 1m bbls a day of petrol products, not just oil.

Historically yes. The claim is that nothing has changed as of today. But that claim is never supported.

 

[kyzr]

Historically yes. The claim is that nothing has changed as of today. But that claim is never supported.

We buy more oil today than last year. US oil production is down, and demand is up. Oil companies don't want to risk capital and have Xiden's "War on Energy" shut them down, like ANWR, the KeystoneXL, and their other leases. It takes time to drill and produce oil and gas, the "green" democrats have no clue.

 

[bendog]

The problem is it would also crush Europe, they are far more dependent on Russian supplies, particularly Natural Gas.

Thank a Green for enabling this situation.

No argument from me that the progressives forced Biden to do stupid shit like kill KeystoneX: and actually encourage US producers to not try and develop new wells. BUt the FACT is that US production is UP over a year ago.

U.S. oil production set to increase further in 2022, energy expert Dan Yergin says

U.S. oil production is back and set to increase in 2022 after more than a year of OPEC and its allies "running the show," said oil expert Daniel Yergin.

www.cnbc.com

The reason oil prices are rising is three fold. 1) OPEC cut production even while global demand rose post pandemic, and US producers aren't looking for another boom and c. buyers are locking in prices for future oil purchases because there's fear ALL countries will ban Russian oil.

"Saudi Arabia, OPEC’s most important member nation, produced 10.8 million barrels of oil per day in 2020, according to the U.S. Energy Information Administration. That’s down from 12.1 million two years earlier.

OPEC’s plan to throttle back its oil wells, and the commitment to that plan, “will likely maintain upward pressure on prices,” said CFRA chief investment strategist Sam Stovall.

In the U.S., oil producers aren’t in a hurry to expand production. Why? For one thing, they don’t want to invest heavily on new wells only to see supply increase, prices decline and their profits dwindle.

This was a major theme of the fracking boom that helped propel the U.S. to become the number one global oil producing nation over the last decade and a half. Many companies went bankrupt as they overextended themselves building out infrastructure, only to see oil and gas prices plummet on greater and greater supply."

Why Is The Price Of Gasoline Rising?

Despite the Federal Reserve's efforts to curb inflation in 2023, Americans will feel the pinch at the gas pump this fall. Brent crude oil prices have risen more than 30% in the past three months and are now trading near $93 per barrel, levels not seen since November 2022. Gasoline prices have fol

www.forbes.com

Buyers are shying away from Russian oil because they fear a global sanction, and Russia exports around 5million barrels a day

Oil prices surge over 7% as global crude reserve release disappoints

Oil prices surged over 7% on Tuesday to their highest since 2014, as a global agreement to release crude reserves failed to calm fears about supply disruptions from Russia's invasion of Ukraine.

www.reuters.com

And Keystone is NOT shut down. The expansion line was shut down (stupidly imo). But we're talking at most 500-800,000 barrels a day. The US alone uses around over 20 million barrels per day and the world uses around 100 million a day.

Insana: Energy prices are soaring, but the Keystone Pipeline wouldnât have helped ease the pressure

It's highly likely that energy prices will remain elevated for some time to come.

www.cnbc.com

What does the release of oil reserves mean for you at the gas pump?

KHOU 11 energy expert Ed Hirs warns the release is only a short-term fix. The pain of filling up at the pump isn’t going away anytime soon.

www.khou.com

US refiners, like all refiners, balance out their "portfolios" of types of crude. I have no idea if KeystoneXL oil would have been comparable to Russianheavy crude. BUT IT IS IRRELEVANT TO THE COST OF GAS WHICH IS TIED TO THE COST OF OIL. And keystone XL's 500-800K per day is not a differnce maker.

But Biden played politics in pulling its permit, and the Media Whore pols are playing politics saying it should open

 

[surada]

Any idea who is actually buying the petroleum? You're saying "the US is buying it...." surely its a company that is buying it....any idea who that company is?

Exxon, Shell and BP have left Russia.

 

[surada]

We buy more oil today than last year. US oil production is down, and demand is up. Oil companies don't want to risk capital and have Xiden's "War on Energy" shut them down, like ANWR, the KeystoneXL, and their other leases. It takes time to drill and produce oil and gas, the "green" democrats have no clue.

One by one, global companies are cutting their ties to Russia

Companies ranging from General Motors to UPS are exiting or reducing their operations in Russia as wide-ranging sanctions make it all but impossible to operate in the country.

www.npr.org

 

[bendog]

One by one, global companies are cutting their ties to Russia

Companies ranging from General Motors to UPS are exiting or reducing their operations in Russia as wide-ranging sanctions make it all but impossible to operate in the country.

www.npr.org

Yeah. The media whores crying about the US buying Russian oil are ignoring American consumers, and their bleating has no effect on pressure on Russia.

 

[surada]

No argument from me that the progressives forced Biden to do stupid shit like kill KeystoneX: and actually encourage US producers to not try and develop new wells. BUt the FACT is that US production is UP over a year ago.

U.S. oil production set to increase further in 2022, energy expert Dan Yergin says

U.S. oil production is back and set to increase in 2022 after more than a year of OPEC and its allies "running the show," said oil expert Daniel Yergin.

www.cnbc.com

The reason oil prices are rising is three fold. 1) OPEC cut production even while global demand rose post pandemic, and US producers aren't looking for another boom and c. buyers are locking in prices for future oil purchases because there's fear ALL countries will ban Russian oil.

"Saudi Arabia, OPEC’s most important member nation, produced 10.8 million barrels of oil per day in 2020, according to the U.S. Energy Information Administration. That’s down from 12.1 million two years earlier.

OPEC’s plan to throttle back its oil wells, and the commitment to that plan, “will likely maintain upward pressure on prices,” said CFRA chief investment strategist Sam Stovall.

In the U.S., oil producers aren’t in a hurry to expand production. Why? For one thing, they don’t want to invest heavily on new wells only to see supply increase, prices decline and their profits dwindle.

This was a major theme of the fracking boom that helped propel the U.S. to become the number one global oil producing nation over the last decade and a half. Many companies went bankrupt as they overextended themselves building out infrastructure, only to see oil and gas prices plummet on greater and greater supply."

Why Is The Price Of Gasoline Rising?

Despite the Federal Reserve's efforts to curb inflation in 2023, Americans will feel the pinch at the gas pump this fall. Brent crude oil prices have risen more than 30% in the past three months and are now trading near $93 per barrel, levels not seen since November 2022. Gasoline prices have fol

www.forbes.com

Buyers are shying away from Russian oil because they fear a global sanction, and Russia exports around 5million barrels a day

Oil prices surge over 7% as global crude reserve release disappoints

Oil prices surged over 7% on Tuesday to their highest since 2014, as a global agreement to release crude reserves failed to calm fears about supply disruptions from Russia's invasion of Ukraine.

www.reuters.com

And Keystone is NOT shut down. The expansion line was shut down (stupidly imo). But we're talking at most 500-800,000 barrels a day. The US alone uses around over 20 million barrels per day and the world uses around 100 million a day.

Insana: Energy prices are soaring, but the Keystone Pipeline wouldnât have helped ease the pressure

It's highly likely that energy prices will remain elevated for some time to come.

www.cnbc.com

What does the release of oil reserves mean for you at the gas pump?

KHOU 11 energy expert Ed Hirs warns the release is only a short-term fix. The pain of filling up at the pump isn’t going away anytime soon.

www.khou.com

US refiners, like all refiners, balance out their "portfolios" of types of crude. I have no idea if KeystoneXL oil would have been comparable to Russianheavy crude. BUT IT IS IRRELEVANT TO THE COST OF GAS WHICH IS TIED TO THE COST OF OIL. And keystone XL's 500-800K per day is not a differnce maker.

But Biden played politics in pulling its permit, and the Media Whore pols are playing politics saying it should open

Keystone doesn't benefit US consumers. It only benefits the Chinese.

 

[surada]

Everybody is getting out of Russia.

 

[22lcidw]

Keystone doesn't benefit US consumers. It only benefits the Chinese.

Making constant excuses when Prog Propagandists told us all they know better for years really means they are inept or beholden to something else. 50 years of Biden and this man has sold out this nation and is a traitor to its citizens. When you see Prog politicians, it is like they are under control of someone or some entity.

 

[surada]

Making constant excuses when Prog Propagandists told us all they know better for years really means they are inept or beholden to something else. 50 years of Biden and this man has sold out this nation and is a traitor to its citizens. When you see Prog politicians, it is like they are under control of someone or some entity.

Keystone XL has been in the works for a decade. it's a tax dodge. Christ, you should know that by now. The Chinese make a profit at the expense of US taxpayers.

 

[bendog]

Keystone XL has been in the works for a decade. it's a tax dodge. Christ, you should know that by now. The Chinese make a profit at the expense of US taxpayers.

The project is largely bs, I agree. But how does it cost US taxpayers? I just find it a talking point for "both sides."

 

[bendog]

Everybody is getting out of Russia.

Everyone who has access to bbc and who can get out of Russia. But sanctioning everyday Russians is all the world can do, and rather than crying in our tea or vodka over what we are doing to them, think of what they're allowing Putin to do.

 

[surada]

The project is largely bs, I agree. But how does it cost US taxpayers? I just find it a talking point for "both sides."

The XL pipeline goes to the free trade zone where the oil is refined and shipped overseas. They pay no US taxes and none of it will be sold in the US. Tarsands are corrosive gunk that sells for $29 a barrel. They don't pump it. The scrape it up with a backhoe.

 

[surada]

No

Everyone who has access to bbc and who can get out of Russia. But sanctioning everyday Russians is all the world can do, and rather than crying in our tea or vodka over what we are doing to them, think of what they're allowing Putin to do.

No, I mean global companies like UPS, Exxon, BP and Shell oil. Putin has really screwed up.

 

[surada]

One by one, global companies are cutting their ties to Russia

Companies ranging from General Motors to UPS are exiting or reducing their operations in Russia as wide-ranging sanctions make it all but impossible to operate in the country.

www.npr.org

 

[bendog]

The XL pipeline goes to the free trade zone where the oil is refined and shipped overseas. They pay no US taxes and none of it will be sold in the US. Tarsands are corrosive gunk that sells for $29 a barrel. They don't pump it. The scrape it up with a backhoe.

OK, but I don't see the cost to the US taxpayers. The XL pipeline also would have carried US oil from the Bakken, btw.

Phase 4 (canceled)[edit]​

The proposed Keystone XL pipeline would start from the same area in Alberta, Canada, as the Phase 1 pipeline.[28] The Canadian section would consist of 526 kilometres (327 mi) of new pipeline.[41] It would enter the United States at Morgan, Montana, and travel through Baker, Montana, where American-produced oil would be added to the pipeline; then it would travel through South Dakota and Nebraska, where it would join the existing Keystone pipelines at Steele City, Nebraska.[8] This phase generated the greatest controversy because of its routing over the Sandhills in Nebraska.[105][106][107]

In 2015, President Barack Obama blocked the project, causing TC Energy to instigate a US $15 billion lawsuit under NAFTA.[108]

Keystone Pipeline - Wikipedia

en.wikipedia.org

But personally, Courts shutting down the already built Dakota Access Pipeline has "my blood boiling." LOL