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Getbig Main Boards => Gossip & Opinions => Topic started by: Palumboism on December 11, 2018, 11:19:14 PM
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Forget OPEC — Texas and the rest of America now drive oil markets
Dallas News
In recent days, federal officials released the earth-shattering news that for the first time in 75 years, the United States became a net exporter of oil. In other words, we now ship more of the black gold overseas than we import. The importance of that is we — the United States — now have the upper hand over the oil-autocratic regimes of the world.
The second data point is connected to the first. The United States is now the largest oil producer in the world.
https://www.dallasnews.com/opinion/editorials/2018/12/11/forget-opec-texas-rest-america-now-drive-oil-markets (https://www.dallasnews.com/opinion/editorials/2018/12/11/forget-opec-texas-rest-america-now-drive-oil-markets)
Your move OPEC.
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We should keep all our oil for ourselves.
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President Trump gets the credit...Energy independence.
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We should keep all our oil for ourselves.
Agreed. Keep it all for our own use which completely eliminates the need for us to deal with Muslim countries. We would be completely energy independent for the next 200 years.
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We should keep all our oil for ourselves.
This.
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If we export all this oil we'll run out and be right back dependent on foreign oil.
Same with exporting natural gas.
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President Trump gets the credit...Energy independence.
Preach it, Saint Wiggs!
(http://altoday.com/wp-content/uploads/2016/07/Donald-Trump-thumbs-up-1024x537.png)
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More Winning.
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We should keep all our oil for ourselves.
How would that work?
I'm all for America first and don't mind a slight economic hit but that seems tricky.
Companies can only sell to ourelves?
I kind of like what Alaska does. Every resident gets a small check from oil/gas revenue.
I know privte companies pay taxes/fees to the feds to harvest resources but that money disappears in to uncle sams pocket.
I like a direct cut to citizens in the region being used.
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Wow sounds like the Racist Homophobic Nazi Russian Spy Trump did this to make the USA even more selfish ::)
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I have a nationalist mindset in that I believe we should take care of the homefront first. This is how it has worked throughout history. Now this is a bad thing and considered selfish. We must become "global citizens". This is globalist propaganda bullshit. WE MUST CLEAN AND PROTECT OUR HOUSE! Others can look to us as examples. Obviously not anymore. Its crazy that I have to even defend this natural line of thinking.
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Arabs
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How would that work?
I'm all for America first and don't mind a slight economic hit but that seems tricky.
Companies can only sell to ourelves?
I kind of like what Alaska does. Every resident gets a small check from oil/gas revenue.
I know privte companies pay taxes/fees to the feds to harvest resources but that money disappears in to uncle sams pocket.
I like a direct cut to citizens in the region being used.
Just use the oil ourselves for our cars, industry and energy needs.
No shipping oil out of the country.
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Just use the oil ourselves for our cars, industry and energy needs.
No shipping oil out of the country.
Thats a goal but not an explanation of how to do it.
Are you gonna nationalize oil companies?
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I think a more viable America first approach would be to start giving royalty checks to taxpayers in oil producing regions like Alaska does. The oil lobby is pretty strong, and any republican in the wh not named Trump wouldn't sign it. Definitely not Rubio or Jeb!. Cruz, maybe. Rand, maybe.
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We should keep all our oil for ourselves.
who is we? these aren't federal oil mines, they're multinationals
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The real reason we sell oil outside the US is quite simple- it takes money to stockpile it and you make zero dollars when it is just sitting there. If you have a lot of producing oil wells there becomes nowhere to put it. I am in the tech biz and spent several days in Oklahoma with one of the main players in oil drilling. He taught me so much in that short time I felt totally stupid! He showed me a line of tank cars on a railroad track filled with oil. He said they are sitting there because the producers are finding so much oil it is faster than the market can absorb it.
When you put up an oil rig you need to make money ASAP since your upfront costs are huge. And factoring in poorly performing wells (you never know until you drill), you end up with a lot of expenses. They are paid from oil sales revenues of course. So once you hit a high production well you need to sell everything that comes out of it 24/7/ You don't turn off a valve and wait for customers to come. In fact capping off a well, even temporarily, is outrageously expensive.
With the advent of lateral drilling (that is the reason for the boom in oil production, along with oil shale- not fracking as the moronic media seems to think) more previously unrecoverable oil is now in play. A lot of drillers have struck pay dirt and the market is flooded with crude. So what do you do with it? Sell it of course.
Until 2015, it was illegal to export oil drilled in the USA. This was because a law was signed in 1975 during the oil crisis. The idea was to keep all domestic oil in the USA. So what happened? Oil prices skyrocketed and production actually went down. The reason production went down was because of a preference given to certain oil producers that pushed the small guys out of the market.Typical of anything the US Congress comes up with
So when the ban was lifted, it suddenly became an open market again. Take a drive through west Texas if you want to see a boom going on... And the beneficiary of this is the US consumer.
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Finally no more of those sheik fatcats exploiting the US market. We like our exploitative fatcats to be 100% homegrown in the US of A!
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;D
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Finally no more of those sheik fatcats exploiting the US market. We like our exploitative fatcats to be 100% homegrown in the US of A!
The state and federal governments are the exploitative fat cats, for sure. I live in South Carolina and paid $1.85 today for gas. I was in upstate NY last week and it was 75 cents more. Everyone gives crap to the oil companies but never to the government.
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President Trump gets the credit...Energy independence.
Obama turned over the crude oil export ban in 2015. It had been in place for 40 years. US oil export has been exploding for the last decade.
The reason the export number is so high isn't because of crude exports, but because of gov't subsidized products like ethanol. We export some crude oil, but that is largely because US refineries can't use it as easily. We're still importing way more crude oil than we export and we burn way more oil than we produce.
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Obama turned over the crude oil export ban in 2015. It had been in place for 40 years. US oil export has been exploding for the last decade.
The reason the export number is so high isn't because of crude exports, but because of gov't subsidized products like ethanol. We export some crude oil, but that is largely because US refineries can't use it as easily. We're still importing way more crude oil than we export and we burn way more oil than we produce.
Not exactly true: "The United States exported more oil and fuel than it imported last week for the first time in 75 years, a significant milestone in the resurgence of domestic energy production that comes as the Trump administration pushes to increase energy exports even further."
https://www.nytimes.com/2018/12/06/us/politics/us-oil-exports-trade-deficit.html
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Why are we exporting oil if we are importing oil?
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Yet there are still people who insist that Trump has accomplished anything so far in office.
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Yet there are still people who insist that Trump has accomplished anything so far in office.
you mean hasn't not has, right. or do you want to sub nothing for anything.
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Looks like we should keep more of it to ourselves:
https://finance.yahoo.com/news/saudi-arabia-target-u-sharp-171748629.html (https://finance.yahoo.com/news/saudi-arabia-target-u-sharp-171748629.html)
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you mean hasn't not has, right. or do you want to sub nothing for anything.
His remarks have been noted. This is not the first time. It would be best if you did not involve yourself further, citizen. Have you ever asked yourself what became of the previous 50 funks?
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Why are we exporting oil if we are importing oil?
That's just the way the market works. Some of the contracts could have been written up awhile ago on multi year long term contracts. Also, oil imported from our two largest sources of imported oil, Mexico and Canada, might actually be closer to a refinery than oil bought in America. The market is always looking for the lowest overall cost, so eventually there will be minimal importation.
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His remarks have been noted. This is not the first time. It would be best if you did not involve yourself further, citizen. Have you ever asked yourself what became of the previous 50 funks?
sorry superman. i won't let it happen again.
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;D My work here is done! For now...
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Not exactly true: "The United States exported more oil and fuel than it imported last week for the first time in 75 years, a significant milestone in the resurgence of domestic energy production that comes as the Trump administration pushes to increase energy exports even further."
https://www.nytimes.com/2018/12/06/us/politics/us-oil-exports-trade-deficit.html
What part are you saying isn't true?
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What part are you saying isn't true?
Your statement "We're still importing way more crude oil than we export" is not true based on the NYT article I linked
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Your statement "We're still importing way more crude oil than we export" is not true based on the NYT article I linked
"Oil and fuel" sounds like the energy products I was referring to in my first post.
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Quite amazing considering the number of gas guzzlers on US roads and how frequent many Americans take a plane.....
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U.S. petroleum imports:
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MTTIMUS1&f=M
U.S. petroleum exports:
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MTTEXUS1&f=M
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U.S. petroleum imports:
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MTTIMUS1&f=M
U.S. petroleum exports:
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MTTEXUS1&f=M
I couldn't direct link, but here's a screen cap of the numbers when you filter it to just "crude oil". Import for sep18 was approx 227,000 while import was just 63,000.
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"For one week in November, the U.S. was a net exporter of crude oil and petroleum products"
https://www.eia.gov/todayinenergy/detail.php?id=37772
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J.R. Ewing would be proud.
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J.R. Ewing would be proud.
And much richer.
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Ya. If I hadn't shot him.
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Ya. If I hadn't shot him.
You shot J.R.? I always wondered who it was.
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this is what we should do , keep all of our oil and tell them fucking rag heads if they do not sell us there oil for cheap, the air force and us navy will be paying them a visit very soon.
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this is what we should do , keep all of our oil and tell them fucking rag heads if they do not sell us there oil for cheap, the air force and us navy will be paying them a visit very soon.
So you support unilaterally invading other nations and stealing their resources?
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this is what we should do , keep all of our oil and tell them fucking rag heads if they do not sell us there oil for cheap, the air force and us navy will be paying them a visit very soon.
That would be quite unethical. Why not just use it and sell the excess like we do now?
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So you support unilaterally invading other nations and stealing their resources?
yeah , as long as it keeps my gas cheap plus arabs are muslim scum that should be terminated with extreme predjudice they beat women, and fuck goats.
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sorry superman. i won't let it happen again.
Superman you traitor >:(