Gold Member BOHICA Posted March 29 Gold Member Share Posted March 29 China peak refined liquids demand set to start declining in 2027 due to electrification which also plays a major role as well in decline profits for refiners https://oilprice.com/Energy/Energy-General/Over-20-of-the-Worlds-Oil-Refining-Capacity-Is-at-Risk-of-Closure.html Quote Link to comment Share on other sites More sharing options...
NaturallyAspirated Posted March 29 Share Posted March 29 I wonder if China, or oil will crash first. They really don't have much time left. Neal Quote Link to comment Share on other sites More sharing options...
Gold Member Kivalo Posted March 29 Gold Member Share Posted March 29 There is zero possibility the pricing structure for oil isn't rife with fraud! A bunch of lying cheats that industry is. Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted March 29 Share Posted March 29 7 hours ago, NaturallyAspirated said: I wonder if China, or oil will crash first. They really don't have much time left. Neal do they still have all those bicycles? Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted March 29 Share Posted March 29 Drill Baby Drill? @Pete You see, the U.S. does produce enough oil to meet its own needs, but it is the wrong type of oil. Crude is graded according to two main metrics, weight and sweetness. The weight of oil defines how easy it is to refine, or break down into its usable component parts, such as gasoline, jet fuel and diesel. Light crude is the easiest to handle, heavy is the most difficult, with intermediate obviously somewhere in between. The sweetness refers to the sulfur content of unrefined oil. The sweeter it is, the less sulfur it contains. Most of the oil produced in the U.S. fields in Texas, Oklahoma, and elsewhere is light and sweet, compared to what comes from the Middle East and Russia. The problem is that for many years, imported oil met most of the U.S.’s energy needs, so a large percentage of the refining capacity here is geared towards dealing with oil that is heavier and less sweet than the kind produced here. A coordinated, forward-looking energy policy over the last few decades would have targeted that issue through subsidies and incentives. That money has been paid out anyway: it wouldn’t have been hard to use it to make America truly energy independent. However, politicians, it seems, would rather keep a situation where periodic energy crises give them a cudgel with which to beat an incumbent. Lest you think I am making a partisan point here, current criticism is of a Democrat by Republicans, but the last time crude was at these levels it was Democrats criticizing George W. Bush, a Republican, for policies and actions that they said forced oil higher back then. So, we are left in a place where the U.S., despite producing more crude than it needs, is dependent on imports. When the country feels it must ban imports from Russia because of an unprovoked attack on an ally, it is forced to go cap in hand to countries such as Saudi Arabia, Venezuela, and Iran to make up the difference. That is not the fault of Joe Biden, Donald Trump, Barack Obama, George W. Bush, or any other individual politician. It is the fault of all of them and of every Congressperson and oil executive who prioritized a partisan lever over reducing America’s dependence on imported oil over the last thirty or forty years. https://www.nasdaq.com/articles/america-produces-enough-oil-to-meet-its-needs-so-why-do-we-import-crude EIA: US crude oil exports hit record high in first-half 2023 US crude oil exports in first-half 2023 averaged 3.99 million b/d, which is a record high for the first half of a year since 2015 when the US lifted its ban on most crude oil exports, according to US EIA data. US crude oil exports in first-half 2023 averaged 3.99 million b/d, which is a record high for the first half of a year since 2015 when the US lifted its ban on most crude oil exports, according to US Energy Information Administration (EIA) data. In first-half 2023, crude oil exports were up 650,000 b/d (+19%) compared with first-half 2022. Europe was the largest regional destination for US crude oil exports by volume, at 1.75 million b/d, led by exports to the Netherlands and the UK. Following closely, Asia accounted for the next-highest volume, receiving 1.68 million b/d, driven by exports to China and South Korea. The US exported smaller volumes of crude oil to Canada, Africa, Central America, and South America. Despite the surge in exports during first-half 2023, the US maintains its status as a net crude oil importer. The US continues to import crude oil despite rising domestic crude oil production in part because many US refineries are configured to process heavy, sour crude oil (with a low API gravity and high sulfur content) rather than the light, sweet crude oil (with a high API gravity and low sulfur content) typically produced in the US. US crude oil imports predominantly originate from historical trading partners such as Mexico and Canada. Heavy, sour crude grades often receive discounts compared to their light, sweet counterparts due to the increased complexity required by refineries to produce profitable refined products like gasoline, diesel, and jet fuel. Consequently, most US crude oil imports occur when it is more economically viable for US refiners to process discounted heavy grades, as these refineries have already invested in the necessary complexity for their refining operations, EIA said. https://www.ogj.com/general-interest/economics-markets/article/14300038/eia-us-crude-oil-exports-hit-record-high-in-first-half-2023 tried keeping this simple for ya, let me know if you learned anything... Quote Link to comment Share on other sites More sharing options...
NaturallyAspirated Posted March 29 Share Posted March 29 2 hours ago, Crnr2Crnr said: do they still have all those bicycles? Bikes and apartments. Neal 1 Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted March 29 Share Posted March 29 38 minutes ago, NaturallyAspirated said: Bikes and apartments. Neal they could more easily readapt to simplicity us... not so much imagine how mad Pete would get if there wasn't gasoline... even at $10 p/gallon? Quote Link to comment Share on other sites More sharing options...
NaturallyAspirated Posted March 29 Share Posted March 29 9 minutes ago, Crnr2Crnr said: they could more easily readapt to simplicity us... not so much imagine how mad Pete would get if there wasn't gasoline... even at $10 p/gallon? There isn’t any of “them” gonna be left. The population will be down like 50% by 2050 or something crazy like that. It’s wild. Neal Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted March 29 Share Posted March 29 Just now, NaturallyAspirated said: There isn’t any of “them” gonna be left. The population will be down like 50% by 2050 or something crazy like that. It’s wild. Neal then who's going to make all the cheap shit for American corporations? Quote Link to comment Share on other sites More sharing options...
NaturallyAspirated Posted March 29 Share Posted March 29 Just now, Crnr2Crnr said: then who's going to make all the cheap shit for American corporations? Thats a good question… Neal Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted March 29 Share Posted March 29 Just now, NaturallyAspirated said: Thats a good question… Neal we'll both be dead by then anyway so... wh0 caReZ!!???!!¡!¿ Quote Link to comment Share on other sites More sharing options...
NaturallyAspirated Posted March 29 Share Posted March 29 1 minute ago, Crnr2Crnr said: we'll both be dead by then anyway so... wh0 caReZ!!???!!¡!¿ No, I’m not that old. China is a problem. Neal Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted March 29 Share Posted March 29 50 minutes ago, NaturallyAspirated said: No, I’m not that old. China is a problem. Neal your on your own son... 1 Quote Link to comment Share on other sites More sharing options...
Rod Posted March 29 Share Posted March 29 1 Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted March 29 Share Posted March 29 10 minutes ago, Rod said: I approve... Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted March 30 Share Posted March 30 @Pete bump... Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted March 31 Share Posted March 31 https://www.nasdaq.com/articles/america-produces-enough-oil-to-meet-its-needs-so-why-do-we-import-crude https://www.ogj.com/general-interest/economics-markets/article/14300038/eia-us-crude-oil-exports-hit-record-high-in-first-half-2023 enlighten us @racer254 & @ViperGTS/Z1 tell us how killing EV's, more drilling and a pipeline to send more oil OUT OF THE COUNTRY WE CAN'T/DON'T REFINE is going to lower gas prices and MAKE AMERICA GREAT AGAIN. Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted March 31 Share Posted March 31 How much petroleum does the United States import and export? In 2023, the United States imported about 8.51 million barrels per day (b/d) of petroleum from 86 countries. Petroleum includes crude oil, hydrocarbon gas liquids (HGLs), refined petroleum products such as gasoline and diesel fuel, and biofuels. Crude oil imports of about 6.48 million b/d accounted for about 76% of U.S. total gross petroleum imports. In 2023, the United States exported about 10.15 million b/d of petroleum to 173 countries and 3 U.S. territories (American Samoa, Puerto Rico, and U.S. Virgin Islands). Crude oil exports of about 4.06 million b/d accounted for 40% of total U.S. gross petroleum exports. The resulting total net petroleum imports (imports minus exports) were about -1.64 million b/d, which means that the United States was a net petroleum exporter of 1.64 million b/d in 2023. The top five source countries of U.S. gross petroleum imports in 2023 were Canada, Mexico, Saudi Arabia, Iraq, and Brazil. Top sources and amounts of U.S. petroleum imports (percentage share of total), respective exports, and net imports, 202 million barrels per day Import sources Gross imports Exports Net imports Total, all countries 8.51 10.15 -1.64 OPEC countries 1.34 (16%) 0.03 1.31 Persian Gulf countries 0.86 (10%) 0.01 0.86 Top five countries1 Canada 4.42 (52%) 0.80 3.62 Mexico 0.91 (11%) 1.17 -0.26 Saudi Arabia 0.44 (5%) 0.00 0.44 Iraq 0.32 (4%) 0.00 0.32 Brazil 0.26 (3%) 0.24 0.02 The top five destination countries of U.S. total petroleum exports by export volume and percentage share of U.S. total petroleum exports in 2023 were: Mexico—1.17 million b/d—11% China—0.98 million b/d—10% The Netherlands—0.86 million b/d—9% Canada—0.80 million b/d—8% Japan—0.62 million b/d—6% https://www.eia.gov/tools/faqs/faq.php?id=727&t=6 Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted March 31 Share Posted March 31 I forgot... Trumptards use alternative facts. Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted March 31 Share Posted March 31 reality bump... Quote Link to comment Share on other sites More sharing options...
Deephaven Posted March 31 Share Posted March 31 10 minutes ago, Crnr2Crnr said: I forgot... Trumptards use alternative facts. You also forgot the quotes around "facts" 1 Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted March 31 Share Posted March 31 Just now, Deephaven said: You also forgot the quotes around "facts" more fun reality~facts... https://www.eia.gov/todayinenergy/detail.php?id=19591 why are so many refineries adjacent to water? Quote Link to comment Share on other sites More sharing options...
Deephaven Posted March 31 Share Posted March 31 The one in ND wishes it was closer to water. So do I. Would mean I would get oil checks again 1 Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted March 31 Share Posted March 31 https://www.visualcapitalist.com/interactive-map-crude-oil-pipelines-and-refineries-of-the-u-s-and-canada/ Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted March 31 Share Posted March 31 1 minute ago, Deephaven said: The one in ND wishes it was closer to water. So do I. Would mean I would get oil checks again BydenZ faULt... Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.