drill baby drill?

[Crnr2Crnr]

The Top 10 States by Real GDP Growth in 2023

Fueled by strong consumer spending and a resilient job market, the U.S. economy expanded faster than expected in 2023, with a real GDP growth rate of 2.5%.

Oil-rich states were among the strongest performers in the country as production boomed. Much of this was due to the war in Ukraine driving up the price of oil, spurring companies to boost output. Other sectors, such as retail trade, also played a key role in driving growth amid robust consumer demand.

As the world’s largest oil producer, the U.S. hit a historic 12.9 million barrels per day in crude oil production in 2023—more than any other country ever.

Given these tailwinds, the top five fastest-growing states by real GDP in 2023 were all powered by the mining, quarrying, and oil and gas extraction sector. Below, we show the strongest state economies by real GDP growth last year:

https://www.visualcapitalist.com/top-10-states-by-real-gdp-growth-in-2023/

one would think gasoline would be practically free with all that oil getting pumped out of the ground?  

[Stephen Hawking]

 

[Jerry 976]

[hayward]

but the left had claimed this practice was bad for the environment.....weird....you telling me they really didn't mean it?

[Crnr2Crnr]

3 hours ago, hayward said:

but the left had claimed this practice was bad for the environment.....weird....you telling me they really didn't mean it?

I'm not telling you anything... but it seems to me based upon data and facts we're awash with oil already, to export.

 

btw, drill baby drill is nothing more than a dog whistle for uneducated morons... so basically Trumpers. 

thought you should know 

Edited April 13 by Crnr2Crnr

[Crnr2Crnr]

export baby export 

 

For First Time, Oil Likely To Be Top U.S. Export In 2023

For the first time in 50 years and perhaps ever, the primary oil category will be the United States’ top export when 2023 figures are released early next year.

https://www.forbes.com/sites/kenroberts/2023/10/15/for-first-time-oil-likely-to-be-top-us-export-in-2023/

 

not that we just export it, it was our #1export... not corn or wheat, not goods and services.. OIL 

 

[1jkw]

Biden is losing his war on oil.

[Crnr2Crnr]

Top 5 U.S. Exports

As the second-largest exporter in the world—outranked only by China—total U.S. exports for 2023 climbed to $3.1 trillion, a new record, up $35.0 billion from 2022, according to Census Bureau data. According to data through December 2023, the following are the United States’ top exports by value:

#1 Oil

#2 Civilian Aircraft Parts

#3 Gasoline and Other Fuels

#4 Liquified Natural Gas (LNG) and Other Petroleum Gases

#5 Passenger Vehicles

https://www.shippingsolutions.com/blog/top-us-exports

 

drill baby drill... 

 

[Crnr2Crnr]

America Produces Enough Oil to Meet Its Needs, So Why Do We Import Crude?

NBC News is reporting that the U.S. intends to ban imports of Russian oil today. That has caused another jump in already surging oil prices, but for many Americans the most surprising thing about this is that America imports Russian oil at all, let alone so much that it accounts for around eight percent of total U.S. oil usage. I mean, haven’t we been told repeatedly over the last five years or so how great it is that the U.S. has become energy independent?

Well, yes, we have. But that statement, while true in some ways, covers up several decades of short-sighted energy policies.

The U.S does indeed produce enough oil to meet its own needs. According to the U.S. Energy Information Administration (EIA), in 2020 America produced 18.4 million barrels of oil per day and consumed 18.12 million. And yet that same report reveals that the U.S. imported 7.86 million barrels of oil per day last year.

That happens because of a combination of economics and chemistry. The economics are simple: overseas oil, even after shipping costs, is often cheaper than domestically-produced crude. That is because what oil people call "lifting costs," the cost of actually getting the oil out of the ground, are so much lower in some other countries. That, in turn, is down to a number of factors. Environmental and other regulations here play a part in that cost differential of course, but, contrary to what some would have you believe, they are far from the be-all and end-all in affecting prices.

Land and lease prices are a big factor, as are labor and other costs. Then there is the fact that so many countries, and Russia is definitely one of them, that see oil exports as an important strategic and geopolitical tool. In those cases, these nations give concessions to ensure that their oil is sold at an advantageous price. Right now, Vladimir Putin is being accused of weaponizing energy supply, but it is something that he and other dictators and human rights abusers have been doing for years to make client nations, including the U.S., ignore who they are and what they do.

Still, the U.S. probably wouldn’t be one of those client nations at all if it weren’t for the chemistry.

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

import baby import  

[hayward]

Talked to a trucker this week.  There is still wheat from Poland coming into Albany and being trucked down here to Ardent Mills.  It's been going on since last fall, and will continue until the fall of 2025. 

to that shit.  This kinda shit has to stop.

[Crnr2Crnr]

13 hours ago, hayward said:

Talked to a trucker this week.  There is still wheat from Poland coming into Albany and being trucked down here to Ardent Mills.  It's been going on since last fall, and will continue until the fall of 2025. 

to that shit.  This kinda shit has to stop.

whut? 

just filled all three of our vehicles up at Kwik Trip for $3.03 per gallon with the $.020 rewards discount.  

then saw this when I got home... 

Markets brace for oil to hit $100 as Saudi slashes production

https://www.telegraph.co.uk/business/2024/04/13/markets-brace-for-oil-hit-100-saudi-slashes-production/

plus there's a bit of a kerfuffle going on in the middle east at the moment.  

IMPORT Baby IMPORT 

[Crnr2Crnr]

@Pete

@Pete

@Pete

@Pete

@Pete

@Pete

see all posts thus far above this...

 

[ActionfigureJoe]

On 4/13/2024 at 3:29 PM, Crnr2Crnr said:

export baby export 

 

For First Time, Oil Likely To Be Top U.S. Export In 2023

For the first time in 50 years and perhaps ever, the primary oil category will be the United States’ top export when 2023 figures are released early next year.

https://www.forbes.com/sites/kenroberts/2023/10/15/for-first-time-oil-likely-to-be-top-us-export-in-2023/

 

not that we just export it, it was our #1export... not corn or wheat, not goods and services.. OIL 

 

Biden is fucking killing it!!

[Crnr2Crnr]

4 minutes ago, ActionfigureJoe said:

Biden is fucking killing it!!

 

 

 

[ActionfigureJoe]

3 hours ago, Crnr2Crnr said:

whut? 

just filled all three of our vehicles up at Kwik Trip for $3.03 per gallon with the $.020 rewards discount.  

then saw this when I got home... 

Markets brace for oil to hit $100 as Saudi slashes production

https://www.telegraph.co.uk/business/2024/04/13/markets-brace-for-oil-hit-100-saudi-slashes-production/

plus there's a bit of a kerfuffle going on in the middle east at the moment.  

IMPORT Baby IMPORT 

Oil markets are softening in all developed countries. The Saudis are responding. Oil deliveries are down. 

[1jkw]

28 minutes ago, ActionfigureJoe said:

Oil markets are softening in all developed countries. The Saudis are responding. Oil deliveries are down. 

It's because of Biden's war on oil, DAMN IT!

[Crnr2Crnr]

On 4/14/2024 at 12:23 PM, Crnr2Crnr said:

 

just filled all three of our vehicles up at Kwik Trip for $3.03 per gallon with the $.020 rewards discount.  

IMPORT Baby IMPORT 

same exact gas station today... +$0.22 per gallon more than yesterday 

 

 

[Crnr2Crnr]

@racer254 & @Pete love...