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110%er [9089]
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The US and Russian Oil
Mar 4, 2022, 10:48 AM
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I posted yesterday that we're still buying oil from Russia. Biden won't put an end to that - even though even Crazy Nancy says to ban it. I did a little looking on that Google thing I read about on here yesterday (really cool thing - those guys are gonna make millions one day!).
In 2021, we imported an average of 209,000 barrels per day of crude and 500,000 barrels per day of other petrol products from Russia. I'm at work and don't have all day, so I'm just going to look at the crude oil. The average price of crude in 2021 was $71/barrel. At 209,000 barrels per day, we paid Russia over $14 million PER DAY for crude oil. Figuring 261 work days in the year last year, that means we paid Russia nearly $4 BILLION for oil last year alone.
Oil is now around $110/barrel. At 200,000 bpd that we could be buying from them, based upon 2021 numbers, we're CURRENTLY giving Putin over $22 MILLION PER DAY. While the war is supposedly costing Russia over $15 BILLION per day, and $22 MILLION is just a fraction of that, it would tighten the economic chokehold on Russia, and if that's the only way we can choke them, then so be it.
They are one of the countries we import the least from, but it's also been growing. We imported more from them in 2021 than we ever have in one year. It's been pretty steadily increasing for several years.
How would the ban impact US gas prices? Short story - nobody knows. Oil is going up right now, even without a ban. It would certainly continue to go up with a ban, but to what degree, no one knows. If we ban Russian oil, others would do the same and it would have a trickle down economic effect globally.
Prices are going up no matter what. Continued effects of shutting down the entire global economy for COVID, poor leadership, supply chain issues (see COVID), and all the sanctions that so many countries are levying against Russia, all of it is contributing. I don't know about y'all, but if I'm going to pay more, I'm ok with it if I know that it is for a good reason and not just partisan political garbage and the COVID overreaction. If we can't kill Putin, we can at least try to starve him.
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All-In [26968]
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On the surface, it seems like the right thing to do
Mar 4, 2022, 10:51 AM
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to not buy oil from Russia, as it seems like that would be a very powerful punishment to them for this invasion.
However, every day I see people saying they are angry about, or struggling with, gas prices. I paid $40 for a tank in my Corolla for the first time in my life, that I remember, this morning. (God has blessed me, and it's not a big deal to me.) Is this something that is worth making much worse with a ban on Russian oil? I'm sure this is weighing heavily on our leaders.
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All-In [40875]
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slave labor for cheap #### and oil from murderous ########
Mar 4, 2022, 10:53 AM
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is okay if we get cheap stuff
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All-In [26968]
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I don't disagree...the question may be, are we Americans
Mar 4, 2022, 10:56 AM
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willing to make that kind of sacrifice? I'm doubtful. We are an aggrieved people these days.
Are you more likely to hear "I'm willing to pay a little more at the pump if that will help the people of Ukraine," or "THESE GAS PRICES ARE KILLING ME, VOTE EM ALL OUT!"
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110%er [5649]
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Re: I don't disagree...the question may be, are we Americans
Mar 6, 2022, 8:50 AM
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I am willing to pay more for gas to hurt Putin and save Ukranian lives.
I am NOT willing to pay more for gas because dumba$$ democrats elected a dumba$$ POTUS.
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Hall of Famer [23987]
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Hall of Famer [21885]
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a point of emphasis
Mar 4, 2022, 10:54 AM
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Is we and everyone else are still buying Earl in USD.
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Hall of Famer [24695]
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Gaddafi and Hussein say "Yes.".... Oh, that's right...***
Mar 4, 2022, 10:58 AM
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Hall of Famer [22381]
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Why do people buy humongous gas guzzlers to tote one
Mar 4, 2022, 11:03 AM
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### around town?
I get 50 miles per gallon with my Prius.
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Hall of Famer [24695]
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I think it's a matter of lifestyle and occupation... A Prius
Mar 4, 2022, 11:21 AM
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wouldn't cut it for me.
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Hall of Famer [22381]
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As I mentioned in my post, I am referring to the big ones
Mar 4, 2022, 11:25 AM
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with one person driving all over town.
When gas prices fall, people inevitably buy bigger cars and trucks and then when gas prices go up, they whine. Will they never learn?
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110%er [9089]
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I used to be an SUV guy (Jeep) but then switched
Mar 4, 2022, 11:27 AM
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to sedans, like a Ford Fusion, which helped mileage a bit. Looking for my next car to be a hybrid, which will put the mileage up around 40mpg or so. Still not sold on the 100% electric cars, especially for interstate driving and rural mountain driving/vacationing.
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Oculus Spirit [80999]
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I get from 23-27 mpg in my Jeep.
Mar 4, 2022, 11:32 AM
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Diesel 3.0L Gladiator. I've gotten as high as 29 mpg, but normally its around 23-25 for most of the in town driving I do.
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Hall of Famer [22381]
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I have a Prius C, which is the "small" version of the Prius
Mar 4, 2022, 11:33 AM
[ in reply to I used to be an SUV guy (Jeep) but then switched ] |
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with a bit of a sawed off back end. It gets 50mpg. I have however, been able to get 3 human beings(me, wife and son) and 3 golf bags into it. When we pile out at the golf course, it looks like a clown car.
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Lot o points [155706]
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If you're riding in it,
Mar 5, 2022, 10:35 AM
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it's a clown car.
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Hall of Famer [22381]
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It only took you 23 hours to come up with that.
Mar 5, 2022, 7:07 PM
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Comedic genius.
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Hall of Famer [24695]
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I pull all kinds of trailers with my '15 GMC 1500 All-Terrain...
Mar 5, 2022, 8:56 PM
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A dual axle 7000 lb rated 6x12' custom tool trailer, a single axle 4500 lb rated '14 Airstream Sport 22' Bambi, and occasionally a borrowed single axle 3500 lb rated 7x14' utility trailer. My truck is a short bed with the largest Weatherguard tool box available and I added T-rails and an aluminum ladder rack primarily for a 16' 3-seat Mad River canoe and a single seat 14' Native kayak. I can add extra gas, propane, mats, chairs, tables, and my 2 electric bikes in that limited space when camping.
I need EVERY bit of the tow power and EVERY bit of bed space depending on what I'm doing or towing.
The fact that I may be riding alone (or with my G. Shepherd) at certain times is my F'n business and my F'n costs.
YOU DO YOU and I'LL DO ME !!! It ain't none of your F'n business.
Is that F'nny enough for you...?
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All-In [46801]
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That's why the truck is parked and only driven around town
Mar 4, 2022, 12:01 PM
[ in reply to Why do people buy humongous gas guzzlers to tote one ] |
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on Saturday to keep the tires from dry rotting. Rest of the week is the malibu at 24mpg and my wife's work car which we don't pay for
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All-In [40875]
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My bigass truck is very comfortable to drive
Mar 6, 2022, 1:00 PM
[ in reply to Why do people buy humongous gas guzzlers to tote one ] |
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I absolutely love it. I'd rather pay less for gas, but whatever gas cost I'll pay. I'm sure there is a point that I'd buy an electric Truck, but no time soon.
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110%er [9089]
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Russian oil accounts for < 5% of our imports
Mar 4, 2022, 11:05 AM
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I think we can make up the difference between domestic and other imports. The impact at the pump would be in single digit cents. Out of all the factors affecting increased price at the pumps, banning Russian oil would be in the bottom quarter, if that.
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Hall of Famer [23987]
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Re: Russian oil accounts for < 5% of our imports
Mar 4, 2022, 11:07 AM
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They're targeting civilians. We can't do business with people like that - at the least.
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All-In [26968]
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Hall of Famer [23987]
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Re: If it's true, that it would be a single-digit potential
Mar 4, 2022, 11:18 AM
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It's worth what ever it does to us economically
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All-TigerNet [13027]
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Why do we buy from Russia at all??
Mar 4, 2022, 11:53 AM
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Because we have made drilling, extracting, transporting, refining more expensive in the U.S. than anywhere else in the world. Regulations, taxes, and appeasing climate alarmists have forced us to buy from countries, that don’t give two shts about the environment.
We can do it cheaper and cleaner than anyone, but democrat policies are killing the industry stateside. Wait until Dems double the corporate tax rate. Don’t think for a second that they care what you pay for gas.
(Translated from Chinese)
Kid: “great grandpa, what happened to the American dynasty?”
Old man: “Wokeism killed it”
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Associate AD [839]
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Re: Why do we buy from Russia at all??
Mar 6, 2022, 9:12 AM
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That’s mostly wrong. With decent prices, oil in this country is in good shape. The myths you get from the internet and Fox are usually just that: myths.
As for exploration, some companies want to open up more of Alaska, but the remaining potentially large reservoirs are off the south Atlantic coast from NC to Florida. From my recollection, both parties have stopped that every time it comes up over worries about a few tar balls on the beach.
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110%er [7190]
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We don't even need to boycott Russian oil directly
Mar 4, 2022, 11:54 AM
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We could just focus on the tech that keeps the industry running and production will grind to a halt just as quick. I wonder if that's why Lukoil came out against the war yesterday.
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All-TigerNet [12233]
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Joe Manchin is right - Russia has weaponized energy
Mar 4, 2022, 12:28 PM
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and every gallon of oil we buy from Russia is just adding money to the coffers of a war criminal. It is a fact that the USA can produce more oil. However, the Biden regime has shown no interest in working with the energy sector to increase US energy production which is mind boggling considering what is going on.
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Legend [18785]
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I am no Biden fan
Mar 5, 2022, 9:55 AM
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but didn't he just say we would be tapping into US oil reserves?
How many times do we have to say the same things over and over and over before we realize that fossil fuel independence is the way to go?
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All-TigerNet [12233]
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Biden is realeaing 30 million barrels out of the Strategic
Mar 5, 2022, 11:13 AM
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Petroleum Reserve. Considering the US consumes 20 million barrels a day that is approximately 1.5 days of consumption in and of itself. Don't get me wrong - every bit of extra oil helps and kudos to Joe for releasing it but the solution is not going to be found in temporary releases from the Strategic Oil Reserve.
If the Biden gang really wants to reduce oil prices at home, lower inflation, and hurt Putin all at the same time then it can all be done by increasing US energy production. If the Biden regime would work with the energy sector to increase domestic production by 2 to 5 million more barrels a day it would solve a lot of problems. Has Biden ever asked the US energy producers the simple question: "What can my administration do to help you increase domestic energy production?" I've yet to see Biden ask that question much less take actions to help increase US energy production.
Instead, Biden and most of the vocal left are more interested in demonizing the oil industry as planetary reprobates which ain't helping our situation. It boils down to wishful emotional thinking versus reality. Most of us wish we could stop using fossil fuels today and that "green energy" was abundant and effective enough to meet all of our needs. The reality is that we are many years, if not decades, away from green energy being able to replace fossil fuels. The immediate and intermediate need for more fossil fuels is overwhelming and the longer we wait to go after it the more pain the US and the world is going to feel.
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CU Guru [1515]
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Legend [18785]
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I agree with everything you said...
Mar 5, 2022, 7:29 PM
[ in reply to Biden is realeaing 30 million barrels out of the Strategic ] |
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However, I do wish we would step up the research for alternative fuels though. Every dollar we spend on foreign fuel puts $$$ into the pockets of psycho regimes and US oil production is not a long-term solution.
I was an environmental engineer and studied EE in college, fossil fuels are damaging the environment and that's not a leftist bs argument. The data is there, and data don't have a party or idiology.
This is why I love and teach math, it's pretty black and white. You can read the research and you can peer-review with your own research if you don't believe it but "opinions" don't mean ####.
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Associate AD [839]
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Much of this reads like a fairy tale
Mar 5, 2022, 9:05 PM
[ in reply to Biden is realeaing 30 million barrels out of the Strategic ] |
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There is an energy lobbyist in Washington. Maybe more than one. Once in a while they tell Congress and the Executive Branch what they want in order to increase their profits. Maybe it's more than once in a while. Nobody needs to ask what they want because they are always telling you.
The last time prices were this high, the oil companies did everything they could to increase North American production. If they reopen all the shuttered projects, they won't get to 5 million additional barrels/day. That includes the Canadian tar sands.
Now if we stopped exporting oil, that 5 million/day can be met with plenty to spare.
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110%er [7087]
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Re: Much this reads like a fairy tale - Green Energy Lobby
Mar 5, 2022, 11:31 PM
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There is also a large Green Energy Lobby and a bunch of crony 'non-profit' beneficiaries.
Non-profit "Green Energy" advocates (colleges / college professors), Green Energy companies whose existence depends upon Federal grant money, they have a huge political presence (and kick money back to the payment which they receive from Federal Gov't via the lobbying scam that benefits their political sugar daddys.)
Oh yes, the Green Energy myth has been exposed as B.S. Look up Germany's Energie Wende program.
And for 'stopping the export of American oil' ... the USA has been attempting to use the 'threat' of supplying EU countries in case Russia ever acted badly.
Now that Russia is acting badly, the USA has hamstrung itself in the short run from being able to help the EU countries that are addicted to Russian Oil.
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Associate AD [839]
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Off topic
Mar 6, 2022, 8:15 AM
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This was about increasing oil production and the ignorant people who think we can just open a faucet.
Now take your little rant and substitute “nuclear energy” or “clean coal.” It will still be off topic but just as true.
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Legend [18785]
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These are the same people that don't believe global warming
Mar 6, 2022, 9:31 AM
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is even an issue because it doesn't fit their political leanings.
The same people don't believe the pandemic was an issue, masks and vaccines don't work...etc etc etc etc.
It's almost too hard to believe that people could be that stupid until you stumble into a Trump rally, then it all gets much clearer.
https://www.youtube.com/watch?v=7OeeHz0uNdM
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110%er [7087]
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Re: Biden is realeaing 30 million barrels out of the Strategic
Mar 5, 2022, 11:23 PM
[ in reply to Biden is realeaing 30 million barrels out of the Strategic ] |
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Super smart post tabbyplague®.
The way to manage USA energy consumption and energy supply does not come from oscillating back and forth between short term political issues (i.e., going from 'appeasing the green energy crony capitalists and their brain-washed minions by cancelling leases and projects [which adds investment uncertainty to the energy production & transportation industries]' and then going to a 'we need domestic energy / high priced sources of non-Russian oil' as a knee jerk reaction to the RUS-UKR conflict).
A comprehensive and SENSIBLE combination of foreign policy + domestic policy is needed. Unfortunately, Biden Admin's inability or unwillingness to get past their non-business / non-energy educated constituency has put us in this position.
Again, it takes forward thinking and policies, instead of reactionary behavior.
In 2021 and 2022 America, we get the latter.
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Associate AD [839]
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The barrel prices you quote are for texas LSC
Mar 5, 2022, 10:25 AM
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We export most of the light sweet crude and import lower-priced sour crudes. Our refineries can handle the high sulphur better than most and that leads to higher profits.
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