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1   DASKAA   ignore (3)   2018 Apr 20, 12:09pm   ↑ like (1)   ↓ dislike (0)   quote        

It's a signal to SA to start pumping.
2   TrumpingTits   ignore (0)   2018 Apr 20, 12:56pm   ↑ like (2)   ↓ dislike (0)   quote        

California needs to figure out something to do when it come to oil supply. It is the only state in the Lower 48 that imports the majority of its oil...and a lot of it from the Mideast.

Everyone else is getting their oil from the shale guys or gasoline refined from it. But California won't allow new oil pipelines and insists upon having its own boutique gasoline blend. And it won't allow drilling.

So when the Mid-East blows up when Saudi Arabia and Iran start duking it out openly and the oil supply contracts since the tankers won't be going in to the PG, California will be in big trouble right alongside China, Japan, South Korea, and Hawaii. The US Navy is no longer protecting shipping into/out of the PG nor would the rest of the country tolerate going to war just to secure California's oil supply when California could have at least allowed for more drilling, like in the Monterrey Shale Basin (no, that isn't in the middle of Monterrey Bay).

America's retrenchment from old Cold War 'responsibilities' isn't a sign of decline, but of more power, actually. We produce more oil than Saudi Arabia and Russia combined now. We even shipped oil to the UAE and Saudi Arabia bought our oil and shipped it to China! And we no longer have to/nor willing to prop up the rest of the world's oil supply like we did in getting involved in the first Iraq or even second Iraq war.

So, we can just button up (return oil export controls) when things go bad and produce all the oil we need -- except for California, because of California's own decisions. Hawaii takes oil from tankers but could be supplied by American oil, if it isn't already. California consumes too much relative to Hawaii and so would suffer $6/gallon gas while the rest of the country would be paying only $3/gal.

3   rando   ignore (0)   2018 Apr 20, 1:58pm   ↑ like (0)   ↓ dislike (0)   quote        

WarrenTheApe says
We produce more oil than Saudi Arabia and Russia combined now.


Wow, I did not know that. Easy to confirm that the US is now producing more than Saudi, but I'm not sure about more than Saudi and Russia combined.

The Saudis still have a huge cost advantage though, since their oil is so close to the surface:



High oil prices actually benefit US producers by encouraging domestic production, making us more independent of the terror-sponsoring Gulf states. It also encourages more solar/electric development. So I'm not sure Trump should be calling for lower oil prices.
4   bob2356   ignore (1)   2018 Apr 20, 3:41pm   ↑ like (0)   ↓ dislike (0)   quote        

someone else says

Wow, I did not know that. Easy to confirm that the US is now producing more than Saudi, but I'm not sure about more than Saudi and Russia combined.


The US consumes 19.88 bpd and just passed 10 million bpd production for the first time since 1970. Buttoning up is not an option. Saudi's produce 11.6.
5   HEYYOU   ignore (16)   2018 Apr 20, 4:15pm   ↑ like (0)   ↓ dislike (0)   quote        

Every gallon of gas one buys has a Republican Federal Gasoline Excise Tax.
Why do all hard working Republicans agree to be taxed by their elected officials.
Freezing gas prices @ $0.25/gal. would MAGA now. Why do they hate America?
Have they forgotten they are in charge?
6   TrumpingTits   ignore (0)   2018 Apr 20, 5:55pm   ↑ like (1)   ↓ dislike (0)   quote        

someone else says
The Saudis still have a huge cost advantage though, since their oil is so close to the surface:


As of this year. Dramatic gains since 2016. Also, we will be a net exporter to the world by 2020 now (earlier than 2023 which was last year's projection).

someone else says
High oil prices actually benefit US producers by encouraging domestic production, making us more independent of the terror-sponsoring Gulf states


That's right. Shale oil is having a HUGE geopolitical earthquake effect, greater than its economic one really.

So, looking back at the 2008 VP debate Palin is vindicated while Biden is looking like a complete fool now for lambasting 'drill, baby drill!'

7   Booger   ignore (1)   2018 Apr 20, 6:17pm   ↑ like (0)   ↓ dislike (0)   quote        

someone else says
High oil prices actually benefit US producers by encouraging domestic production, making us more independent of the terror-sponsoring Gulf states. It also encourages more solar/electric development.


We don't generate electricity from oil any more, and haven't for decades. The ~1% of our electricity that we do generate from oil is waste oil (like when you change the oil in your car), and those plants mostly only run when everyone has their air conditioning on.
8   TrumpingTits   ignore (0)   2018 Apr 21, 2:39pm   ↑ like (0)   ↓ dislike (0)   quote        

Booger says
We don't generate electricity from oil any more, and haven't for decades. The ~1% of our electricity that we do generate from oil is waste oil (like when you change the oil in your car), and those plants mostly only run when everyone has their air conditioning on.


True. We have more natural gas turbine plants. And just about everyone of them built in the last ten years are combined-cycle ones that can get 60% effective Carnot efficiencies.
AND for every utility solar farm put online, a back up plant (again, nat gas turbine) has to get built as that electricity supply must be reliable day and night.

And where do we get out natural gas? The frackers, that's who. In fact, many of them dump it w/o charge into pipelines to get rid of it. That is why nat gas in America is so cheap and even cheap enough on a production-cost basis that it is economical now to ship it out in LNG form to Europe, which reduces European dependency on the Russian pipelines. And this isn't going to change...particularly with more shale oil production driven by higher prices also producing way more nat gas in the process.




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