Oil from U.S. reserves head overseas as gasoline prices stay high

Let's Go Brandon!

America Last.

1 posted on 07/05/2022 3:51:19 PM PDT by TigerClaws

More than 5 million barrels of oil that were part of a historic U.S. emergency oil reserves release aimed at lowering domestic fuel prices were exported to Europe and Asia last month...

Why is this?

2 posted on 07/05/2022 3:54:09 PM PDT by sauropod (Unbelief has nothing to say.)

“More than 5 million barrels of oil that were part of a historic U.S. emergency oil reserves release aimed at lowering domestic fuel prices were exported to Europe and Asia last month..”

THAT’S our current government… screw the citizens; grab that cash!…

3 posted on 07/05/2022 4:00:47 PM PDT by joethedrummer (We can't vote our way out of this, folks..)

To: joethedrummer

Doesn’t matter where it’s headed. A drop in the bucket.

4 posted on 07/05/2022 4:04:07 PM PDT by DIRTYSECRET

Every bit counts these days, the Japanese bought into senile Joes suicide sanctions, guess what?

Vlad (REAL reverse sanctions) is cutting their NG from Sakhalin Island, guess what? They said okay, we will fire up our coal plants. Guess what? They get most their coal from Russia….They are now trying to restart their idled nuke plants, it gets better, guess what? The energy shortage there is projected to shut down 40 percent plus of their manufacturing sector within 60 days…

Lessons for the Ukie war cheerleaders : Supporting brain dead Joe’s Ukie war is destroying the West, ( suicide), do remember Russia is in need of nothing- they have everything the West needs…..

….and Vlad says Checkmate, again, again, and again.

5 posted on 07/05/2022 4:15:18 PM PDT by delta7

To: sauropod; All

Because somebody got paid.

Other countries >> America.

Biden was a low-level bagman for Obama. Every crisis around the world Biden would show up - even had his crackhead son on the plane with him - and do the shakedown game. Hunter was the bagman for Biden. Biden was the bagman for Obama.

6 posted on 07/05/2022 4:15:34 PM PDT by TigerClaws

Buy low, sell high...with someone else’s money.

7 posted on 07/05/2022 4:19:01 PM PDT by READINABLUESTATE (It would be better to live under robber barons than under omnipotent moral busybodies.)

8 posted on 07/05/2022 4:19:35 PM PDT by thouworm ("To anger a conservative, lie to him. To anger a liberal, tell him the truth"---Theodore Roosevelt)

No Big Deal!
Our communist masters know that the Aamerican sheeple will just continue to roll over and spread their collective cheeks...

Bow down!... Obey!... Snitch!...

9 posted on 07/05/2022 4:48:02 PM PDT by SuperLuminal

To some reading the headline, it sounds like a lot

10 posted on 07/05/2022 5:01:06 PM PDT by goodnesswins (....pervert Biden & O Cabal are destroying America, as planned. )

Draining us dry and unable to defend ourselves.

11 posted on 07/05/2022 5:12:47 PM PDT by stars & stripes forever (Blessed the nation who se GOD is the LORD. ~ Psalm 33:12)

"About 1 million barrels per day is being released from the Strategic Petroleum Reserve (SPR) through October. The flow is draining the SPR, which last month fell to the lowest since 1986.

I guess we can look forward to long lines and gas rationing again. Fuel's going to be hard to come by at any price if an emergency refill of the SPR becomes necessary.

12 posted on 07/05/2022 5:27:39 PM PDT by clearcarbon (Fraudulent elections have consequences.)

[Sigh!] The purpose of the strategic petroleum reserve was/is fuel for the US Navy in case of war and isolation from overseas sources.

Duh!

13 posted on 07/05/2022 5:49:17 PM PDT by Srednik (Polyglot. Overeducated. Redeemed by Christ. Anticommunist from the womb.)

in 2015 Obama ended the decades-old ban on exporting US oil. So now when we pump more, or oil is released from the reserve, it is simply all shipped overseas.

14 posted on 07/05/2022 7:00:38 PM PDT by TexasFreeper2009

The data shows that there were 4,082,478,000 barrels of crude oil produced in 2021, an amount that is greater than any time in American history, except 2020 and the peak in 2019.

2017: 3,415,257,000 Barrels of Crude Oil
2018: 3,993,288,000 Barrels of Crude Oil
2019: 4,485,635,000 Barrels of Crude Oil
2020: 4,129,563,000 Barrels of Crude Oil
2021: 4,082,478,000 Barrels of Crude Oil (https://www.wusa9.com/article/news/verify/united-states-produces-more-oil-than-any-other-country-fact-check-russia-impact-on-gas-prices/65-7814c6e2-5437-4201-b021-face477e5462)
Despite this drop from 2019's peak, the levels of production in 2021 were unmatched globally.

"The United States is the number one oil producer in the world," Weiner said. "We produce more oil and gas than any other country in the world."

This was confirmed by the Energy Information Administration. The EIA listed the U.S. as the top producer, with 18.61 million barrels per day, equivalent to 20% of the world supply.

Credit: Energy Information Administration

There was a similar trend, when considering petroleum products as well. In 2021, the U.S. produced 6,052,509,000 barrels of crude oil and petroleum products, which was only surpassed in 2019.

2017: 4,795,959,000 barrels of crude oil + petroleum products
2018: 5,588,101,000 barrels of crude oil + petroleum products
2019: 6,246,598,000 barrels of crude oil + petroleum products
2020: 6,023,457,000 barrels of crude oil + petroleum products
2021: 6,052,509,000 barrels of crude oil + petroleum products

(https://www.wusa9.com/article/news/verify/united-states-produces-more-oil-than-any-other-country-fact-check-russia-impact-on-gas-prices/65-7814c6e2-5437-4201-b021-face477e5462)

- https://tradingeconomics.com/united-states/oil-exports

HOWEVER:

US refining capacity falls to lowest mark in 8 years amid record prices.. The nation's capacity to refine crude oil into fuel and other products fell below 18 million b/d at the beginning of 2022 and hit its lowest level since 2014, according to the federal government's annual refinery capacity report released June 21.... The 2022 projection is the lowest since 17.92 million b/d in 2014, the EIA said. (https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/062122-us-refining-capacity-falls-to-lowest-mark-in-8-years-amid-record-prices-eia)

US Gulf Coast crude oil exports to touch record high this quarter...Exports to Europe are expected to average about 1.4 million (bpd) this quarter, about 30% higher than the year-ago quarter,Tight U.S. refining capacity also boosted exports, Rystad Energy analysts noted. The United States has lost nearly 1 million bpd of refining capacity since 2020..."The 1.53 million bpd of U.S. crude exports to Europe recorded in April is the second-highest reading on record," said Viktor Katona, co-head of crude analysis at Kpler. (https://www.reuters.com/business/energy/us-gulf-coast-crude-oil-exports-touch-record-high-this-quarter-2022-06-27/)

15 posted on 07/06/2022 9:13:47 AM PDT by daniel1212 (Turn to the Lord Jesus as a damned+destitute sinner, trust Him who saves, be baptized + follow Him!)

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