2006 Crude Oil Imports From Persian Gulf Highlights:
Released on August 28, 2006
It should be noted that several factors influence the source of a company’s crude oil imports. For example, a company like Motiva, which is partly owned by Saudi Refining Inc., would be expected to import a large percentage from the Persian Gulf, while Citgo Petroleum Corporation, which is owned by the Venezuelan state oil company, would not be expected to import a large percentage from the Persian Gulf, since most of their imports likely come from Venezuela. In addition, other factors that influence a specific company’s sources of crude oil imports would include the characteristics of various crude oils as well as a company’s economic needs. While, in general, crude oil is fungible, i.e., one crude oil can be substituted for another, many refineries are optimized by refining crude oil with specific qualities (e.g., the API gravity, the amount of sulfur in the crude oil, etc.). Also, depending on the global crude oil market condition at the time, the price difference between heavy and light crude oils varies, thus changing the economic dynamics for different refineries. Therefore, many factors determine the source of a company’s crude oil imports.
http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/company_level_imports/current/summary2006.html
The link also provides what percentage of crude that oil companies import from the Persian Gulf. Just thought you might like to know some facts since you continually wear us all out with that same, lame cartoon. Of course, I wouldn’t want the truth to get in the way of Scott Adams’ uninformed cartoon.
...that same, lame cartoon. Of course, I wouldn’t want the truth to get in the way of Scott Adams’ uninformed cartoon.
The smugness, and ignorance, of that cartoon is truly depressing. The whole "fungible" argument seen over and over here on FR, apparently from so many "globally free market" enlightened individuals is absurd. It only represents the myopic, "what I pay", side of the issue; when in fact when oil is pumped from your own land you glean the siphon of profit, or leverage, which ownership results in. And that is true for any amount of oil you pump above that which had been previously. Just the same as any product you make, or idea you generate.
This is the terrible stupidity, or more likely, treachery, of the "globalist" argument. One doesn't just sellout, invoking the pseudo-intellectual "fungible" argument, when one does have the internal resources which can be leveraged.
Unfortunately it does extend beyond simple stupidity. Jay Rockefeller, George Soros, Ted Turner, Dianne Feinstein, Teddy Kennedy, Marc Rich, the CFR, etc., in the position that they are, couldn't care less whether the United States citizen is soldout to others, thus drifting into the world of pure greed or ego (altho I think in GWB's case its just plain stupidity). Henry Ford warned about this very thing.
The illegal immigration thing (amnesty) is an explicit example of this arrogance, and is psycho-politically the same complex as denial to drill. I think likewise AGW. Stupidity, Guilt, or just plain Evil.