Skip to comments.How Soaring US Oil Exports to China are Transforming the Global Oil Game
Posted on 02/10/2018 10:43:27 AM PST by Oatka
[Reuters] Bit by bit, the U.S. petroleum industry is turning world oil markets inside out.
First, sharp drops in U.S. imports of crude oil eroded the biggest market that producers like OPEC had relied on for many years. Now, surging U.S. exports largely banned by Washington until just two years ago challenge the last region OPEC dominates: Asia.
(Excerpt) Read more at gcaptain.com ...
“Now, surging U.S. exports largely banned by Washington until just two years ago challenge the last region OPEC dominates: Asia.”
Hopefully “climate change” goes the same way as “peak oil” did.
Drill Baby, Drill!
Wouldn’t this increase the royalties land owners receive from the oil companies involved with the gas industry ?
All part of the MAGA plan, and equally if not more important than what gets passed by the clowns in DC.
Now if we can increase our shipments of CNG/LNG and LPG to Asia and take that market from the Russians....
Is this petroleum trade large enough to bring our balance of trade with China back toward equilibrium to any noticeable degree?
If we put a modest export tariff on crude oil, an amount that would still leave the oil at a competitive price, we could start retiring the national debt.
I realize that there may be some economic/geopolitical reason for doing so, and if there is, someone please explain it for me -- but wouldn't it be better for our country (and cheaper for U.S. oil companies) to sell that oil right here at home, hopefully driving down domestic fuel prices? Instead of selling to a country that is not really our friend on the world stage.
Its part of the reason why Mohammad bin Salman in Saudi Arabia had to curb the power of the thousands of princelings in Saudi and also force the to pay back much of their skimmings from the Saudi State.
The Kingdom is going bankrupt.
That’s a very good thing, IMHO
SA has issues with their economy’s dependency on petro revenue, granted.
However, Wall Street and the US government will *not* allow the kingdom to go bankrupt.
Death of the petro-dollar is unfathomable to Wall Street and the US Fed Gov.
Go read Article I, Section 9 of the US Constitution and report back.
Okay....change that to an excise tax.
Oil is already sold at a competitive price. How does adding a tax to the selling price not make it less competitive? Sounds like a typical liberal shell game. Lets add a small tax and earmark the proceeds for debt retirement. Oh yeah and Social Security is in a trust fund.
Actually, that is not required.
You sell to the highest bidder and you buy from the lowest offer. To do anything else is stupid.
In one word, fungible.
Because we can charge more for it. At least in the case of lng.
I read somewhere that China signed a contract for the delivery of large amounts of LNG from the US. I guess they are ready to clean up their air pollution. The LNG should be delivered with certain political conditions attached.
LNG is the preferred fuel of the future, worldwide.