Skip to comments.The U.S. confirms its status as a petro-superpower
Posted on 11/30/2019 6:41:37 PM PST by cba123
New data and projections confirm the emergence of the U.S. as a net exporter of crude oil and liquid petroleum products (gasoline, diesel and and more) combined.
Why it matters: The inflection point underscores the growth of the U.S. as a petro-superpower, although we still import millions of barrels of crude oil per day and production growth is slowing.
(Excerpt) Read more at google.com ...
The Trump effect!
F U OPEC!!!
Which means if we halted our exports, we could crush economies overnight. Are you listening China?
The Smartest man in the World(Obama) said that could never happen
It blows me away that all the "Hubbard's Peak" and "Peak Oil" and "we're running out of oil" stories that we've been fed by the "smart people" for the last 35 or 40 years can just be pushed aside and forgotten. Oops. Never mind.
Now on to global warming and rising sea levels, the new reasons to end capitalism and freedom.
The fools do not understand we have ti import heavy crude because the refineries here are not up to speed on the sweeter crude.. think Venezuela
Oddly back in Bush I administration we destroyed the Soviet Union due to Saudis Arabia. We destroyed them via economics as their economy was based on oil and they were the greatest producer of oil at the time. The price of oil collapsed and the Soviet Union failed. They failed because the Saudi’s produced huge amounts of oil as Bush dictated.
Even more oddly, today the USA is the nation that determines the price of oil due to fracking. We are now an oil exporter and our production increases year by year. We are the number one producer of oil in the world and have potential resources to produce much more.
After the Soviet Union collapsed the Saudi’s realized the danger our new production via fracking and tried to do the same thing to us. They produced much oil in an effort to kill our fracking. It was marginally successful and fracking soon returned leaner and meaner and much more efficient just do to economics.
So US produces about 13 million bbl per day and imports about 7 mbbl/day to satisfy total consumption of 20 million bbl/day. Most of that 7 mbbl/day is to dilute our shale produced sweet crude with heavy crude to feed our domestic refineries.
Much of that heavy crude is from Canada, Mexico, and Venezuela (Saudi Arabia now with Maduro sanctioned).
Are we starting to convert any refineries to handle sweet crude only?
Now all we need to do is build more refineries.
We import about 1/3 of crude oil consumed in US. We net export petroleum products for the first time. That means we now produce enough to cover the 1/3 of crude imported.
Petroleum products are crude, refinery output, and maybe LNG exports? These liquid petroleum products are still mostly consumed in the US. In September we just became a net exporter, by a little and growing amount above what we consume.
Sorry, I think we handed the keys to the world, to China.
I feel like youre making an important point. What is wrong with our refineries?
Bill Clinton is a large part what happened to our refineries.
He used multiple levers to eliminate a large percentage of our refinement.
More fracking, please. This is real winning. We need to stop giving any muslim states any money through oil sales.
There is plenty of heavy crude in California. And refineries can be "re-tuned" (actually "de-tuned") to handle the sweeter crude. Some fracked output almost requires no refining due to a higher proportion of light ends. IOW, industry can and will adjust to match the feedstock mix.
Nothing. They evolved over time to handle the available crudes of the day. A similar evolution is happening now....it just takes time.
Sarah Palin nailed that one, too: "Drill, baby, drill"
Why the appelation superpower to the concept of petroleum export?
Leading or largest would be less hyperbolic or exagerative
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