Posted on 07/24/2023 6:26:26 AM PDT by artichokegrower
Asian refiners have booked near-record volumes of U.S. crude to be shipped in August, replacing Middle Eastern oil, as competitive prices and ample supplies attracted heavy buying, according to trade sources.
(Excerpt) Read more at gcaptain.com ...
While Americans pay $5 a gallon for gas and are going to be forced to buy electric cars.
WHAT? We keep hearing that our supplies are low and the reserve has been used up and now some insane low IQ fool is selling off our crude oil.
Article 25!
Our Asian crude sales will come in handy for the Chinese when they invade Taiwan.
Actually, I think our wonderful energy czaress has been calling for more product. It just doesn’t get reported as its an export
>>Asian refiners have booked near-record volumes of U.S. crude to be shipped in August, replacing Middle Eastern oil
If I’m not mistaken, Middle Eastern Crude tends to be higher sulfur than U.S. crude, which may change up the refinery outputs a bit. This change is not just about prices.
I can see Biden putting the for sale sign on ANWAR for China calling it a closeout since we are all going to electric cars. And of course going the other direction, chinese electric vehicle (EV) battery makers dominated the global market in 2022, with six companies featuring among the world’s top 10 players and accounting for a 60.5 per cent share. They used to call this coming and going.
wy69
Its not because of the price of petroleum.
As for California gas prices, its most definitely not because of the price of petroleum.
US petroleum production is almost back at the 2019 peak
https://www.eia.gov/petroleum/production/
Thanks to higher prices recently.
Interesting. We go electric. The money is invested and stays in the US. The rest of the world sends us the money for the crude. Sound simple to the simpletons.
I get the feeling ethanol has the same ideas built in. Consumer gets burned.
No idea.
I am convinced these, commodity markets, are chaotic systems and nobody is in charge. Policies amount to no more than gestures or hopes, and the guys who think they are in charge are even more clueless than the rest of us.
As for gas prices, yes the consumer is being screwed, especially in CA.
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