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Spider Jerusalem

(21,786 posts)

6. I'm sorry, but this just seems like basic economic ignorance

Tue Feb 21, 2012, 09:40 AM

Feb 2012

first, those exports? Are of oil imported from outside the US (Mexico, Canada, and lots of other places), refined in the US, and then re-exported because of a lack of refinery capacity, or because it's simply easier to refine on the Gulf Coast and then ship to Brazil or wherever. The US produces 5.5 million barrels of oil a day and uses a bit less than 18 million. And quite honestly? Looking at the question of supply and demand in a narrow regional manner, and thinking that US demand matters in the big picture of global oil demand (which is at record levels), is just nonsensical. Oil is internationally traded; global demand determines the world market price, and if US demand is down...it's not in China, the Chinese will be more than happy to buy any fuel that the US, or Europe, aren't using.

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We subsidize the oil companies and... [View all] SHRED Feb 2012 OP

and in the context of Keystone XL Pipeline... handmade34 Feb 2012 #1

We get the socialized environmental risk...they get the profits. Old and In the Way Feb 2012 #3

one of the most important handmade34 Feb 2012 #4

We should send Big Oil a bill every year for about 1/3 of the Defense Budget. Old and In the Way Feb 2012 #5

You'd think that little factoid would get mentioned in the popular media gratuitous Feb 2012 #17

They don't call themselve's CONservatives for nothing. Old and In the Way Feb 2012 #2

I'm sorry, but this just seems like basic economic ignorance Spider Jerusalem Feb 2012 #6

Then at least the US should be TAXING the oil as it "flows thru" Vincardog Feb 2012 #7

The refiners are already taxed. Spider Jerusalem Feb 2012 #8

So in your mind it is good that the only thing we get out of the deal is the Environmental Vincardog Feb 2012 #9

Oil's going to be refined anyway, like it or not Spider Jerusalem Feb 2012 #10

The toxic sludge that is going to come out of Canada spells the end of a livable world environment. Vincardog Feb 2012 #11

It won't decrease the amount available, for a start Spider Jerusalem Feb 2012 #12

I beg to differ. If the oil that is now refined and sold in the USA is exported to China it Vincardog Feb 2012 #13

It doesn't decrease the amount available. Spider Jerusalem Feb 2012 #14

The filthy oil sand is not on the world market now. The pipeline's purpose is to bring it to the Vincardog Feb 2012 #15

Sure it is Spider Jerusalem Feb 2012 #16