Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

General Discussion

Spider Jerusalem

(21,786 posts)

12. It won't decrease the amount available, for a start

Reply to Vincardog (Reply #11)

Tue Feb 21, 2012, 05:58 PM

Feb 2012

there's as much in the market as the market demands; refined gasoline is a "just in time delivery" product; it's not stockpiled. There's as much being used as being demanded, keeping it in the US is only going to RAISE the price because it's taking however much out of the global market. And the Canadian tar sands oil resource is very sadly probably going to be explouted, because people are stupid; if the US doesn't buy the oil, China will. Tar sands oil is only being produced because all the oil that's easy to find has been found, and it's only economical to produce in a world of high oil prices; the break-even point for tar sands oil is $75 a barrel, which means they need about $80 a barrel for it to be profitable.

Edit history

Please sign in to view edit histories.

17 replies

= new reply since forum marked as read

Highlight:

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