General Discussion

bonzotex

(874 posts)

34. just for the record

Sun Feb 26, 2012, 08:53 AM

Feb 2012

The US produces about 6 million barrels of crude oil a day and that figure is going up.

http://www.chron.com/business/energy/article/N-American-oil-output-could-top-40-year-old-peak-2193837.php

We consume about 18 million.

http://www.indexmundi.com/energy.aspx

We export quite a bit of refined oil products and crude oil.

http://205.254.135.7/dnav/pet/pet_move_exp_dc_NUS-Z00_mbblpd_m.htm

The current rise in gas prices is about crude futures speculation. It has very little to do with curent supply and demand. This is very rich people and corporations playing with money.

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Would reducing US fuel exports stop gas prices from spiking? [View all] Montauk6 Feb 2012 OP

gasoline is processed crude oil, which the US imports almost entirely. napoleon_in_rags Feb 2012 #1

Or tell the countries to process their own damn oil New Yawker Feb 2012 #4

I wonder how much of a cash cow it is for those who do it. nt napoleon_in_rags Feb 2012 #5

just for the record bonzotex Feb 2012 #34

What? We export NO CRUDE. Lets go to the site you linked to and compare Imports vs Exports. napoleon_in_rags Feb 2012 #37

relax...just suggesting you be more precise bonzotex Feb 2012 #40

Kicking the oil speculators to the curb is what will do it. Initech Feb 2012 #2

1) Nationalize gasoline refineries NOW; or 2) The more horrible option Zalatix Feb 2012 #3

The problem with that is Hutzpa Feb 2012 #8

Last week, we imported more gasoline than we exported FarCenter Feb 2012 #6

Let me see if I understand Hutzpa Feb 2012 #7

It's a global market Oasis_ Feb 2012 #9

That's also a horrible, horrible idea Spider Jerusalem Feb 2012 #11

That's not accurate at all Oasis_ Feb 2012 #13

"significantly increased domestic production"...how? Spider Jerusalem Feb 2012 #16

it's not a difficult process Oasis_ Feb 2012 #18

This presumes that the resources are there to exploit... Spider Jerusalem Feb 2012 #19

You're questioning Oasis_ Feb 2012 #21

I'm questioning whether they'd meet the upper or lower estimates Spider Jerusalem Feb 2012 #24

I'm employed in the industry Oasis_ Feb 2012 #25

Peak oil as such isn't a lie... Spider Jerusalem Feb 2012 #27

We have already increased domestic production Viking12 Feb 2012 #39

Emptying the strategic reserves may be a good idea -- it takes attacking Iran off the table FarCenter Feb 2012 #15

Unless Iran successfully tests an atomic bomb and threatens to use it, we won't attack them anyway DFW Feb 2012 #36

The answer to that question: No, it would not. Spider Jerusalem Feb 2012 #10

No, of course not Yo_Mama Feb 2012 #12

How do you propose to do that exactly? Spider Jerusalem Feb 2012 #14

I don't Yo_Mama Feb 2012 #20

No -- Reducing bankster oil speculation would stop gas prices from spiking rocktivity Feb 2012 #17

this is true. It is that simple sometimes n/t bonzotex Feb 2012 #35

Add 117,000,000 gallons of gasoline, diesel, and jet fuel to the US market EVERY DAY... cherokeeprogressive Feb 2012 #22

How so? Oasis_ Feb 2012 #23

Crude imports are down. Refined product exports are up. cherokeeprogressive Feb 2012 #26

The answer to that is very simple: Spider Jerusalem Feb 2012 #28

Yes but we are importing less and less crude oil as time goes by. cherokeeprogressive Feb 2012 #29

No Spider Jerusalem Feb 2012 #30

Do you believe that increased cost for gasoline, diesel, and Jet A is a good thing cherokeeprogressive Feb 2012 #31

It may be a good thing insofar as it spurs efficiency... Spider Jerusalem Feb 2012 #32

So just to clarify... cherokeeprogressive Feb 2012 #33

It would probably make anything imported into the US much more expensive NickB79 Feb 2012 #38