It's worth it.
Posted on 02/23/2017 12:46:32 PM PST by Lorianne
see link to article below
I am fine with this. We all have a reason to put Muslim oil countries into deep despair.
Saudis lose No. 1 spot for 1st time since March: official data
U.S. ranked No. 3 with output of 8.8 million barrels a day
I wasn’t aware the US is the third leading producer. Why on God’s green earth are we importing oil?
...and just like that...
Mooslimb oil didnt matter any more.
Russia has made deals to sell oil in currencies other than the dollar. Smart move on their part, but bad for us as the petrodollar is the only thing that has enabled us to get into so much debt. That wasn’t good, but now we are expected to repay it.
If only we had a president with the vision to see this and to seek a friendship. ....oh wait.
The Saudis and the politicians they own are naturally worried about Trump and Putin working together.
“I wasn’t aware the US is the third leading producer. Why on God’s green earth are we importing oil?”
There is oil and then there is oil. Not all oil is the same. Some oil has lots of diesel in it, some doesn’t.
But be that as it may be, your question is answered pretty simply:
The US burns 20 million barrels per day. Every Single Day we consume 20 million barrels (a barrel is 42 gallons).
We “produce” (no one “produces” oil, it is extracted not produced) about 9.5 mbpd.
And that is the answer to your question.
US will be #1 with 8 years of trump.
Obama did his best to cripple us
Thank you. But, my guess is that if the price per bbl were appropriate we could extract more than what we use per day.
Why do you think so? We’ve been pumping oil out of the ground in the US for 100 years. Doesn’t that suggest there is less of it now than there was?
And why would you think US rock holds more oil than other country rocks? Russia does have a lot more surface area to extract from. Why aren’t they destined to be #1?
Maybe, or you could nationalize the industry and order more production regardless of price. And then decree a lower price at the pump.
Argentina’s oil price right now is about $74/barrel. They just decreed that price so that oil extraction efforts in Argentina could be profitable.
Don’t presume money means anything. It’s printed from thin air, after all. Geology doesn’t care what central banks do.
The US hasn’t exported oil since the 1920s because of how much we use. Fracking might change this and if it does the world will turn upside down.
It's worth it.
There is a new flame on town..
>I wasn’t aware the US is the third leading producer. Why on God’s green earth are we importing oil?
For the most part we’re not. We’ve been effectively energy independent since fracking really got going. However, we also have world class refining for some of the harder types to refine oil so we import oil from Venezuela and Canada and export gasoline as a finished product.
Obama working with the Saudis tried to destroy both American fracking and Russia at the same time back in 2014 by drastically dropping the price of oil through massive Saudi exports. The result was that Russia started building a lot more industry to make up for less exports and the American fracking industry was able to greatly reduce costs.
You may wonder why Obama and the left tried to destroy fracking. It’s simple: right wing voters work in the oil industry thus harming it harms them. Leftist intentions become amazing easy to understand when you realize their only driving force is to harm people who don’t vote for them. Everything else they babble about is just cover for the low level war they’ve been fighting against us since the 60s.
I always wondered how such a kleptocratic nations to successfully produce a resource like oil.
I always wondered how such a kleptocratic nations to successfully produce a resource like oil.....WHAAT? They don’t PRODUCE it, they just recover it. God produces it.
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