Before the communists took over Venezuela, Chevron was a major producer of heavy crude.
Many of the asphalt roads in the eastern half of the USA are covered with this heavy crude oil.
-PJ
Wait a minute. Many years ago Al Gore said that oil harmed the Earth, and would cause polar bears to go extinct.
This is all so confusing. Now Joe Biden wants to ramp up oil production. Why does he hate the Earth? And why does he want to kill all the polar bears?
Well, it's just one Commie Government helping out another Commie Government, neither of which will deliver the oil that they were already paid for.
I remember the Good Old Days when the Soviet Union was Communist, and now it's the US Government that's the Commie Menace, how times have changed!
With inflation and all, it’s now, “TWENTY PERCENT for The Big Guy!” Happy Days ARE Here Again...for Brandon and his Merry Band of Grifters!
Hunter being recruited right this minute to work for Chevron. *SPIT*
What most hippies don’t understand is that, if you make it difficult to drill in the US, two things happen. One, the price goes up, which means the oil companies make more money for less work. The second is that they just shift their investment dollars abroad. So foreign governments collect the royalty payments, and foreign labor collects the salaries.
Either way, big oil is fine. They have what you need, and they are good at finding more of it.
Hey stupid idiot homo loving communist dimocrats: THE OIL IS OUT IN NORTH DAKOTA!!!!! How’s about opening THAT BACK UP, you stupid fools!!!!
Chevron Could Get Approval To Ramp Up Dirty Oil Production In Venezuela
While US Clean Oil remains Tightly Restricted For The Children.
Bull.
Now Biden has 4 rings in his nose Xi gets first pull.
Russian Oil Production is virtually the same today as it was prior to the Ukraine War. Our sanctions on their oil and gas did nothing. Oil is fungible on the world market. Russia does not care who buys it as long as it is sold. These sanctions on oil and gas were idiocy that have hurt Western Europe grievously and somewhat the USA. There are many ways to hurt Russia economically but oil and gas is not one of them.
Europe does not have a great deal of oil reserves but does have considerable natural gas reserves. They refuse to exploit them. Thus, they made their own problem. Trump told them and they laughed at him.
The reason for high gasoline prices in the USA is Biden administration policies of stopping lease sales, extreme environmental restrictions on drilling, lack of new refining capacity, stopping the keystone pipeline, etc. However, I do give Biden credit for the recent lowering of gasoline prices. It is called supply and demand. WE ARE IN A RECESSION AND DEMAND IS FALLING! Biden’s economic insanity caused this recession.
“Go Brandon”
What difference does it make to climate change if we burn Saudi oil or our own? The demand is fairly inelastic and we’re going to use what we need regardless of price or source. It’s Econ 101.
Now if they could only get permission to ramp up oil production in California.
The United States was a total petroleum net exporter in 2020 and 2021. In 2021, the United States exported about 8.54 million barrels per day (b/d) and imported about 8.47 million b/d of petroleum, making the United States an annual total petroleum net exporter for the second year in a row since at least 1949. Total petroleum net exports were about 0.06 million b/d in 2021, and total petroleum net exports in 2020 were 0.63 million b/d. Also in 2021, the United States produced about 18.77 million b/d of petroleum and consumed about 19.89 million b/d. Even though U.S. annual total petroleum exports were greater than total petroleum imports in 2020 and 2021, the United States still imported some crude oil and petroleum products from other countries to help to supply domestic demand for petroleum and to supply international markets.
The United States remained a net crude oil importer in 2021, importing about 6.11 million b/d of crude oil and exporting about 2.96 million b/d. However, some of the crude oil that the U.S. imports is refined by U.S. refineries into petroleum products—such as gasoline, heating oil, diesel fuel, and jet fuel—that the U.S. exports. Also, some of imported petroleum may be stored and subsequently exported. But that changed with the Obama/Biden administration changing of our policies concerning the petroleum industry.
With the decision during the administration of former President Barack Obama to end a four-decade near-embargo on U.S. oil exports in 2015, U.S. exports have grown in value from less than $2 billion in 2009 to more than $65 billion in 2021. Oil was, in fact, the nation’s third most valuable export, trailing No. 1 gasoline and refined petroleum products and No. 2 civilian aircraft.
So, the increase of Venezuelan oil coming ashore in the United States went largely unnoticed, except of course to Chevron and the Venezuelan government. What that led to was during this time, post 2015, was oil imports from Canada topping 50% of the total in 2020, a first, and again in 2021.
Can’t see the forest for the trees.
wy69
This will bring down the price of gas. This will lower electric costs. You might think this is good news but not so to the people who are happy to see the economy tank if its good for the GOP