Posted on 04/10/2014 5:59:57 AM PDT by thackney
Bloomberg article so link only
My notes and highlights below
(Excerpt) Read more at fuelfix.com ...
Yep, quite a bit of that going on. And has been for a while
Kinder Morgan Expanding Houston Ship Channel Operations
http://shipandbunker.com/news/am/215511-kinder-morgan-expanding-houston-ship-channel-operations
Kirby Corporation To Build Additional Inland Tank Barges For Delivery In 2014
http://finance.yahoo.com/news/kirby-corporation-build-additional-inland-215000975.html
BOSTCO Project, Houston, United States of America
http://www.hydrocarbons-technology.com/projects/bostco-project-houston/
I yearn for the days of competitive oil pricing with large supplies - we just need to drill.
ontap ~ Problem with that is it would require our commie president to do something beneficial to the US and detrimental to the Ruskies....something that would set back his plan to unilaterally surrender!!!
EVERYTHING obama does either:
a) Weakens America/AmericansI have yet to have anyone raise a single substantive counter example in several years of posting this.
b) Distances America's allies
c) Strengthens America's enemies
d) Serves Islam
e) Harms Israel
Or some combination of the above.
Apparently not for the light crude that they're talking about.
There is a lot of truth in what you say. I never can believe that today those who govern actually seek to impose burdens and harm upon us rather than free up the spread of productivity and resulting wealth. “Sick Puppies!”
That’s true. There’s an effort to change the export laws. After Crimea, it looks like Congress is moving in that direction. Obama would have to veto the legislation. My guess is the energy companies have enough clout to get R done.
"turning Around" a running refinery (giant machines that never stop) is expensive, time consuming and sometimes dangerous.
what we really need, as everyone knows, is “investment” in wind and solar....
That’s right so dump it on the market and kill the price of oil. It’s basic supply and demand. OPEC beat econ 101, by playing games with supply. That doesn’t work when we start dumping oil on the market. In fact it may result in a downward spiral since other nations, including Russia and the Middle Easter oil exporters rely on oil for financing their economies. They’ll have to pump and sell more in the face of declining prices to maintain their income.
The Saudis rightly recognized that fracking was the equivalent of a gun to their head. Now that we have the light oil, it’s time to pull the trigger.
If you’re reading this thread, you already know we have oil coming out our ears with more to come. Same with natural gas.
If the Jones Act didn't tie our hands needlessly, that oil would go to US refineries that today import light sweet from overseas.
It is a matter of location and transportation, not the total capacity.
For some bizarre reason,it is acceptable for a foreign ship with a foreign crew to delivery oil from an overseas nation to any port in the US, but it is not acceptable for the same crew and ship to deliver crude produced here in the US to the same US port.
We still import nearly as much crude oil as we produce ourselves; 7.6 versus 7.9 MMBPD. While the imports are falling and the domestic production is climbing, we have a long ways to go just to break even.
Crude Oil Production
http://www.eia.gov/dnav/pet/pet_crd_crpdn_adc_mbblpd_m.htm
U.S. Crude Oil Imports by Country of Origin
http://www.eia.gov/dnav/pet/pet_move_impcus_a2_nus_epc0_im0_mbblpd_m.htm
“Crude exports here are banned.
There are 13 ships that meet the requirement of the Jones Act to move oil from one US port to another. Those are booked solid.”
Ok, so why is regular unleaded $3.59 and Diesel is $3.55 in South Fort Worth TX this morning?
Glut of oil should mean cheap prices on gas and diesel.
WE WANT NEW REFINERIES AND WE WANT THEM NOW!
We had a big slick in Houston last night, but he left for Austin this morning.
And we have already spent the money to take advantage of the cheaper oil.
.........
I have not seen the spread recently between brent & WTI. is imported heavy crude cheaper than local domestic light crude?
Not a glut?
Yes , I understand that. I’m just wishing for days of old and <.99 per gallon gas.
I was pumping gas back in the late ‘70’s and early ‘80’s and my how the old timers whined when gas went above $1. Then we all complained about $2 per gallon. But now everyone just goes along with the Obama inflation exorbitant price of fuel and everything else.
is imported heavy crude cheaper than local domestic light crude?
Yes. See Jan prices and history below.
Light Louisiana Sweet First Purchase Price $89.39
http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=F003075773&f=M
West Texas Intermediate First Purchase Price $90.39
http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=F003048623&f=M
U.S. Landed Costs of Crude Gravity 20.1 to 25.0 percent $78.36
http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=I000000258&f=M
I understand. When I was working in Alaska, doing oil industry work, I started riding the bus when gasoline hit $2.50.
Eventually I decided my time was more valuable.
Thanks for the update.
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