Posted on 03/08/2020 9:07:40 PM PDT by nickcarraway
The United States was a net exporter of crude oil and petroleum products last month, with the four-week average net imports at a negative 907,000 barrels per day (bpd) in the last week of February, the lowest ‘imports’ level in EIA data dating back to 1973, according to EIA’s weekly data on net imports of crude oil and petroleum products.
Since the start of 2020, the U.S. was a net exporter of crude and petroleum products in each of the weeks in January and February, EIA data shows.
The United States exported more crude oil and petroleum products than it imported in September 2019—the first month in which America was a net petroleum exporter since monthly records began in 1973, the U.S. Energy Information Administration (EIA) said at the end of last year.
In September 2019, the U.S. exported 89,000 bpd more crude oil and petroleum products than it imported, due to surging U.S. crude oil production and the lifting of export restrictions in 2015, and to continuously growing oil products output and exports, the EIA said in December 2019.
On an annual basis, the United States will become a net oil and oil product exporter this year, thanks to continued growth in production combined with slacker domestic demand,ed.
(Excerpt) Read more at oilprice.com ...
I will give you this: No country in the world has a better collection of classical musicians than Russia.
Okay, Nick:)
They thought Sarah Palin was nuts for her “Drill, baby drill” comment.
Palin was right, BUT, the present problem viewed globally is oversupply.
If the global price war goes on for long, and if Pres. Trump wants to keep the US shale patch going strong, we’ll have to figure out something. Maybe tariffs on imported oil from suppliers we do not particularly like?
Hmmm...
Key might be that the Saudis came back the next day and announced their intentions. That tells me MBS did some quick consultations with whatever major Saudi players he thinks he needs support from to engage in a price war, got those commitments, arrested dissenters, and then the new strategy was announced.
Also significant is that Putin has to keep “his” oligarchs fat & happy too.
Then there is the bigger picture with Saudi likely still having designs on control of Syria (or at least part of it) and Turkey being in the mix — and Turkey can cause a LOT of “drain” on Russia. I imagine this has the double benefit of whacking the Iranians, who are in a mell of a hess as it is.
Definitely “agreed” with respect to ISIS.
And there allegiance is to money, not Allah. Of course, they can't publicly indicate this. Because the population of Saudia Arabia is much more religious. And they wouldn't like it if they knew how their leaders thought and acted.
And the last thing they want is some kind of religious uprising in their country. How long would they last if their subjects decided they want a Caliphate, like ISIS talks about, instead of the secular leaders? They's probably end up dead, and they'd certainly lose all their Rolls Royces. The ones they don't keep overseas anyway.
I know a lot of Freepers thing Saudi's leadership loves extremist Islam, but it simply isn't true.
They let out steam using radical Islam. Nobody says ISIS is their pet project, but it is fed by the Saudi wealthy who are sympathize with their cause, some part of the royal family. The rest are paying lip service to it.
Would you say Osaba bin Laden wasn’t one of them. ‘Black sheep’ excuse is kind of silly in this case. You don’t see many radical islamists within Texan ranchers’ families but it seems like a problem within Saudi families. You might tell it is not the case but I choose to believe my ‘lying eyes’.
First of all, bin Laden was not from the royal family. His father was from a poor family from Yemen. He did become a wealthy man, and forge friendships with some royals. He was religious, but no radical. Osama was kind of a black sheep, and not typical of the family.
For whatever reason he became radicalized.
And his country took noticed. He was finally permanently banished from Saudi Arabia in 1992. He had to travel from country to country because his own country would execute him if he returned. They even attempted to assassinate him.
If the Saudis approved why would they banish him and try to kill him?
Did you expect them to stand by him even after hile did what he did? It is too brazen even for the Saudis.
His family might be not royal but very influential and a part of the elites.
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