Posted on 02/18/2023 7:53:49 AM PST by TigerClaws
The United States is on track to receive nearly 3 million barrels of crude oil from Venezuela this month, according to shipping documents seen by Reuters.
Chevron is on track to ship 100,000 barrels of Venezuelan crude oil per day into the United States as part of a license it received from the U.S. Treasury Department that gives it a limited pass to move sanctioned oil, after a three-year ban.
(Excerpt) Read more at oilprice.com ...
Foreign dictator's oil? Good!
It looks like Chevron greased the right palms to get this juicy little racket.
Our new friends
Meanwhile, Biden is selling another 26 million barrels from our strategic reserve:
https://www.yahoo.com/now/us-sell-another-26m-barrels-203000935.html
What are Hunter and "The Big Guy's" take from this?
But we shut down our own pipelines. Ok.
Venezuela crude is some heavy, nasty stuff.
There’s only a couple of old refineries left n the U.S. that are capable of handling it.
I wonder how much Venezuelan human debris and sewage FJB agreed to take off their hands. Aren’t we already accepting “refugees seeking asylum” from that sh*thole? It sound like the U.S. is a part of the problem.
WANNA bet the oil gets ‘trans-shipped’ directly to China * JOE gets the money???
1) Not all Venezuelan oil is Orinoco Heavy, which is the very tar-like crude similar to Canada’s oil sands product.
2) The US oil consumption is about 20 million barrels/day. 100K barrels/day for 1 month is miniscule. That 20 million is actually rising coming off Covid. EVs mean nearly nothing because the people who drive them are Dem voting city folk, and they never drove far in a day anyway, so them switching doesn’t save much oil consumption.
3) The world of oil is filled with large numbers that people will not understand unless they study, and people are not going to study. This is case in point. 100K bpd is tiny for the US.
4) Geology doesn’t care about politics.
That is about two hours worth of oil.
“There’s only a couple of old refineries left n the U.S. that are capable of handling it.”
Valero has the capacity and ability to refine the Venezuelan oil.
And now that the United States is producing 12.3 million barrels per day, this will have slight downward pressure on oil prices.
Alberta oil is evil too. Can’t be having that.
What do you expect? An oil company must supply feedstock. If BeijingBiden wants his cut from fellow commie trash and outfits like Chevron are in the supply chain and cannot source it domestically — this is what happens.
BBiden wants to kill domestic supply — cause they don’t bribe him.
Chevron is caught in the middle.
I agree with you on that. Part of the problem, though, is that these major oil companies are not spending good money to fight the "climate change" lies in the public sphere and they are getting what they deserve for being weak. They need to buy ads touting the benefits of oil and gas and to educate the public. What do they do? Nothing effective that is for sure.
High sulfur content hard to distill.
and you watch- some country will come to bidens rescue right around election time, prices will drop, and viola, the steeple will think he’s a miracle worker and vote for him
Dictatorship alliance. For the common good.
Bet we're paying top dollar, though.
As I understand it the Venezuelan oil contains more sulfur and cost more to refine
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