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US buys more Saudi Oil

6% increase vs. last year.

What else changed? Did we decrease shipments from some place else? Decrease production here?

There's a lot more to this story than just "US increase oil purchase from SA".
 
I would be guessing, but I suspect the US is also buying less Venezuelan oil.. for political reasons. Add to that... the fall of Gadaffi..
 
PeteEU said:
I would be guessing, but I suspect the US is also buying less Venezuelan oil.. for political reasons. Add to that... the fall of Gadaffi..
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Easier to refine Saudi Oil, it's sweet light crude where Venezuelan oil is heavy sour crude and requires much more refining.
 
clownboy said:
Easier to refine Saudi Oil, it's sweet light crude where Venezuelan oil is heavy sour crude and requires much more refining.
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And we don't use the type of oil Libya extracts.
 
tessaesque said:
And we don't use the type of oil Libya extracts.
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Libyan oil is also sweet light crude (the easiest and cleanest to refine). We get a little less than 1% of our oil imports from Libya (only 44,000 barrels of oil a day).
 
it's a very poor plan for a country like the US to be this energy dependent. we need to start seriously planning and innovating the post-oil model, and we need to do it by 1978.
 
That oil belongs to us anyway, at less than $5 a barrel. We invented the technology, drilled the wells, and are pumping it out. Somehow this vital resource fell into the hands of the backward sand bandits, who wouldn't have ever have discovered it on their own. How much was this territory worth to them before we created its value?

Of course, the cause of this is not that we've become touch-feely pushovers who hand over everything we create on our own to those who did nothing to deserve it. The American oil companies piggyback off Arab price extortion and also make even more from drilling foreign-owned oil than they did when they owned those properties. The empire struck out because the UN umpire blew the call.
 
rocket88 said:
God forbid you show respect to an ally.

Wait until a Republican does that. Then you'll be saying it's the single greatest foreign policy event in our history.
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A small history lesson for you ... NEVER EVER has a US President bowed to ANY royalty. I'm sorry that some of you don't like the title and the link ... but don't even try this tripe comment about a Republican doing it. Ain't never happened before and ain't never gonna happen.

A L
 
Another Lurker said:
A small history lesson for you ... NEVER EVER has a US President bowed to ANY royalty. I'm sorry that some of you don't like the title and the link ... but don't even try this tripe comment about a Republican doing it. Ain't never happened before and ain't never gonna happen.

A L
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Yes it will. 100% guarantee. In fact, I wouldn't be shocked if it's Romney.
 
PrometheusBound said:
That oil belongs to us anyway, at less than $5 a barrel. We invented the technology, drilled the wells, and are pumping it out. Somehow this vital resource fell into the hands of the backward sand bandits, who wouldn't have ever have discovered it on their own. How much was this territory worth to them before we created its value?

Of course, the cause of this is not that we've become touch-feely pushovers who hand over everything we create on our own to those who did nothing to deserve it. The American oil companies piggyback off Arab price extortion and also make even more from drilling foreign-owned oil than they did when they owned those properties. The empire struck out because the UN umpire blew the call.
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LOL where on earth do you get your information from?

You did not invent the oil well, or the modern oil well or the technology. Oil has been taken out of the ground in the area for 600 years, 400 years before the US was even thought off.
 
PeteEU said:
LOL where on earth do you get your information from?

You did not invent the oil well, or the modern oil well or the technology. Oil has been taken out of the ground in the area for 600 years, 400 years before the US was even thought off.
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You're kidding me :doh History goes back that far!!

Paul
 
Who likes facts!?

Born Free said:
It's no surprise, Obama won't drill here
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The US produces nearly 6 million barrels per day domestically.


He would rather do that than drill here and bring home all that 500 billion a yr and the jobs that go with it.
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Really? Who is importing this oil, do you think? The US government? Are you advocating some kind of nationalized oil industry? Because if not, then you're talking about private businesses, such as, hmmm, maybe oil refineries? Whose business it is to refine crude oil? So of ****ing course they're going to import crude to refine.

The US is a giant oil refinery. We import crude, refine it, and either sell it domestically or export it back out of the country. Are you in favor of destroying one of the country's most lucrative businesses and all the jobs that go with it?

FWIW, the US refines 15+ million barrels a day.

Helix said:
it's a very poor plan for a country like the US to be this energy dependent.
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How is the US "energy dependent"? Perhaps you can provide some statistics on what oil the US "needs" vs. what it is importing for the purposes of refinement (i.e. making money, adding jobs to the economy and increasing GDP).
 
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Khayembii Communique said:
How is the US "energy dependent"? Perhaps you can provide some statistics on what oil the US "needs" vs. what it is importing for the purposes of refinement (i.e. making money, adding jobs to the economy and increasing GDP).
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US daily oil production : 6 million BPD.

U.S. Daily Oil Production At Highest Level Since 1998 | Plugged In, Scientific American Blog Network


US daily oil consumption : 18.7 million BPD.

UPDATE 2-US oil demand up in May, first rise in 14 months | Reuters

that's quite a gap, and it's a gap that we can close a little, albeit temporarily. however, we need to ramp up innovation and implementation of the post oil economy as soon as possible.
 
Helix said:
US daily oil production : 6 million BPD.

U.S. Daily Oil Production At Highest Level Since 1998 | Plugged In, Scientific American Blog Network


US daily oil consumption : 18.7 million BPD.

UPDATE 2-US oil demand up in May, first rise in 14 months | Reuters

that's quite a gap, and it's a gap that we can close a little, albeit temporarily. however, we need to ramp up innovation and implementation of the post oil economy as soon as possible.
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The US also exports around 8-12 million barrels per day. Why do you think that is?
 
Khayembii Communique said:
The US also exports around 8-12 million barrels per day. Why do you think that is?
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to make money.

are you arguing that if we kept it all, we'd be energy independent? how would that work, and for how long would the supply hold out? what would happen to costs as we approach the proverbial bottom of the barrel?

the fact remains that unless you believe in abiotic oil, we're going to run out of it at some point. if we prepare now, we might avoid participation in a further escalating war for diminishing resources. if we innovate a long term solution, that energy model / technology might be exportable, as well. it's my opinion that we should make energy innovation a top tier priority.
 
Helix said:
are you arguing that if we kept it all, we'd be energy independent?
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I'm arguing that the US is "dependent" on the global economy for oil as well as everything else and that it is impossible to not be. Not even the DPRK is "independent". The argument of "energy independence" is as silly as the argument about balancing the budget.

the fact remains that unless you believe in abiotic oil, we're going to run out of it at some point.
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Oil reserves are larger than the peak oil crowd claims, and the situation is most definitely not dire but I do support developing cleaner and more sustainable forms of energy. However, this will most likely not happen even with the government pushing for it.

I'm seeing 3.19 million per day in total petroleum products (including gasoline and distilled oil products), in this source.
U.S. Exports of Crude Oil and Petroleum Products

Would you supply your source?
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Found it on the same site somewhere. I can look it up later.
 
Khayembii Communique said:
Oil reserves are larger than the peak oil crowd claims, and the situation is most definitely not dire but I do support developing cleaner and more sustainable forms of energy. However, this will most likely not happen even with the government pushing for it.
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It MUST happen eventually. The oil cannot last forever, so we have to have an alternative at some point in time. When that time will be is the subject of much debate. For me, I would argue that the time to begin is now, because it will decades to update from an oil infrastructure. Instead of waiting for the 11th hour (which will be entirely too late) when the oil runs dry or it becomes so expensive it's no longer economically feasible (most likely scenario), we should prepare in advance and update our infrastructure. It's like two guys standing on a railroad track and watching an approaching train. They choose to argue about when it will arrive, rather than just stepping off the bloody tracks!
 
Khayembii Communique said:
Oil reserves are larger than the peak oil crowd claims, and the situation is most definitely not dire but I do support developing cleaner and more sustainable forms of energy. However, this will most likely not happen even with the government pushing for it.
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even if they are larger, how much larger? how many years? and, most importantly, how many years after large numbers of the Chinese and Indian populations start buying Buicks?

we really need to plan for this, because we simply can't afford not to.
 
EagleAye said:
I'm seeing 3.19 million per day in total petroleum products (including gasoline and distilled oil products), in this source.
U.S. Exports of Crude Oil and Petroleum Products

Would you supply your source?
Click to expand...

Yeah, there is no way. The peak exporters are Saudi Arabia and Russia which can put out around 7-12 mmbd and 7-9 mmbd respectively. I think we are something like 1.8mmbd.
 
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