Gas Prices Near You?

[Stewy]

(06-03-2022, 09:07 PM)BigPapaKain Wrote: Cool - keep telling me things I already know.

That said - there's a reason America imports any amount of oil. Yes we have enough domestically to meet our needs for a long time, but there is literally no reason to tap yourself out and get held hostage by outside countries when your wells start running dry.

I'll grant you it's stupid; but reality often is.

Ok since I'm telling you things you already know then I suppose you know this too.

Our imports are 0% politically motivated and 100% economically related.  They are associated with trades between oil companies to balance refinery capacities around the world.  Or BTU for BTU swaps of oil for Natural Gas (or vice versa) for other economic reasons.

Hypothetical Example:  XOM just started production in Guyana and it has a large portion of heavy oil.  They have enough heavy oil at their disposal to keep their own refineries at capacity, but they have a lack of sweet light crude for their other refineries.  BP has a UK refinery that needs heavy oil to stay at 95%+ capacity, so they trade oil with Exxon.  Exxon's Guyana oil goes to England, and BP light crude goes to an XOM refinery in the states.  On the books it looks like we're importing oil.  When is reality all it is was a swap to keep refineries going.  And it had 0% to do with politics.