this go away? With US energy independence and a swing producer in oil markets, we have the ability to be the world's oil stockpile which generates revenue for the US. With increased regulation and halting pipeline construction this goes away under a Biden administration. Less oil, higher prices, no revenue and energy alliances evaporate. That will cost thousands of jobs and make US manufacturing less competitive. But who gives a shit.
Read link below
Link: https://tankterminals.com/news/india-in-advanced-talks-to-store-oil-in-us-strategic-petroleum-reserve-oil-minister-dharmendra-pradhan/?utm_medium=email&utm_campaign=Newsletter%20TO%20-%20Week%2030&utm_content=Newsletter%20TO%20-%20Week%2030+CID_9b76aabd52
fuckups unless you're a multmillionaire
control of our oil supply inflation is greatly diminished. Think about it, when you come home and turn on the lights and natural gas is cheaper your electric bill is cheaper. When you travel by car or airplane and the costs remain cheap and don't inflate, It's cheap oil. When a family member doesn't have to fight another useless war in the ME, it's because of cheap US oil. When you use drugs, paints, your wives makeup, carpeting, flooring, fertilizers it's because of cheap oil. When your grocery bills don't rise it's because of cheap oil and the lower cost to grow crops and transport them to markets. Finally, when you and your wife, children buy items online delivered to your door and get free shipping IT'S BECAUSE OF CHEAPER OIL THAT OUR COUNTRY CONTROLS.
That's why there is no inflation regardless of how much crazy money we print to keep our economy and country alive during the pandemic.
Wake the fuck up and think. God damn it, you people are stupid.
As with so much of this admin's foreign policy, it is all being done with China in mind. And it is essentially irrelevant to us.
I could explain again that energy independence is not particularly important to US grand strategy, that oil is a global market with global supply and demand, and that what matters to economic performance is the PRICE of oil not its origin, but it would all be lost on you. Again.
We do not import much, but that won't matter if global supply drops and oil prices rise. We would be hurt.
Not that they will, with COVID and all.
I am asking. Does not self sufficiency insulate us from the whims, vagaries, and events of the rest of the world?
Example: Venezuela’s collapse would have hit us very hard in the pre independence days.
Not so much now. Wonder if he can explain why. He did write a dissertation.
...global price will rise. Price at the U.S. pump is a reflection of GLOBAL supply and GLOBAL demand.
You have some odd belief that we are still in a mercantilist system, where we are all self-sufficient when it comes to oil. To some extent that was true...prior to 1973. The world has changed drastically since then.
Prices at the pump are a condition of location, logistics, regional refining, trade, and supply. Do you wonder why prices are cheaper in the Gulf Coast and some areas of the Midwest? That's where the refineries are. Do you wonder why prices are higher in California and Florida? There are no pipelines suppling feedstock, crude oil, into their refining infrastructure. Do you know that Florida's is the third largest petroleum consumer in the US and has no refineries or pipelines. Everything is brought in by ocean going vessels and prices are higher. Hurricanes are another issue. Price spikes have nothing to do with global oil supply.
So that means that CA and FL can't get crude from the US wells because it has to be drawn from local wells or received via vessels in CA, or in Fl, only petroleum products are delivered into three primary state ports via ocean going vessels. Higher costs, right? Add that to the fact that CARB rules, California Air Resources Board, mandates for carbon emissions make California refineries spend millions to reduce carbon.
What does this have to do with global supply/demand and oil prices? Except if you are a huge importer of feedstock, crude oil. Venezuela used to supply a significant portion of heavy crude to Gulf Coast refineries, particularly CITGO which is owned by PDVSA. But they can't maintain their exports due to their socialist leader which has destroyed PDVSA and their economy.
So while oil supply and prices are global, our recent ability to self-supply makes us less vulnerable to oil price spikes.
I will invoice you for this information that you can include in your next dissertation.
And of course there are general trends.
If Saudi Arabia decided tomorrow to stop producing oil, the price would skyrocket everywhere. Immediately.
California would have slightly higher prices than louisiana. Taxes and distribution and such matter.
But our degree of “energy independence” would not matter at all.
1) And yes trends are our friends. At one time OPEC controlled oil supply and prices and created price spikes and our economy was crippled and we went to war to defend the world's economies including our own. I believe that trend is in the past. Wouldn't you agree? Why, because of our energy independence. A straight answer would be welcome, although I'm sure you won't give one.
2) Why would Saudi Arabia stop producing oil? That's a nonsense response. But I'll entertain your foolishness. That would mean that the US would ramp up crude oil production making us even more of a global energy supplier that would create even more jobs and revenue and oblivate our trade deficits. The world would be more dependent on us and bow down to us. You know, like the world used to bend down to OPEC. Is that a topic of discussion you would propose in your class?
3) No, taxes in CA will always be higher than LA because the state is short feedstock, crude oil, and must import oil from overseas. And with the number of cars, which they say they hate, the state taxes on fuels will always be higher to pay for crumbling highways and their polluted air. Can't get those Californians out of their cars though. You see we can't get pipelines built from our oil deposits in the Dakota's and West Texas to where its needed for refineries in CA. You know why, I hope. It's your Obama and Biden buddies that all think we will be driving EV's in 20 years. LA has oil and access to oil from Latin America on a cheaper delivery basis than CA.
4) Your last statement is the most idiotic. Do you believe that african nations would want to grow crops like the US? So food independence doesn't matter to them. Food and oil are commodities. Do you believe that America is blessed having natural resources that we can discover and produce for the benefit of our citizens livelihoods? Are you drinking or just stupid. Why would anyone, let alone a professor, claim that "the degree of our independence doesn't matter"
5) You are dumb as a stump, and as I said before, the fact that you spout this BS on this board is harmless but that you are teaching our kids this crap and that is what makes you a serious threat to our nations future.
6) Finally, anyone that supports your posts on this board are as dumb as you.
You missed every point.
And since I could not care less what you think, I’m done here.
Less damage to your students. Years from now when your students are gainfully employed they will realize what a dumb ass you were.
Any oil-producing state can raise the global price of oil by stopping production. Which would of course be self-defeating, but they could do it.
The Saudis are pretty much the only ones these days who can also lower the price by choosing to produce more. They have lots of excess capacity. They are essentially doing this now, largely to hurt the Iranians, Russians and US producers.
Global supply & demand sets the price.
I'll add this. Can't you see that the world has changed? It's reliability of supply. The ME remains a mess. Russia is trying to buy favors from Europe with energy supply and the anti Trump Merkel is more than happy to pin Germany's future on energy supply from Russia. How do you think that will work out.
China and Russia keep Venezuela afloat but it's a failed state and they have lost their ass. Sooner or later it will fall back into the America influence. US oil companies will come back in and spend billions to reestablish the benefit of the world's largest crude reserves.
I don't understand your unwillingness to clearly state that the US is in a far better state domestically and globally by having acquired energy independence and pursing alliances with other like minded countries, like India, that see us as a safe refuge for their energy needs. Like the US dollar.
Just try to put your hatred aside and see the world for what it has become.
It's a triumph for American technology.
I'm trying to have a reasonable dialogue here.
boon to us.
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Energy Independence.
I argue for the value of this security.
I also argue for the jobs and economic benefits of the business for our country and it's tax base.
Do you agree?
Link: https://www.forbes.com/sites/davidblackmon/2020/01/07/the-key-distinction-between-us-energy-independence-and-energy-security/#5ecfeff07859
Today, if there was an Arab embargo on, say, the UK, they would switch distibution and bring oil from another spot to the UK and re-route Arab oil elsewhere.
The US vulnerability is to price, not supply.
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Reasonable people can disagree about our energy security. We are certainly secure, but just how secure is a bit more controversial. But not much. The lights are notnabout to go off; this is not 1974.
Energy independence is an illusion.
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a shadow of it's former self to control oil supply and therefore the cost of global fuel and therefore manufacturing costs. China has limited oil reserves and needs imports to keep its economy alive. So control of oil has always been geopolitical. That's why the US has been involved in the ME quagmire since the early 70'S. Not so much anymore. Fuck them, we don't need ME or Russian oil.
And why would India form an alliance with the US on bilateral energy supply and trade. Because the US can produce oil India needs for its future, it's safe from ME conflict and the US is a reliable partner. What other global producer can claim that? China? Not hardly.
But your Democrat leaders will take that away from America and give control back to the ME and Russian producers. Right?
Saying China is irrelevant to the US on global energy policy reveals you ignorance. We have the one thing China lacks. Energy independence. If you can't understand that your an idiot.
I have been in the oil business for almost 30 years. You know shit about it. That would make you a likely candidate for Biden's Energy Secretary. You know like Obama's Secretary who was quoted saying he hoped for $9 a gallon gasoline prices. So his buddies could make millions of dollars off solar and wind farms.
Don't post about what you don't know. And Trump fucked up COVID, try staying on topic for a change.
Everybody wants it to grow.
The United States is not trying to dominate oil markets in order to control global commerce for some reason. That is not a factor in our (or anyone's) calculations.
As to what I know and do not know about this subject, I would just offer this: At least one of us wrote a dissertation about international oil politics. Maybe two, if you did too.
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billions of dollars of oil and petroleum around the world for 30 years. Maybe I was inadvertently part of your dissertation.
In regard to the US, the US doesn't want to dominate the globe, never said that, but we only want energy independence. It was a significant goal for America or any country to achieve when many, hopefully not you, forecast peak oil 30 years ago. How did that work out with the so-called oil experts.
Does China have energy independence? No. Thank God. That's why they have turned their skies into sludge with their dirty coal. And need growing imports of petroleum and oil to keep their manufacturing alive. China remains one of the largest importers of jet fuel on the planet. I'm happy to make them pay for it.
We are developing cleaner energies everyday. My company is part of the solution. We are importing low carbon density ethanol, biodiesel, and renewable diesel that reduces CO2 emission by 70% over corn based ethanol, which is basically a farm subsidy.
Guess where we are putting it? In Sacramento. And the liberal, Gavin Newsom is our biggest promoter.
Was this all part of your dissertation?
And I don't know what you mean about "this is not a factor in any of our or anyone's calculations?"
Maybe you need to update your dissertation or get out here where some of us are making a difference.
If the United States generated all its energy domestically, it would still have trouble if the global price of oil went up. That is, as long as we are primarily using fossil fuels. Which we will be for the foreseeable future.
Apparently being in the oil biz doesn't educate someone about how international economics works.
And I only discussed my credentials because you attacked. I don't give a shit what you think about this subject, as it happens. Your understanding is shallow, and you are unteachable.
I have become to understand that the virulent anti Trump posters on this board are just like him. When they can't use facts to back their positions, they deflect and when that doesn't work they resort to name calling. I have expressed my bonafides in my posts. You wrote a dissertation. You must be so proud of yourself.
First: So if the US generated all its fuel, the global prices would go up? And, America would make more revenue, increase exports and more American jobs, cheaper manufacturing, and improve technology to find even more oil. Do you understand economics?
You want higher fuel costs, reduced employment, dependance on other global suppliers, and the green movement. Sounds like a winning plan for America.
I don't need to be taught. I only regret that you are teaching our children.
You sir are turning our young generation into imbeciles.
movement. The answer is yes. He's a leftist, don't you get it. He wants the USA to fail.
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Question the board expert?
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