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The U.S. is now a net Oil EXporter

  1. Hugh Williamson profile image87
    Hugh Williamsonposted 5 years ago

    In 2011, for the first time since 1949, the U.S. EXported more petroleum products than it imported (by 439,000 bbl per day). 2012 is also expected to be an oil surplus year, as is 2013.

    So why are we talking about unlimited drilling and accepting the associated environmental costs for this all out drilling? (Spill baby Spill). Why develop and export even more petroleum? Just to benefit big oil?

    ...and gas gets higher and higher. Something here doesn't pass the sniff test.

    http://www.businessweek.com/news/2012-0 … highlights

    1. mio cid profile image62
      mio cidposted 5 years ago in reply to this

      we are talking about it because we are paying 3.60 per gallon at the pump.so if we have oil surplus  we better get it on the market real fast  so when the election rolls around gas is under three.

      1. Hugh Williamson profile image87
        Hugh Williamsonposted 5 years ago in reply to this

        I've read that it takes 7 years, start to finish, to bring a new oilfield online, so none will be up and operating by November. Usage probably won't increase much between now and election day either.

        If gasoline prices nosedive, that will further prove that supply and demand are being circumvented and other forces determine the price at the pump.

        The quickest way to bring down the cost of gasoline may be to find out why it's as high as it is, with a surplus on hand.

        1. profile image0
          JaxsonRaineposted 5 years ago in reply to this

          It doesn't matter if we have a surplus, the global demand is what matters.

          With countries paying three times what we pay, there's a reason we are exporting.

          1. Hugh Williamson profile image87
            Hugh Williamsonposted 5 years ago in reply to this

            That begs the question of why try to increase domestic supply if it won't affect what we pay? What am I missing here?

            1. profile image0
              JaxsonRaineposted 5 years ago in reply to this

              What we need is a cap on the percentage that can be exported, and the cap can be reduced as the economy and price recover.

              We should do everything we can to increase domestic supply. It brings money into the US when we do export, it drops the price of gas at home, and it creates jobs.

              1. Hugh Williamson profile image87
                Hugh Williamsonposted 5 years ago in reply to this

                Agreed. At least, that's how it should work -- increase the supply and the price goes down.

                My concern is that there seems to be a disconnect between how much product is on hand and the price that we pay.

                It looks more like price fixing and collusion than free market capitalism.

                1. profile image0
                  JaxsonRaineposted 5 years ago in reply to this

                  The disconnect is the higher prices in foreign countries. They sell everything they can to the countries that are paying $9/gallon. If we capped that, then our supply would grow. Just because we are exporting doesn't mean we have supply.

                  1. Hugh Williamson profile image87
                    Hugh Williamsonposted 5 years ago in reply to this

                    I just saw that the Keystone XL crude oil pipeline proposal was defeated in the Senate. It isn't dead but now it's delayed. One bone of contention was whether or not the pipeline oil and products produced from the oil, could be exported.

                    That's a good question. I don't have a problem with importing oil from Canada. I'd rather see the money go to them than to the middle east but if the oil is only passing thru the U.S. on it's way overseas, the heck with the pipeline.

        2. mio cid profile image62
          mio cidposted 5 years ago in reply to this

          Both sides of the issue  have truth to it and both are lied to us about,  as many issues today this is unsolvable in the current political climate because of the polarization of the political scene where the republican party is controlled by the extreme right wing nuts and the democrats are faced with the options of either alienating their base by keeping reaching out to a party that won't take yes for an answer and be irrelevant and alienate the base, move to the left consolidate the base  talk a big game and achieve little, but alienate some independents and moderates,or move to the center alienate the base somewhat,not appeal to independents and moderates because of lack of achievement and appear weak.In any case the whole country is being held hostage by 15 to 20 million Rush Limbaugh dittoheads who at this point determine who is allowed to be relevant in the opposition party.the republican party can only be resurrected by being unequivocally defeated in the general election in november as well as losing the house and the senate.

          1. Hugh Williamson profile image87
            Hugh Williamsonposted 5 years ago in reply to this

            I tried to "follow the money' and it appears that both parties receive oodles of money from big oil but the GOP gets much more. I don't think oil would donate to either party unless they expected to benefit somehow.

            I'm not familiar with this website but assuming their numbers are accurate, it's no wonder that our energy policy is so dysfunctional.

            http://www.opensecrets.org/industries/indus.php?ind=E01

    2. profile image0
      JaxsonRaineposted 5 years ago in reply to this

      What we need is temporary restrictions on oil exports. The reason our prices are still high and we are exporting is because other countries are willing to pay more than us.

      Turkey, Norway, Greece, Monaco, Denmark, Sweden, Belgium, UK, Netherlands are all over $8/$9 per gallon.

      I don't like government intervention, but if we kept that oil here our prices would drop.

      1. John Holden profile image61
        John Holdenposted 5 years ago in reply to this

        You don't think the oil companies would jack up the price to maintain profits then?

        1. profile image0
          JaxsonRaineposted 5 years ago in reply to this

          No, all of the oil companies would have to get together to price fix. Not only would that be fairly obvious, but the damages for getting caught would be catastrophic. It would be bad business and stupid to attempt it.

          1. John Holden profile image61
            John Holdenposted 5 years ago in reply to this

            And you don't think that they already price fix!

            Tell me, why is petrol, bar a few pennies difference, all the same price?

            1. profile image0
              JaxsonRaineposted 5 years ago in reply to this

              That's called competition. Companies compete for business, so they have to try and charge the same or lower than their competitors.

              1. John Holden profile image61
                John Holdenposted 5 years ago in reply to this

                And of course nothing to do with it all coming from more or less the same source with prices fixed by commodity brokers!

                1. lovemychris profile image81
                  lovemychrisposted 5 years ago in reply to this

                  Yay Rosanne!

                  "i'm so sick of commie republicans trying 2 regulate the markets so that their own investments, not the common good of humanity will profit."

                  1. couturepopcafe profile image60
                    couturepopcafeposted 5 years ago in reply to this

                    Yeah, those damn Hollywood, commie pinkie liberals.

        2. profile image0
          JaxsonRaineposted 5 years ago in reply to this

          Besides, their profits aren't affected by price change as much as you might think. Their share of the total price per gallon is quite small.

          1. John Holden profile image61
            John Holdenposted 5 years ago in reply to this

            Doesn't matter,they'd still want to maintain profit.

    3. canadawest99 profile image61
      canadawest99posted 5 years ago in reply to this

      Thats impossible. The reason due to the economic slowdown, more crude was probably stored in salt caverns and above ground tankage during the past few years, and then now sold now that crude is nearing a peak again.  The U.S. could never legitimately produce its way to an exporter in just a few years.  The gap is probably 10 million bbls a day.

      1. Hugh Williamson profile image87
        Hugh Williamsonposted 5 years ago in reply to this

        A lot of "probably s" but let's see some specific numbers & sources.

  2. Moderndayslave profile image60
    Moderndayslaveposted 5 years ago

    Supply and demand, yeah right. Everyone is full of crap nowadays.

  3. knolyourself profile image60
    knolyourselfposted 5 years ago

    Because big oil and the banks run the whole show.

  4. Repairguy47 profile image61
    Repairguy47posted 5 years ago

    I seem to recall Obama blaming Bush/Cheny for the high cost of gas, what happened to the President being at fault? I guess its a lot like that raising the debt ceiling thing, he hated it while Bush wanted it done but thinks its a good idea when he does it. Slimy creature that guy is.

    1. Hugh Williamson profile image87
      Hugh Williamsonposted 5 years ago in reply to this

      The U.S. economy cannot recover fully with $5 per gallon gasoline. My point is that all the talk about increasing the domestic oil supply and using alternate fuels won't help if the price of energy doesn't respond to the supply. It seems that it doesn't.

      We know speculators are at least partly to blame for increasing the prices but they don't control the supply. It looks like gasoline is going to go up to some predetermined level no matter what the supply/demand is.

      Someone is gaming the system -- why aren't we investigating?

      1. Repairguy47 profile image61
        Repairguy47posted 5 years ago in reply to this

        Gee, we could put together an administration fact finding team who could come to the conclusion its the Republicans fault. roll Its not really a mystery why gas prices are high, its not a mystery why there is a 10,000 dollar rebate on the chevy volt.

    2. lovemychris profile image81
      lovemychrisposted 5 years ago in reply to this

      Wrong.

      "Does anyone remember what Obama said when gas prices shot well over $4 a gallon in 2008?  Then candidate Obama said he did not have a problem with gas being $4 a gallon or more.  His problem was the sudden, sharp rise of the price.  In other words, if the price gradually went up, he would not have a problem with it.

      I also remember the wingnuts/future tea baggers back then defending the high gas prices. We saw oil companies posting record profits and heard that they deserve it. When Congress wanted answers to the high gas prices, the right started screaming about “government intervention in the free market’. No – high gas prices were not only fine under Bush, they were championed by these same people."

      Now that Obama's prez...they want to make an issue out if it...just like birth control.

      1. Moderndayslave profile image60
        Moderndayslaveposted 5 years ago in reply to this

        Nobody seems to remember the ;"Record Profits" part

        1. lovemychris profile image81
          lovemychrisposted 5 years ago in reply to this

          It's their due as a Robber Barons. We peons do not matter ONE IOTA. Except to line their gold-rimmed pockets.
          Earth doesn't matter. People don't matter. Money matters.

          Keystone is a gift to Koch bros. Native Americans are protesting it. Who do you believe?
          They can run cars on water, electricity, hell, air if they wanted to! They keep it this way for themselves.

          Ask the united states military about clean energy...they are using it!

          http://www.good.is/post/a-list-you-don- … te-change/

          1. couturepopcafe profile image60
            couturepopcafeposted 5 years ago in reply to this

            I'm not convinced electric cars will be any better for us than gas cars. California can't keep up with their electricity usage now. Could you imagine if all those cars in California alone were running on electricity? There goes our water supply.

  5. Rambler1 profile image60
    Rambler1posted 5 years ago via iphone

    Drill Baby Drill!

    1. profile image0
      JaxsonRaineposted 5 years ago in reply to this

      There we go, you've got it.

    2. couturepopcafe profile image60
      couturepopcafeposted 5 years ago in reply to this

      I think a big part of the problem is that we don't have refining capability for the crude. If we started doing that, we could keep our own oil and gas prices would go down.

      That's assuming we get to keep our own. Unfortunately, the drillers are privately owned unlike the OPEC nations which are state owned and can sell gas at a lower price to citizens. Ours would probably still be sold overseas for a higher price and we wouldn't get a break.

      IMO, the gov. should take control of all oil sites. If they have the power to do whatever the hell they want anyway, making laws to suit, then do this and really save the economy.

  6. Evan G Rogers profile image78
    Evan G Rogersposted 5 years ago

    Why do you assume that the government can tell a private company what they can or can't do?

    The 10th Amendment exists.

    1. profile image0
      JaxsonRaineposted 5 years ago in reply to this

      I'm saying, for the oil 'surplus' we have to have an effect on the price of gas, it can't be exported. If it's exported, it's not supply.

      As for whether or not the government can, or even should do this, I really don't know.

    2. Rambler1 profile image60
      Rambler1posted 5 years ago in reply to this

      The govt needs to allow it and don't have to tell them.

 
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