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Biden to ban Russian oil imports

BlueTex said:
How did being a net exporter help American's? We all can see how it helped OIL COMPANIES...
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Lower prices. Apparently you believe it doesn’t help Americans when gas is 2.75 versus 6 dollars.
 
Cardinal said:
8% is to the world. It’s 1-3% to the United States.

“This represented three percent of US crude oil imports and one percent of the total crude oil processed by US refineries. By contrast, the US imported 61 percent of its crude oil from Canada, 10 percent from Mexico, and six percent from Saudi Arabia in the same year.”

www.aljazeera.com

How much oil does the US import from Russia?

While Russian oil makes up a small amount of US imports, sanctions could have serious knock-on effects for the economy.
www.aljazeera.com www.aljazeera.com
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A three percent loss in supply means the need to increase prices at least 15 if not 20 percent. You really don’t know how this works do you?
 
Lycanthrope said:
It's a legitimate argument.

Other than going silent on climate change, what can Biden do to convince reluctant oil companies to incentivize production?
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Going silent would help. If he has placed new restrictions on oil leases, or pipeline creation, those should be reversed.
Other than that, as the price of oil rises, the US production will ramp up when it gets to a profitable point and stay as long as that price point is met.

Long term, if we were able to be self sufficient as well as export oil/gas then we have a hand in controlling that global market. Whether we have the capacity to drive it to any real benefit, we could at least extricate ourselves from paying over and above the cost (and profit margins) of US based oil production.

To be clear, I don't know that right now the US has all the refineries it would need to refine the different levels of oil produced here.
 
BlueTex said:
LMAO... If we hadn't exported that oil, would prices have risen or fallen?
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They did fall, so I don’t know what the purpose of the hypothetical stuff is.
 
BlueTex said:
How did being a net exporter help American's? We all can see how it helped OIL COMPANIES...
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By reducing the trade deficit, creating US jobs and increasing tax revenue. The US also exports other products - should we stop that to ‘help save the planet’?
 
Rexedgar said:
Can anyone back up the Administration position that there are drilling permits approved that have not been acted on?
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But the roughly 48% of leased onshore acreage that was actually churning out crude or gas as of Sept. 30, 2020 -- the most recent data available, cited by Granholm -- represents a nearly two-decade high. It’s not unusual for federal leases to remain idle. Sometimes the tracts don’t contain enough crude to justify the investment and sometimes they are snapped up by speculators on the cheap.

So yes - there are permits that have not been acted on, but this is not unusual.

www.bloomberg.com

Who’s to Blame for the Pain at the Pump? It’s Complicated

www.bloomberg.com www.bloomberg.com
 
I mean we all know Trump is right, but it’s amazing how right he is.

 
Better late than never I suppose.
 
EMNofSeattle said:
A three percent loss in supply means the need to increase prices at least 15 if not 20 percent. You really don’t know how this works do you?
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How does one get to be an internet ”expert” on all topics?
 
EMNofSeattle said:
They did fall, so I don’t know what the purpose of the hypothetical stuff is.
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If the oil had not been exported, would the supply in the US increase? What happens to prices when supply exceeds demands? Are you under the impression that oil companies like low prices for crude oil?
 
ttwtt78640 said:
Not necessarily bad, but certainly leading from behind. The question is what (if anything) Biden plans to do about replacing Russian oil imports.
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His people have been meeting with oil producing countries in an attempt to get them to increase production. Perhaps he's had some luck with this and is why he made his decision.
 
ttwtt78640 said:
By reducing the trade deficit, creating US jobs and increasing tax revenue. The US also exports other products - should we stop that to ‘help save the planet’?
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Again, this does NOTHING for the person filling up their gas tank.. We can ALL see how it helped oil companies...
 
BlueTex said:
Again, this does NOTHING for the person filling up their gas tank.. We can ALL see how it helped oil companies...
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^^^
Left wingers are in full panic mode because they know that they can’t fortify the election this year enough to steal it like last and they’re going to get steamrolled, instead of giving up their agenda and trying to help working Americans they’re going to start playing these stupid overly complex word games to try to BS people who know full well gas war affordable under Trump and breaking their bank under Biden
 
The AntiDonald said:
His people have been meeting with oil producing countries in an attempt to get them to increase production. Perhaps he's had some luck with this and is why he made his decision.
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We may find out soon.
 
EMNofSeattle said:
^^^
Left wingers are in full panic mode because they know that they can’t fortify the election this year enough to steal it like last and they’re going to get steamrolled, instead of giving up their agenda and trying to help working Americans they’re going to start playing these stupid overly complex word games to try to BS people who know full well gas war affordable under Trump and breaking their bank under Biden
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LOL... And the right is showing their true colors... They don't give a shit about the average American filling up their tank... They pissed and whined for 40 years at the behest of oil companies to remove the ban on crude oil exports.. All kinds of promises were made that were, of course, just bullshit to open up US crude oil to the global market. Now that the global market is not working out so well they are rushing to blame anyone but their own policies...
 
Cope said:
If we aren't importing oil, then technically we wouldn't be at the whim of oil pricing as a commodity.
Whether that works out in practice is up for grabs.
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We would continue to import oil, as we do not produce all the types of oil needed for US energy needs.
 
BlueTex said:
LOL... And the right is showing their true colors... They don't give a shit about the average American filling up their tank... They pissed and whined for 40 years at the behest of oil companies to remove the ban on crude oil exports.. All kinds of promises were made that were, of course, just bullshit to open up US crude oil to the global market. Now that the global market is not working out so well they are rushing to blame anyone but their own policies...
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Donald Trump 2.50

Joe Biden 6 dollars.

Keep screaming this nonsense. No one believes you.
 
rahl said:
We would continue to import oil, as we do not produce all the types of oil needed for US energy needs.
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Yep, just as we will continue to import agricultural products, as we do not produce all the types of agricultural products fto meet US needs.
 
highroller said:
Donald Trump sucked Putin's **** so you could have cheap gas. What a saint? ¯\_(ツ)_/¯
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There’s a lot of leftists who seem obsessed with Putin’s unit, I don’t think that’s healthy
 
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