Crude oil is $86 today.... beginning of the end?

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[TD][/TD]
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[TR]
[TD][/TD]
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[TR]
[TD="class: Title1, bgcolor: #ffffff, align: center"]U.S. Net Imports of Crude Oil and Petroleum Products (Thousand Barrels per Day)[/TD]
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[TD][/TD]
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[TH="class: G2"]Decade[/TH]
[TH="class: G"]Year-0[/TH]
[TH="class: G"]Year-1[/TH]
[TH="class: G"]Year-2[/TH]
[TH="class: G"]Year-3[/TH]
[TH="class: G"]Year-4[/TH]
[TH="class: G"]Year-5[/TH]
[TH="class: G"]Year-6[/TH]
[TH="class: G"]Year-7[/TH]
[TH="class: G"]Year-8[/TH]
[TH="class: G"]Year-9[/TH]
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[TABLE="class: FloatTitle, width: 675"]
[TR="bgcolor: #993333"]
[TH="class: G2"]Decade[/TH]
[TH="class: G"]Year-0[/TH]
[TH="class: G"]Year-1[/TH]
[TH="class: G"]Year-2[/TH]
[TH="class: G"]Year-3[/TH]
[TH="class: G"]Year-4[/TH]
[TH="class: G"]Year-5[/TH]
[TH="class: G"]Year-6[/TH]
[TH="class: G"]Year-7[/TH]
[TH="class: G"]Year-8[/TH]
[TH="class: G"]Year-9[/TH]
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[TD="class: B4"] 1970's[/TD]
[TD="class: B3"][/TD]
[TD="class: B3"][/TD]
[TD="class: B3"][/TD]
[TD="class: B3"]6,025[/TD]
[TD="class: B3"]5,892[/TD]
[TD="class: B3"]5,846[/TD]
[TD="class: B3"]7,090[/TD]
[TD="class: B3"]8,565[/TD]
[TD="class: B3"]8,002[/TD]
[TD="class: B3"]7,985[/TD]
[/TR]
[TR]
[TD="class: B4"] 1980's[/TD]
[TD="class: B3"]6,365[/TD]
[TD="class: B3"]5,401[/TD]
[TD="class: B3"]4,298[/TD]
[TD="class: B3"]4,312[/TD]
[TD="class: B3"]4,715[/TD]
[TD="class: B3"]4,286[/TD]
[TD="class: B3"]5,439[/TD]
[TD="class: B3"]5,914[/TD]
[TD="class: B3"]6,587[/TD]
[TD="class: B3"]7,202[/TD]
[/TR]
[TR]
[TD="class: B4"] 1990's[/TD]
[TD="class: B3"]7,161[/TD]
[TD="class: B3"]6,626[/TD]
[TD="class: B3"]6,938[/TD]
[TD="class: B3"]7,618[/TD]
[TD="class: B3"]8,054[/TD]
[TD="class: B3"]7,886[/TD]
[TD="class: B3"]8,498[/TD]
[TD="class: B3"]9,158[/TD]
[TD="class: B3"]9,764[/TD]
[TD="class: B3"]9,912[/TD]
[/TR]
[TR]
[TD="class: B4"] 2000's[/TD]
[TD="class: B3"]10,419[/TD]
[TD="class: B3"]10,900[/TD]
[TD="class: B3"]10,546[/TD]
[TD="class: B3"]11,238[/TD]
[TD="class: B3"]12,097[/TD]
[TD="class: B3"]12,549[/TD]
[TD="class: B3"]12,390[/TD]
[TD="class: B3"]12,036[/TD]
[TD="class: B3"]11,114[/TD]
[TD="class: B3"]9,667[/TD]
[/TR]
[TR]
[TD="class: B4"] 2010's[/TD]
[TD="class: B3"]9,441[/TD]
[TD="class: B3"]8,450[/TD]
[TD="class: B3"]7,393[/TD]
[TD="class: B3"]6,237 [/TD]
[TD="class: B3"][/TD]
[TD="class: B3"][/TD]
[TD="class: B3"][/TD]
[TD="class: B3"][/TD]
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Ask your local refinery how easy it is to substitute crude oils. The Chevron refinery here imports Saudi heavy crude because that's the feedstock it requires to produce profitable products. They can't substitute this with light sweet from ND or TX without hundred of millions of dollars of retrofitting. I can give you lots of other examples because oil is not as fungible as the media would have you believe.

 

The definition you are referring to says that other fungible commodities include "sweet crude oil".

 

You may be right, this is the first I've looked at it. We should go back to how this started. One guy said he was glad gas prices are low and he got attacked.

If all you want is export restrictions lifted, I have no problem with that.

Oh why not, I'll go ahead and stick my neck out there...as far as I'm concerned, you can say a lot of things about the US military but "defense" is not the way it is being used. So, I don't care if we export crude oil.

You aren't asking for import tariffs which provide an advantage to the oil and gas industries that other industries would also like- because it makes those industries richer. You aren't asking for that so we're good, there.

We don't have an argument.

 

boy now there is an illogical leap... about something I have never said...I have never said I am for tarriffs... you made that leap in your mind.

Federal law says we can not export crude oil....: Crude oil exports are restricted to: (1) crude oil derived from fields under the State waters of Alaska's Cook Inlet; (2) Alaskan North Slope crude oil; (3) certain domestically produced crude oil destined for Canada; (4) shipments to U.S. territories; and (5) California crude oil to Pacific Rim countries.
http://www.eia.gov
http://www.law.cornell.edu/cfr/text/15/754.2

The ONLY sector that has shown a net gain in employment since the recession started is the OIL and gas industry... no other sector has even reached the level of employment from before... yes they all matter, but they are not growing, and are totally dependent upon the one sector that is growing.

Your knowledge of crude is lacking... refineries are built to refine and distill certain types of crude. They can not refine all crude.. What is defined as sweet texas intermediate crude regardless of field can be refined by any refinery set up for STI. Crude oil is NOT fungible. ask any refinery.

Because the US can NOT export crude, the world market for crude is artificially high.

You blow off the bond market, but when that fails, it will bring down some banks again...

When we import oil we send US dollars to other countries, where we do NOT get the benefit of the 7 times of the dollar rippling through the local economy.

Yes I can and am arguing that the total economy is HURT by artificially lower crude oil prices, and this time it will be harsh and long since NO other sector of the economy has shown any growth over the past 6 years. And most of that growth in the oil industry has been despite the federal government controls.

 

And they would be using heavy canadian crude if they could get their hands on it.

 

Then we just do not have an argument, all that is left are a few details. Anyone should be free to cheer that we have low gas prices (unless they are against economic warfare, as I am) and they shouldn't be attacked. And, I'm not even attacking anyone.

Interdependent, anyway. Those oilfield workers, they want and need their trucks and houses and RVs and steaks and roads and doctors and, and, and...

As with many things, my knowledge of crude is lacking. Refineries don't have mouths so it would be hard to ask one. Instead, I've searched for business articles. Feel free to link more credible information if you have it.

The US has about 14% of the world market share but USES MORE THAN IT PRODUCES. The more we export, the more we import. Exporting oil probably would have a small impact on world prices, but it would raise refining costs and reduce our market share of refined products. Fine, but not a big deal.

I mortgaged my house and bought silver. None of this is germane to our conversation.

Correct, though I'm not sure what your point is. You're the one who wants to send more of our oil abroad forcing us to import more.

You aren't arguing for tariffs on imports. You want us to be able to export oil. I've posted data, anyone reading the data can see this threat of "artificially lower crude oil prices", it really doesn't exist.

 

The oil business is robbing every other business and making prices go up for all Americans that are not in the oil business. With prices down things get back to normal where many Americans are not getting robbed.

Would be nice for American if were to stay this way.

Yes I know, some will hate my opinion, for they love to live high on the hog.

 

I read veteranstoday.com and listen to some infowars, so you don't get an argument from me. The only thing I would say is that the Illuminati has their fingers in a lot more than just oil.

This is what I'm reading when I'm not posting here: http://www.veteranstoday.com/2014/12/20/very-very-bad-things/