Oil Exports Fueling Higher Domestic Prices

[Uncle Birchy]

The U.S. oil and natural gas industry long fought for and in the last decade finally won release from federal restrictions that limited exports. The ostensible reason was that because of the so-called "shale revolution" in the country's oil and gas fields, the United States would have plenty of oil and gas to spare for export. The real reason behind the push was that the oil and gas industry wanted what almost every other industry in America already had: The right to sell their products to the highest bidders no matter where they lived on the globe.

This made it almost certain that as U.S. prices rose to match world prices, U.S. consumers would feel the pain. And, since energy prices affect everyone who votes, they are always politically consequential.

U.S. Oil And Gas Exports Are Fueling Higher Domestic Prices | OilPrice.com

The U.S. commitment to free trade and free markets and the ability of U.S. companies to export oil and gas is one of the reasons it can’t control prices at home

oilprice.com

 

[Uncle Birchy]

In a Nutshell from the Gas Crisis of 1970s to 2018 American "produced" Oil was "Prohibited" from being "Exported"..

West Texas Crude and the Cushing Oklahoma prices were "Domestic" and generally 3/5% a barrel LOWER than "Brent" Crude or the "Worldwide" Market Standard..

In the Mid 2010s price of Oil "Crashed" back to $30/$40 a barrel forcing USA "SHALE" with a "Break-Even" production price of $50/$60 "co$t" of Production at that time era..

Later after the $2 bucks gas & "Bankruptcies" USA Frack Shale improved & "streamlined" methods lowering "Break-Even" co$ts to $30/4/$40 per barrel ...

2nd half of Trump Administration World Market Price of Oil has "jumped" somewhat and "Mark Levin" & Sean Hannity we're "Preaching " ENERGY INDEPENDANCE..

By 2018 Congress drafted "Passed" a Bill allowing USA PRODUCTION to be "Exported" Overseas...

That was when Gas/Diesel were still $2 some change a gallon range

 

[Uncle Birchy]

In a Nutshell from the Gas Crisis of 1970s to 2018 American "produced" Oil was "Prohibited" from being "Exported"..

West Texas Crude and the Cushing Oklahoma prices were "Domestic" and generally 3/5% a barrel LOWER than "Brent" Crude or the "Worldwide" Market Standard..

In the Mid 2010s price of Oil "Crashed" back to $30/$40 a barrel forcing USA "SHALE" with a "Break-Even" production price of $50/$60 "co$t" of Production at that time era..

Later after the $2 bucks gas & "Bankruptcies" USA Frack Shale improved & "streamlined" methods lowering "Break-Even" co$ts to $30/4/$40 per barrel ...

2nd half of Trump Administration World Market Price of Oil has "jumped" somewhat and "Mark Levin" & Sean Hannity we're "Preaching " ENERGY INDEPENDANCE..

By 2018 Congress drafted "Passed" a Bill allowing USA PRODUCTION to be "Exported" Overseas...

That was when Gas/Diesel were still $2 some change a gallon range

Since the start of Ukraine War "OUR" Oil Exports to "Europe" have jumped from a Half Million barrels today to in "excess" of UPWARDS of 1.5/2 Million Barrels "TODAY"

Sure we gotta "Help" OUR ALLIES that I "Understand"..

Yet while "Domestic" Gas/Diesel is $elling $5/$6 a GALLON at the Pump..

Prior to 2018 ya coulve "Knocked" OFF 45 upwards 60 cents per gallon under Pre-2018 or a 1970s Gas Crisis Law that back in then "Restricted" USA OIL from "Exports"..

Afew years of Cheap Oil ...Cheap Gas...

Eh let's open it up..

Problem they didn't see 5 years down the Road..

Generally most are "Short-sighted" ..

What they "SEE" Today why that's gonna always BEE

 

[Uncle Birchy]

I would also "Drive Home" that even if we went back to 1970s Law ...

That doesn't "FIX" our Domestic "REFINERY" Crisis..

Ya see ain't been a NEW "REFINERY " built in the USA since 1977 or 1980 depending upon source or weather start of construction or start of operation..

Since then let's just say year 1980...

America has roughly 1/3 "Less" operating "Refineries" or capacity as Older ones have Shutdown ..

No "Matter" the Price Per Barrel OIL PRICE..

Crude Oil is absolutely "USELESS " without "REFINERY" to cook that Raw Crude into Diesel, Gasoline, Jet Fuel and many other "Chemicals" our "MODERN" LIVES are "Dependant" Upon

 

[Uncle Birchy]

I would also "Drive Home" that even if we went back to 1970s Law ...

That doesn't "FIX" our Domestic "REFINERY" Crisis..

Ya see ain't been a NEW "REFINERY " built in the USA since 1977 or 1980 depending upon source or weather start of construction or start of operation..

Since then let's just say year 1980...

America has roughly 1/3 "Less" operating "Refineries" or capacity as Older ones have Shutdown ..

No "Matter" the Price Per Barrel OIL PRICE..

Crude Oil is absolutely "USELESS " without "REFINERY" to cook that Raw Crude into Diesel, Gasoline, Jet Fuel and many other "Chemicals" our "MODERN" LIVES are "Dependant" Upon

Forget "Production" or even "Politics"..

Unless we "Relax" Environmental Regulations..

Not a "Single" Refinery been Built in USA since 1977 or 1980..

We actually have "Lost" Refinery Capacity since Covid 2020...

Granted many those "Shutdown" Facilities not only "Inefficient" they are "Older" actually "Much Older" no longer "Comply" beyond "Waivers" program with EPA.

So they just "Shut Em Down"

I'm gonna say roughly 75 cents upwards a DOLLAR in "Pump Prices" is the "Crack Spread".

4 DUMMIES allow me to "Educate" ya..

"Refined" Oil Products have an "additional" Upwards a Buck a Gallon Price versus Raw Crude Oil Prices..

Most "average" people only watch the News & Gas Price Signs..

Now if "USA" had the # of REFINERYS back in 1970s/1980s..

Okay the "OLDIES" beyond Repair Shutdown instead of "Investment"..

How about a WASH/DC & State "Policy" that "Understands"..

Without "REFINERY" to Convert..

Crude Oil is Absolutely "Useless"..

Takes an Oil Refineries ..

Oil Refinery Industry is what takes makes "Useful" Product outta RAW CRUDE..

Do these "Mental Midgets" even "Comprehend" that without a "Refinery Industry"..

Ya might as well pump all that Crude Oil back INTO thy Ground

 

[Uncle Birchy]

Here @Mike there's "much" more than State/Federal Taxes on a Gallon..

Hope this maybe I dunno but "I" trying my "Best" here..

Yet I'm still "Named" after a "Cereal Killer"..

Ya I'm putting that "Out There" Too

 

[Uncle Birchy]

Forget "Production" or even "Politics"..

Unless we "Relax" Environmental Regulations..

Not a "Single" Refinery been Built in USA since 1977 or 1980..

We actually have "Lost" Refinery Capacity since Covid 2020...

Granted many those "Shutdown" Facilities not only "Inefficient" they are "Older" actually "Much Older" no longer "Comply" beyond "Waivers" program with EPA.

So they just "Shut Em Down"

I'm gonna say roughly 75 cents upwards a DOLLAR in "Pump Prices" is the "Crack Spread".

4 DUMMIES allow me to "Educate" ya..

"Refined" Oil Products have an "additional" Upwards a Buck a Gallon Price versus Raw Crude Oil Prices..

Most "average" people only watch the News & Gas Price Signs..

Now if "USA" had the # of REFINERYS back in 1970s/1980s..

Okay the "OLDIES" beyond Repair Shutdown instead of "Investment"..

How about a WASH/DC & State "Policy" that "Understands"..

Without "REFINERY" to Convert..

Crude Oil is Absolutely "Useless"..

Takes an Oil Refineries ..

Oil Refinery Industry is what takes makes "Useful" Product outta RAW CRUDE..

Do these "Mental Midgets" even "Comprehend" that without a "Refinery Industry"..

Ya might as well pump all that Crude Oil back INTO thy Ground

Make matters "Worse" much of our "Refinery" & Processing plants our on the "Gulf Coast".

Exposed to "Hurricanes" and Flooding

 

[Uncle Birchy]

Make matters "Worse" much of our "Refinery" & Processing plants our on the "Gulf Coast".

Exposed to "Hurricanes" and Flooding

Along the I-10 corridor from Houston east through Louisiana & Mississippi

 

[Uncle Birchy]

Along the I-10 corridor from Houston east through Louisiana & Mississippi

Now don't get me "Wrong" that's a "Natural Place" plus all the Big Ship Ports"..

Still as a "National Security" Issue I think atleast half that "Production" should be "Spread" Across the Land and "Regional" Storage Facilities..

 

[Uncle Birchy]

Now don't get me "Wrong" that's a "Natural Place" plus all the Big Ship Ports"..

Still as a "National Security" Issue I think atleast half that "Production" should be "Spread" Across the Land and "Regional" Storage Facilities..

Like my "Momma" once told my Uncle Ed..

If ya "So Smart" why don't ya "Run" for Mayor or County Board

 

[Uncle Birchy]

Like my "Momma" once told my Uncle Ed..

If ya "So Smart" why don't ya "Run" for Mayor or County Board

Okay "MOMMA" I shaddup

 

[Rigjockey]

I thought a few years back the U.S. was self sufficient in regards to oil.
I know the U.S. has enough oil in the ground to be oil independent.

G. Dubbya.. Bush was all about independency.
Obama cancelled a bunch of oil projects.
Trump was all about America first and oil independency.
Joe Biden cancelled the Keystone pipeline.

For some reason Liberals want to leave domestic oil in the ground and would rather buy terrorist blood oil.
It makes zero sense and Liberal ought to be questioning the motives for buying terrorist oil.

We have the exact same thing happening here in the Great white north, oil left in the ground and we are buying oil from our enemies.
We don't need middle east oil, we have enough of our own oil.
We could bankrupt Middle eastern countries by not buying their oil.

 

[Uncle Birchy]

I thought a few years back the U.S. was self sufficient in regards to oil.
I know the U.S. has enough oil in the ground to be oil independent.

G. Dubbya.. Bush was all about independency.
Obama cancelled a bunch of oil projects.
Trump was all about America first and oil independency.
Joe Biden cancelled the Keystone pipeline.

For some reason Liberals want to leave domestic oil in the ground and would rather buy terrorist blood oil.
It makes zero sense and Liberal ought to be questioning the motives for buying terrorist oil.

We have the exact same thing happening here in the Great white north, oil left in the ground and we are buying oil from our enemies.
We don't need middle east oil, we have enough of our own oil.
We could bankrupt Middle eastern countries by not buying their oil.

We "Have" the "Shale" Frack now at $30/$40 per barrel Production Co$t...


Now @Rigjockey here's where we "NEED" YOU and Atabashka Tar Sands .

When we put "Sanctions" on Venezuela several of our "Refineries" are MADE to Process "Heavy" Tar-Like Oil...

Originally the KEYSTONE PIPELINE was to run from Alberta Tar Sands to "Supply" these Facilities and "From" CANADA our NEIGHBOR & "ALLY" Military Pact too .

This JOE BIDEN killed the "Pipelines" and flew down to Caracas Whine & Dine "Maduro"..

Same "Maduro" Regime "Deeply" In Bed..

With China, Iran, Russia, even buys Military Gear from "North Korea"..

Same grade as "Atabasca Tar Sand" ..

But the "Elitist" ENVIRONUTS say Alberta "Tar" Sand increase GLOBAL WARMING..

Common Sense & "Foreign" Policy left WashDC 20/3O some years ago

 

[Uncle Birchy]

We "Have" the "Shale" Frack now at $30/$40 per barrel Production Co$t...


Now @Rigjockey here's where we "NEED" YOU and Atabashka Tar Sands .

When we put "Sanctions" on Venezuela several of our "Refineries" are MADE to Process "Heavy" Tar-Like Oil...

Originally the KEYSTONE PIPELINE was to run from Alberta Tar Sands to "Supply" these Facilities and "From" CANADA our NEIGHBOR & "ALLY" Military Pact too .

This JOE BIDEN killed the "Pipelines" and flew down to Caracas Whine & Dine "Maduro"..

Same "Maduro" Regime "Deeply" In Bed..

With China, Iran, Russia, even buys Military Gear from "North Korea"..

Same grade as "Atabasca Tar Sand" ..

But the "Elitist" ENVIRONUTS say Alberta "Tar" Sand increase GLOBAL WARMING..

Common Sense & "Foreign" Policy left WashDC 20/3O some years ago

I know and I have "acknowledged" CANUCKS our "Neighbors" Allies" Military Pact Too..

Why just "Why" is Joe Biden going 2 "VENEZUELA"..

OH "NAFTA" say those Pipelines came in now American Dairy Farmers got "Leverage " on Exports too .

USA we get Alberta "TAR" Oil and 3/4 Refineries making Diesel & Gasoline "Tomorrow"..

Nah Biden rather go to Caracas Venezuela...

I'm "scratching" my head hear "myself" Believe ME..

My Truckers Forum friend @Rigjockey just "WHY"

 

[Uncle Birchy]

I know and I have "acknowledged" CANUCKS our "Neighbors" Allies" Military Pact Too..

Why just "Why" is Joe Biden going 2 "VENEZUELA"..

OH "NAFTA" say those Pipelines came in now American Dairy Farmers got "Leverage " on Exports too .

USA we get Alberta "TAR" Oil and 3/4 Refineries making Diesel & Gasoline "Tomorrow"..

Nah Biden rather go to Caracas Venezuela...

I'm "scratching" my head hear "myself" Believe ME..

My Truckers Forum friend @Rigjockey just "WHY"

Our "Neighbor" 2 the North..

NAFTA Trade Treaty .

Military Protection Pact..

Why ain't we "Buying" from our Friends & Neighbors

 

[Uncle Birchy]

Since the start of Ukraine War "OUR" Oil Exports to "Europe" have jumped from a Half Million barrels today to in "excess" of UPWARDS of 1.5/2 Million Barrels "TODAY"

Sure we gotta "Help" OUR ALLIES that I "Understand"..

Yet while "Domestic" Gas/Diesel is $elling $5/$6 a GALLON at the Pump..

Prior to 2018 ya coulve "Knocked" OFF 45 upwards 60 cents per gallon under Pre-2018 or a 1970s Gas Crisis Law that back in then "Restricted" USA OIL from "Exports"..

Afew years of Cheap Oil ...Cheap Gas...

Eh let's open it up..

Problem they didn't see 5 years down the Road..

Generally most are "Short-sighted" ..

What they "SEE" Today why that's gonna always BEE

Our "Neighbor" 2 the North..

NAFTA Trade Treaty .

Military Protection Pact..

Why ain't we "Buying" from our Friends & Neighbors

Let's even go "Exports" Via Keystone & pipelines..

USA has 3/4 Refineries sitting "Idle" for lack of "Heavy" or "Tar Grade"..

Maybe part of that "Trade" ship Diesel & Gasoline back up to Canada.

But these "Environmental" Nutjobs rather suck off "Maduro" or cozy up Mullahs of Iran & Nuclear Deal "Revival"

 

[InTooDeep]

Look who got his name back