U.S. oil floods Europe, hurting OPEC and Russia

[longknife]

I don't know that much about the oil industry but this seems to be pretty good news to me. One little item buried in the stury is that American crude is gaining favor over North Sea crude from Europe's own back yard.

In January-April, U.S. supplies jumped four-fold year-on-year to 6.8 million tonnes, or 68 large Aframax tankers, according to the same data.

Trade sources said U.S. flows to Europe would keep rising, with U.S. barrels increasingly finding homes in foreign refineries, often at the expense of oil from OPEC or Russia.

In 2017, Europe took roughly 7 percent of U.S. crude exports, Reuters data showed, but the proportion has already risen to roughly 12 percent this year.

More @ Trump’s revenge: U.S. oil floods Europe, hurting OPEC and Russia | One America News Network

 

[william the wie]

It's not just the US, Bahrain and probably Israel are also delivering massive surprises on the upside. Fossil fuels are easy to find and probably easy to synthesize but the infrastructure to get it safely to the market is a nightmare. Brazil may have as much oil reserves as the lower 48 before the first well was drilled in PA but ethanol is much cheaper than crude down there. For that matter if HMD is ever properly funded odds are it will be cheaper than fusion.

 

[initforme]

If we have enough oil to ship overseas then our had prices should be dropping......Americans were lied to again.....big oil. Lies lied lies. We are producing more oil and that oil will be staying here. Yeah sure.

 

[longknife]

If we have enough oil to ship overseas then our had prices should be dropping......Americans were lied to again.....big oil. Lies lied lies. We are producing more oil and that oil will be staying here. Yeah sure.

I'm going to try to explain this as simply as possible so you just MIGHT understand it.

Our fuel costs depend upon the infrastructure of refining it and transporting it to the points of distribution. We have not had a new refinery in decades and our current ones have reached their maximum.

The second thing that affects cost is TAXES! Every time the price goes down, political hacks complain about the loss of revenue and raise the taxes. That keeps fuel costs at an artificial level. Do you think they reduce those taxes when the price goes up?

 

[Bleipriester]

I don't know that much about the oil industry but this seems to be pretty good news to me. One little item buried in the stury is that American crude is gaining favor over North Sea crude from Europe's own back yard.

In January-April, U.S. supplies jumped four-fold year-on-year to 6.8 million tonnes, or 68 large Aframax tankers, according to the same data.

Trade sources said U.S. flows to Europe would keep rising, with U.S. barrels increasingly finding homes in foreign refineries, often at the expense of oil from OPEC or Russia.

In 2017, Europe took roughly 7 percent of U.S. crude exports, Reuters data showed, but the proportion has already risen to roughly 12 percent this year.

More @ Trump’s revenge: U.S. oil floods Europe, hurting OPEC and Russia | One America News Network

We shouldn´t make any business with your regime. We are better off without that thug pointing the gun at our chest.

 

[william the wie]

If we have enough oil to ship overseas then our had prices should be dropping......Americans were lied to again.....big oil. Lies lied lies. We are producing more oil and that oil will be staying here. Yeah sure.

I'm going to try to explain this as simply as possible so you just MIGHT understand it.

Our fuel costs depend upon the infrastructure of refining it and transporting it to the points of distribution. We have not had a new refinery in decades and our current ones have reached their maximum.

The second thing that affects cost is TAXES! Every time the price goes down, political hacks complain about the loss of revenue and raise the taxes. That keeps fuel costs at an artificial level. Do you think they reduce those taxes when the price goes up?

diesel and LNG require minimal refining and can substitute for gas but CA prevents that from being the way we go nationwide which is a bigger factor.