Biden to Import Venezuelan Oil to Meet US Demand – President Trump’s Energy Independence Policies Will Continue to be Ignored

[LeftofLeft]

Oil company profit margins have remained the same for decades at 7%.

The US has the highest lift costs in the world and no economies of scale. Most US wells produce fewer than 50 barrels a day.

You want cheap gasoline.. That will put a stop to investment in exploration and drilling.

If the ppb goes too low, they go out of business.

All domestic oil companies go out of business??

 

[surada]

The argument is not about Trump or the absolute absence of importing oil.

We imported more oil during Trump's presidency until 2020 when demand went negative.

 

[surada]

All domestic oil companies go out of business??

Not if the ppb hits the sweet spot. However, during Trump's last year in office over 200 oil companies shut down.

Watch the OPEC price basket. The US tends to be a dollar higher.

 

[Moonglow]

Trade that is unnecessary

you didn't care when it happened during Trump, so..

 

[Toddsterpatriot]

We imported more oil during Trump's presidency until 2020 when demand went negative.

Demand is never negative.

 

[task0778]

I am told Venezuelan oil is very dirty oil that pollutes more than our own.

"Most of Venezuela’s petroleum reserves, as much as 77% or possibly more, are composed of the extra-heavy and heavy crude oil found in the Orinoco Belt in the East Venezuela Basin. That heavy and extra-heavy crude oil, most of which is very sour and has an API gravity of 10 degrees or less, is highly carbon-intensive to extract and refine."

Venezuela’s oil reserves doomed to become the world’s largest stranded asset - Stabroek News

By Matthew Smith for Oilprice.com The aggressive push to decarbonize the world economy is forcing big oil to examine how the carbon emissions of its

www.stabroeknews.com

Why aren't the enviros all upset about this?

 

[LeftofLeft]

Not if the ppb hits the sweet spot. However, during Trump's last year in office over 200 oil companies shut down.

Watch the OPEC price basket. The US tends to be a dollar higher.

Many oil companies shut down during Trump yet the average price of gasoline throughout his term and Bush’s two terms were lower than Obama’s two terms and Biden’s one term. Bush and Trump have better regulatory policies towards oil companies than do Obama and Biden. My bet is that if Harris is President, the average price of gas will be higher in her term vs. Bush and Trump.

Back to 200 oil companies shutting down during Trump, too many entrants in the market and them shutting down did not correlate to higher prices.

 

[tahuyaman]

You're an idiot.

You have no room to talk.

 

[tahuyaman]

Dumbass, I am just waiting for you to post Trump's energy policy. We are 12 pages in and all you keep doing is running that DS.

That was already done you stupid shit-stick.

 

[surada]

Demand is never negative.

Demand went negative about April and May of 2020.

 

[surada]

That was already done you stupid shit-stick.

Trump has no energy policy. He knows nothing about the oil business. Be wary of his lies.

 

[Yarddog]

I am told Venezuelan oil is very dirty oil that pollutes more than our own.

"Most of Venezuela’s petroleum reserves, as much as 77% or possibly more, are composed of the extra-heavy and heavy crude oil found in the Orinoco Belt in the East Venezuela Basin. That heavy and extra-heavy crude oil, most of which is very sour and has an API gravity of 10 degrees or less, is highly carbon-intensive to extract and refine."

Venezuela’s oil reserves doomed to become the world’s largest stranded asset - Stabroek News

By Matthew Smith for Oilprice.com The aggressive push to decarbonize the world economy is forcing big oil to examine how the carbon emissions of its

www.stabroeknews.com

Why aren't the enviros all upset about this?

We imported more oil during Trump's presidency until 2020 when demand went negative.

We have a shortage of refineries and many of the ones we do have are only set up for refining the dirty crude that we get from overseas for our own fuel production.
The sweet crude that we drill for here which is even cleaner, we are unable to refine in most of our refineries, thus we have to import more. We were probably importing more because the price was Down.
Trump also refilled our strategic oil supply.. Biden then used it all up. How about we build some more oil refineries that are capapble of refining our own crude oil?

 

[task0778]

Trump has no energy policy. He knows nothing about the oil business. Be wary of his lies.

Well, we sure as hell know what the democrat's energy policy is: put 'em all out of business.

 

[Toddsterpatriot]

Demand went negative about April and May of 2020.

Demand is never negative. Not even a little bit.

 

[tahuyaman]

Trump has no energy policy. He knows nothing about the oil business. Be wary of his lies.

Why do you idiots keep repeating that dumb shit? Are you guys just too stupid?

 

[tahuyaman]

Demand is never negative. Not even a little bit.

During the COVID lockdowns demand decreased. Demand rises and declines over the course of a year. Typically during the summer travel season demand rises.

 

[Toddsterpatriot]

During the COVID lockdowns demand decreased. Demand rises and declines over the course of a year. Typically during the summer travel season demand rises.

Yes.

And demand may be zero, but demand is never negative.

 

[Superbadbrutha]

That doesn’t change US dependence on foreign oil. Do you want them to stay dropped or do you want the price of gas to be determined by foreign markets?

We have always depended on foreign oil.

 

[Superbadbrutha]

Trump has no energy policy. He knows nothing about the oil business. Be wary of his lies.

That dumbass idiot is just running that DS.

 

[LeftofLeft]

We have always depended on foreign oil.

And? You think that is a good thing?