Russian oil imports?

[ripvanwinkle]

Someone help me out. I don't quite get this. Why are we importing 236 million of barrels of oil from Russia when we were exporting more oil we could use? I read this about Russian oil exports - www.msn.com/EN-US/news/markets/how-much-oil-does-the-us-import-from-russia/ar-AATW9fE?ocid=uxbndlbing.

"Across 2021 the US imported between 12 million as 26 million barrels of crude oil and petroleum from Russia every month. In November 2021, the most recent figures on record, the Energy Information Agency reports that the US took 17.8 million barrels".

I thought we had plenty of oil. Why is the administration asking OPEC to increase their output? Why don't we increase out output to meet our demand?

[billisonboard]

Happy to help. Here is an article that provides some good information: Russia Captures No. 2 Rank Among Foreign Oil Suppliers to U.S.

[ripvanwinkle]

Feb 21, 2022 22:26:57 GMT -5 billisonboard said:

Happy to help. Here is an article that provides some good information: Russia Captures No. 2 Rank Among Foreign Oil Suppliers to U.S.

That's interesting. Thanks. I didn't realize there were other types of oil the US refiners liked. If we sanction Russia on this Ukraine thing, does that mean doom for US refineries?

[djAdvocate]

oil is having a very impressive rally.


oilprice.com/oil-price-charts/



at these levels, even crappy tarsands oil is pretty lucrative.  and there is more of it in the US and Canada than there is in the Middle East.  and it takes MASSIVE refining.

thinking this is a nothingburger, overall.

[djAdvocate]

Suncor has 10BBL of reserves.  it is doing quite well, with a PE of 9 and a 5% dividend:


bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=SU&insttype=Stock

[Tennesseer]

Ukraine related article.

Germany puts a stop to Nord Stream 2, a key Russian natural gas pipeline.

Germany halted certification of the pipeline linking the country to Russia in response to the Kremlin’s recognition of two separatist regions in Ukraine.

Chancellor Olaf Scholz said on Tuesday that Germany would halt certification of the Nord Stream 2 natural gas pipeline that would link his country with Russia, one of the strongest moves yet by the West to punish the Kremlin for recognizing two separatist regions in Ukraine.

The German leader’s announcement came hours after President Vladimir V. Putin of Russia ordered armed forces to the separatist regions, the so-called Donetsk and Luhansk People’s Republics.

Germany’s allies in Europe and the United States had been pressing Mr. Scholz for weeks to state publicly that the $11 billion pipeline, which was completed late last year and runs from Russia’s coast to northern Germany under the Baltic Sea, would be at risk of being blocked in the event of a Russian move against Ukraine.

“The situation today is fundamentally different,” Mr. Scholz told reporters in Berlin. “That is why we must re-evaluate this situation, in view of the latest developments. By the way, that includes Nord Stream 2.”

Complete article here:  Germany puts a stop to Nord Stream 2, a key Russian natural gas pipeline.

[ripvanwinkle]

Ok, now that Russia has invaded Ukraine, its time to stop importing Russian oil completely and cut off Putin ability to use the SWIFT Banking system. I understand back in 2012 we lobbied the SWIFT bank to cut off Iran. I watched a little bit of the Biden press conference today and Biden said he's will see after 30 days what the sanctions produce. This will increase oil/gas prices for now.

I filled up my car last week and I paid $3.59 gal. I saw the price on my way home was $3.98 gal. I see it going a lot higher in the next few weeks or months. If Biden wants to curb the gas prices he should reverse his edict he did on his 1st day in office on stopping all gas and oil drilling and exploration on federal lands and the Keystone pipe line. Yes I understand that's oil in the ground not in storage tanks but we need to get it going. Stop listening to the greenies and make us a major exporter of oil and gas again like we were.

[djAdvocate]

i'm personally more concerned about Palladium.  Russia has 35% of the global market.
my concern translated to scooping up shares in Palladium miners this week.

[dondub]

Feb 24, 2022 23:27:14 GMT -5 ripvanwinkle said:

Ok, now that Russia has invaded Ukraine, its time to stop importing Russian oil completely and cut off Putin ability to use the SWIFT Banking system. I understand back in 2012 we lobbied the SWIFT bank to cut off Iran. I watched a little bit of the Biden press conference today and Biden said he's will see after 30 days what the sanctions produce. This will increase oil/gas prices for now.

I filled up my car last week and I paid $3.59 gal. I saw the price on my way home was $3.98 gal. I see it going a lot higher in the next few weeks or months. If Biden wants to curb the gas prices he should reverse his edict he did on his 1st day in office on stopping all gas and oil drilling and exploration on federal lands and the Keystone pipe line. Yes I understand that's oil in the ground not in storage tanks but we need to get it going. Stop listening to the greenies and make us a major exporter of oil and gas again like we were.

Even mentioning Keystone indicates a lack of education. That’s Canadian, will plug up US refineries, snd might even raise gas prices here. And what greenies other than the greenbackadollar greed heads in the oil and gas industry. This is the umpteenth crisis they have engineered and usually with a demo potus. So if you want lower gas prices STOP exporting and flood our market. As if...

[Opti]

Feb 24, 2022 23:27:14 GMT -5 ripvanwinkle said:

Ok, now that Russia has invaded Ukraine, its time to stop importing Russian oil completely and cut off Putin ability to use the SWIFT Banking system. I understand back in 2012 we lobbied the SWIFT bank to cut off Iran. I watched a little bit of the Biden press conference today and Biden said he's will see after 30 days what the sanctions produce. This will increase oil/gas prices for now.

I filled up my car last week and I paid $3.59 gal. I saw the price on my way home was $3.98 gal. I see it going a lot higher in the next few weeks or months. If Biden wants to curb the gas prices he should reverse his edict he did on his 1st day in office on stopping all gas and oil drilling and exploration on federal lands and the Keystone pipe line. Yes I understand that's oil in the ground not in storage tanks but we need to get it going. Stop listening to the greenies and make us a major exporter of oil and gas again like we were.

Do you not realize this is capitalism at work? Sellers of gas pricing in the conflict now, instead of waiting? Seeing what the market will bear and anticipating how it will portend for future gas shipments?

Bueller?

The entire planet is going to renewable energy, and self-driving cars.     Check out the latest issue of Motor Trend.

[pulmonarymd]

It’s easier to complain than understand. Not sure where the constitution says we have a right to cheap gas.

If we kick Russia out of SWIFT, gas prices will go higher. None of rip’s plans will prevent that outcome

[mroped]

There is plenty of oil to go around right here but as a free market goes, the oil companies are allowed to sell it to the highest bidder and name their price at the pump.
What could we do against it? Walk?😂
Just remember that some douche bag raised the prices on insulin- a necessary drug for many to survive- and he just made good money. Gas is not THAT necessary! Start walking!

[Lizard Queen]

My husband works for a fuel distributor.  All kinds of orders have been coming in since the war started. Guess everyone is topping off their tanks, worried about shortages &/or increasing prices. I think there was a local shortage of diesel yesterday.  He was telling me as I was working on other things, so I wasn't paying that close attention to what he was saying. 

[djAdvocate]

Feb 25, 2022 7:53:20 GMT -5 pulmonarymd said:

It’s easier to complain than understand. Not sure where the constitution says we have a right to cheap gas.

If we kick Russia out of SWIFT, gas prices will go higher. None of rip’s plans will prevent that outcome

THANKS TO OBAMA, we are self sustaining, now.
we don't actually need Russia.  or Saudi Arabia.

for a country that purports to love independence, we sure suck at getting it.

[Opti]

Feb 25, 2022 13:29:45 GMT -5 djAdvocate said:

Feb 25, 2022 7:53:20 GMT -5 pulmonarymd said:

It’s easier to complain than understand. Not sure where the constitution says we have a right to cheap gas.

If we kick Russia out of SWIFT, gas prices will go higher. None of rip’s plans will prevent that outcome

THANKS TO OBAMA, we are self sustaining, now.
we don't actually need Russia.  or Saudi Arabia.

for a country that purports to love independence, we sure suck at getting it.

Exactly. It is other countries that need Russia. Not us. Of course, Fox New would never allow their viewers to know that unless a GOPer were President.

[Tiny]

Feb 24, 2022 23:27:14 GMT -5 ripvanwinkle said:

  Yes I understand that's oil in the ground not in storage tanks but we need to get it going. Stop listening to the greenies and make us a major exporter of oil and gas again like we were.

I know... that 7% of our oil/gas that we get from Russia   is gonna kill us....  SEVEN PERCENT!!!!  What are we gonna do there won't be enough gas for everyone's car!!   Gas prices are going to sky rocket above $5   <=== that's sarcasm. 

(fyi;  a bunch of years ago when gas prices skyrocketed  that $5.00 mark was the "OMG we're all gonna die! " amount... but that was a handful of years ago, and oh look, we're all still here driving our vehicles.   so I'm guessing $10 for a gallon of gas will be the new "OMG! We're all gonna die!!" amount )
 
What is it with Republicans making mountains out of molehills? 

[Lizard Queen]

Feb 25, 2022 13:45:13 GMT -5 Tiny said:

Feb 24, 2022 23:27:14 GMT -5 ripvanwinkle said:

  Yes I understand that's oil in the ground not in storage tanks but we need to get it going. Stop listening to the greenies and make us a major exporter of oil and gas again like we were.

I know... that 7% of our oil/gas that we get from Russia   is gonna kill us....  SEVEN PERCENT!!!!  What are we gonna do there won't be enough gas for everyone's car!!   Gas prices are going to sky rocket above $5   <=== that's sarcasm. 

(fyi;  a bunch of years ago when gas prices skyrocketed  that $5.00 mark was the "OMG we're all gonna die! " amount... but that was a handful of years ago, and oh look, we're all still here driving our vehicles.   so I'm guessing $10 for a gallon of gas will be the new "OMG! We're all gonna die!!" amount )
 
What is it with Republicans making mountains out of molehills? 

Cause their uselessly jacked up giant trucks waste too much gas when they're flying a bunch of dumbass Trump flags.

[djAdvocate]

Feb 25, 2022 13:45:13 GMT -5 Tiny said:

Feb 24, 2022 23:27:14 GMT -5 ripvanwinkle said:

  Yes I understand that's oil in the ground not in storage tanks but we need to get it going. Stop listening to the greenies and make us a major exporter of oil and gas again like we were.

I know... that 7% of our oil/gas that we get from Russia   is gonna kill us....  SEVEN PERCENT!!!!  What are we gonna do there won't be enough gas for everyone's car!!   Gas prices are going to sky rocket above $5   <=== that's sarcasm. 

(fyi;  a bunch of years ago when gas prices skyrocketed  that $5.00 mark was the "OMG we're all gonna die! " amount... but that was a handful of years ago, and oh look, we're all still here driving our vehicles.   so I'm guessing $10 for a gallon of gas will be the new "OMG! We're all gonna die!!" amount )
 
What is it with Republicans making mountains out of molehills? 

ikr?

we might have to boost our domestic production or lean on Canada harder.
OH THE HUMANITY!!!!

oh wait- we could also cut our exports?
never mind.

[djAdvocate]

Feb 25, 2022 13:51:54 GMT -5 Lizard Queen said:

Feb 25, 2022 13:45:13 GMT -5 Tiny said:

I know... that 7% of our oil/gas that we get from Russia   is gonna kill us....  SEVEN PERCENT!!!!  What are we gonna do there won't be enough gas for everyone's car!!   Gas prices are going to sky rocket above $5   <=== that's sarcasm. 

(fyi;  a bunch of years ago when gas prices skyrocketed  that $5.00 mark was the "OMG we're all gonna die! " amount... but that was a handful of years ago, and oh look, we're all still here driving our vehicles.   so I'm guessing $10 for a gallon of gas will be the new "OMG! We're all gonna die!!" amount )
 
What is it with Republicans making mountains out of molehills? 

Cause their uselessly jacked up giant trucks waste too much gas when they're flying a bunch of dumbass Trump flags.

/\this

we could conserve our way out of the 7%, too.

[Opti]

www.msn.com/en-us/news/world/anger-explodes-at-germany-italy-and-hungary-over-europe-s-failure-to-cut-russia-off-from-swift-payment-network/ar-AAUi8DM?ocid=msedgntp


German Chancellor Olaf Scholz said Thursday that Russia should not yet be cut off from the SWIFT global payments system, because it is "very important" to keep such drastic measures "for a situation where it may be necessary." Italy is also reported to have opposed the measure in order to maintain some leverage over Russia's dictatorial President Vladimir Putin.

Both Germany and Italy are highly dependent on Russian natural gas, which would be difficult to pay for if Russia really were to be cut off from SWIFT; Austria has the same dilemma, and is taking a similar approach. All three of these countries also have other extensive business ties with Russia, with Italian and Austrian banks being highly exposed right now. French banks also do a lot of business in Russia, and France has also declared a SWIFT cutoff to be "the very last resort."



And then there's Hungary, whose hard-right leader Viktor Orban has long had a friendly relationship with fellow culture warrior Putin.

[Opti]

I wonder what Angela Merkel would have done had she still be in office. Somehow, I think she'd be less wussy and more concerned about global politics current and future than Olaf.

[Tiny]

Feb 25, 2022 14:14:11 GMT -5 djAdvocate said:

Feb 25, 2022 13:45:13 GMT -5 Tiny said:

I know... that 7% of our oil/gas that we get from Russia   is gonna kill us....  SEVEN PERCENT!!!!  What are we gonna do there won't be enough gas for everyone's car!!   Gas prices are going to sky rocket above $5   <=== that's sarcasm. 

(fyi;  a bunch of years ago when gas prices skyrocketed  that $5.00 mark was the "OMG we're all gonna die! " amount... but that was a handful of years ago, and oh look, we're all still here driving our vehicles.   so I'm guessing $10 for a gallon of gas will be the new "OMG! We're all gonna die!!" amount )
 
What is it with Republicans making mountains out of molehills? 

ikr?

we might have to boost our domestic production or lean on Canada harder.
OH THE HUMANITY!!!!

oh wait- we could also cut our exports?
never mind.

Or maybe we could just tough it out until even MORE people transition to electric or hybrid vehicles and we as a nation use less gas...

Or maybe we could invest more in public transportation and better designs for areas where people want to live (so they need to drive less).

(I'm ambivalent about electric or hybrid vehicles - as in get the vehicle that makes the most "functional" use for you rather than the absolutely most efficient vehicle even if it doesn't fit your "functional" use very well). And even I can see the writing on the wall that the next vehicle I buy in 2 to 5 years will most likely be hybrid (I will double my gas mileage) or electric (won't need gas). my current vehicle is 10 years old. )

[Value Buy]

Feb 25, 2022 17:18:03 GMT -5 Tiny said:

Feb 25, 2022 14:14:11 GMT -5 djAdvocate said:

ikr?

we might have to boost our domestic production or lean on Canada harder.
OH THE HUMANITY!!!!

oh wait- we could also cut our exports?
never mind.

Or maybe we could just tough it out until even MORE people transition to electric or hybrid vehicles and we as a nation use less gas...

Or maybe we could invest more in public transportation and better designs for areas where people want to live (so they need to drive less).

(I'm ambivalent about electric or hybrid vehicles - as in get the vehicle that makes the most "functional" use for you rather than the absolutely most efficient vehicle even if it doesn't fit your "functional" use very well). And even I can see the writing on the wall that the next vehicle I buy in 2 to 5 years will most likely be hybrid (I will double my gas mileage) or electric (won't need gas). my current vehicle is 10 years old. )

How many people on government support programs can afford to drive Teslas or a hybrid? Really tired of people telling people quit driving gas fueled vehicles when many people on the bottom of the social economic ladder cannot pay their electric bills now without charging their electric vehicles too. Most are not buying the most recent new car model because they can not finance the new cars as it is.

[Opti]

Feb 25, 2022 23:53:37 GMT -5 Value Buy said:

Feb 25, 2022 17:18:03 GMT -5 Tiny said:

Or maybe we could just tough it out until even MORE people transition to electric or hybrid vehicles and we as a nation use less gas...

Or maybe we could invest more in public transportation and better designs for areas where people want to live (so they need to drive less).

(I'm ambivalent about electric or hybrid vehicles - as in get the vehicle that makes the most "functional" use for you rather than the absolutely most efficient vehicle even if it doesn't fit your "functional" use very well). And even I can see the writing on the wall that the next vehicle I buy in 2 to 5 years will most likely be hybrid (I will double my gas mileage) or electric (won't need gas). my current vehicle is 10 years old. )

How many people on government support programs can afford to drive Teslas or a hybrid? Really tired of people telling people quit driving gas fueled vehicles when many people on the bottom of the social economic ladder cannot pay their electric bills now without charging their electric vehicles too. Most are not buying the most recent new car model because they can not finance the new cars as it is.

Its a 7% differential and Tiny said nothing about bottom income people buying hybrids. But you made that leap. I'm not sure how many people you know are on government support programs. As a person who now receives SS, you are one of those people. However, I think you are referring to the percentage of the population whose income is significantly from the govt, but you are excluding SS recipients and thinking only of those probably between 18 and 64.

Some of the very poor don't own vehicles and use public transportation, walk to work or bike to work. They are not going to tip the meter either way. You are not counting the working poor who do not qualify for most govt programs and if they receive any govt benefits, they receive much less than the average SS recipient. They buy used cars generally or work vehicles. Often a max of one vehicle per household. 


If you are up to it, you should check out the buying demographics. The first link is old info, from 2000 back to 1991, but general car affordability does not change wildly on income group.

www.bls.gov/cex/anthology/csxanth8.pdf


There is a sharp increase in vehicle ownership once income surpasses 50,000 U.S. dollars. The high running costs of owning a car makes it very difficult for low income earners to have their own vehicle. The annual salary of those in the lowest income group shown would not cover the cost of the average second hand car.

www.statista.com/statistics/1041177/us-car-owners-by-income-group/