Re:US Gross Domestic Product, Second Quarter 2022 (Advance E...
by jeffbee on Thursday July 28, 2022 @12:38PM
(#32266724)
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=M...
Please peddle your disinformation elsewhere.
Re:US Gross Domestic Product, Second Quarter 2022 (Advance E...
by willcipriano on Thursday July 28, 2022 @12:46PM
(#32266861)
Net exporter under Trump: https://www.bloomberg.com/news/articles/2018-12-06/u-s-becom...
Begging the Saudis under Biden: https://www.npr.org/2022/06/25/1107628743/biden-will-visit-s...
Re:US Gross Domestic Product, Second Quarter 2022 (Advance E...
by shagie on Thursday July 28, 2022 @02:00PM
(#32268000)
https://epic.uchicago.edu/news/why-do-we-import-russian-and-...
We export light sweet crude.
We don't have the refineries set up to refine that type of oil.
We import sour crude that the refineries set up to process more efficiently in the 90s (before fracking).
Saudi oil is the sour type - and so we import that and the price of Saudi oil has the biggest impact on US gas prices.
To change this around, oil companies in the US need to retool their refineries to the light sweet type that is produced domestically.
Simply put we were net oil exporters under Trump, all of the sudden we are back to begging the Saudis. Given the environmental retoric of this administration it isn't unreasonable to conclude that they had a hand in that.