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U.S. Becomes Net Oil Exporter

General discussions of the systemic, societal and civilisational effects of depletion.

U.S. Becomes Net Oil Exporter

Unread postby Pops » Fri 07 Dec 2018, 14:01:34

Never say never
In the week to November 30, however, the weekly U.S. net imports of crude oil and petroleum products were at minus 211,000 bpd—meaning that the U.S. was a net exporter of that amount, according to data from the EIA.

https://oilprice.com/Energy/Crude-Oil/U ... Years.html
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Re: U.S. Becomes Net Oil Exporter

Unread postby asg70 » Fri 07 Dec 2018, 15:46:41

Image

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Re: U.S. Becomes Net Oil Exporter

Unread postby rockdoc123 » Fri 07 Dec 2018, 15:53:28

MY GOD! Is that Pokey? Did those Star Wars clone troopers kill Pokey? NOOOOOOOO! :shock: :(
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Re: U.S. Becomes Net Oil Exporter

Unread postby Outcast_Searcher » Fri 07 Dec 2018, 16:26:46

rockdoc123 wrote:MY GOD! Is that Pokey? Did those Star Wars clone troopers kill Pokey? NOOOOOOOO! :shock: :(

My ideas about toy memes are SO confused! :lol:
Given the track record of the perma-doomer blogs, I wouldn't bet a fast crash doomer's money on their predictions.
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Re: U.S. Becomes Net Oil Exporter

Unread postby asg70 » Fri 07 Dec 2018, 18:11:15

pstarr wrote:WE ARE NOT A CRUDE OIL NET EXPORTER.


And why not? Because it would upset your doomer sensibilities?

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Re: U.S. Becomes Net Oil Exporter

Unread postby onlooker » Fri 07 Dec 2018, 18:41:59

asg70 wrote:
pstarr wrote:WE ARE NOT A CRUDE OIL NET EXPORTER.


And why not? Because it would upset your doomer sensibilities?

Image

In 2017, the United States imported approximately 10.14 million barrels per day (MMb/d) of petroleum from about 84 countries. Petroleum includes crude oil, hydrocarbon gas liquids, refined petroleum products such as gasoline and diesel fuel, and biofuels including ethanol and biodiesel. Crude oil accounted for about 79% of U.S. gross petroleum imports in 2017 and non-crude oil petroleum accounted for about 21% of gross petroleum imports.

In 2017, the United States exported about 6.38 MMb/d of petroleum to 186 countries, of which about 18% was crude oil and 82% was non-crude oil petroleum. The resulting net imports (imports minus exports) of petroleum were about 3.77 MMb/d.

So just Petroleum we are still net importer. The OP article refers to finished products like gas etc also

https://www.eia.gov/tools/faqs/faq.php?id=727&t=6
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Re: U.S. Becomes Net Oil Exporter

Unread postby Cog » Fri 07 Dec 2018, 18:50:16

We are using our excess refining capacity to make money. I'm ok with that.

Doomsday just keeps receding into that horizon. Just like 20 years from now we will have fusion.
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Re: U.S. Becomes Net Oil Exporter

Unread postby Ibon » Fri 07 Dec 2018, 19:04:28

pstarr wrote:So are your ideas re peak oil.

WE ARE NOT A CRUDE OIL NET EXPORTER. The article is sheeple fodder.


What happens to the relevancy of a concept when even the sheeple no longer even consider it fodder?
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Re: U.S. Becomes Net Oil Exporter

Unread postby rockdoc123 » Fri 07 Dec 2018, 20:07:32

American Petroleum Institute is a chickensh@t arm of the oil and consumer-products industry. EIA and it running dog scum API in the media want us to shop and not worry.

Sheeple buy the crap, nuzzle the crap with their pie holes and repeat endlessly . . . everything is honkey doory (whatever that means ???? honky doorry? lol)


well that is a typical Starving Lion, drool all over your keyboard, post. Really demonstrates a level of intelligence there. :roll:

Exactly where do you propose the export and import numbers should come from? Some dodgy Goldbug blog no doubt. :roll:

Bit like the kid who doesn't like the way the game is going so he grabs his football and takes it home, you don't like the actual data so you will claim its all wrong (with no proof or other data to the contrary) in order to feel justified in ignoring it allowing you to continue on posting opinionated nonsense.
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Re: U.S. Becomes Net Oil Exporter

Unread postby Pops » Fri 07 Dec 2018, 20:54:59

lol, I was no math whiz but this is pretty self-explanatory

Image


The relevance of course is not the number (which is a ways from negative on average) but the refuting of one of our fundamental PO Articles of Faith:
"once you've peaked, further growth in supply, is over."
Link

Turns out economics actually does trump geology. For a time anyway. Live and learn.

OTOH, isn't LTO kinda the ultimate argument for PO?
i.e., If there were herds of elephants, would we be scrabbling for grubs?


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http://crudeoilpeak.info/wp-content/upl ... an2018.jpg
http://crudeoilpeak.info/latest-graphs
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Re: U.S. Becomes Net Oil Exporter

Unread postby StarvingLion » Fri 07 Dec 2018, 21:27:36

The Price of Gold does not believe in the Shale Story. Its still trending upwards ever since the Prudhoe Bay Gas Tank gauge went to Low indicator.

GE hit new lows today. Its almost at the abyss (below $5).

GM tanking hard. Its the next collapse people. Canny save it.

BMW stock at a 5 year low.

The currency will soon be totally worthless.

The only solution is doubling Middle East Oil Production and they have no self-interest in doing so.

Therefore, the only solution is the invention of The Flying Saucer powered by the Aether in order to force much higher middle east production. The F-35 Flop is worthless junk and UAV's powered by batteries and fuel cells will never work when the useless windmills have a 5 month lull.

You have 2 years to produce a working design of a Flying Saucer powered by nothing in front of

Judge Roland Freisler or you'll hear the words "Take him away"....
Last edited by StarvingLion on Fri 07 Dec 2018, 21:39:10, edited 3 times in total.
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Re: U.S. Becomes Net Oil Exporter

Unread postby diemos » Fri 07 Dec 2018, 21:29:03

Odd.

The actual eia website says we're still importing a net 7 million barrels of oil a day.
https://www.eia.gov/petroleum/weekly/cr ... on-imports
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Re: U.S. Becomes Net Oil Exporter

Unread postby StarvingLion » Fri 07 Dec 2018, 21:35:56

When will rockdoc admit that Oil Capital went broke in 2008 and that Manufacturing Capital was tossed into the bonfire until now. There is nothing left now except currency collapse.

The Stupidagon is broke and can't afford another Iraq adventure pissing 100 million gallons of jet fuel dodging SAMs and 1000 damaged Abrams tanks drving on IED's and KSA-Iran-Iraq is all thats left to massively increase oil production. Another military adventure would cause a famine. There is no supply chain left.

The Establishment Physicists are bankrupt with their retarded Mathematical Physics oxymoron. The Bourbaki Mathematical Masturbators of France are broke.
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Re: U.S. Becomes Net Oil Exporter

Unread postby rockdoc123 » Fri 07 Dec 2018, 22:23:57

When will rockdoc admit that Oil Capital went broke in 2008 and that Manufacturing Capital was tossed into the bonfire until now.


I guess if it actually happened I would be right there willing to say ...there it is. Unfortunately, it didn't. And the drool on your keyboard is probably keeping you from looking at the financial reports from all of those oil companies. :roll:
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Re: U.S. Becomes Net Oil Exporter

Unread postby Pops » Fri 07 Dec 2018, 23:16:14

diemos wrote:Odd.

The actual eia website says we're still importing a net 7 million barrels of oil a day.
https://www.eia.gov/petroleum/weekly/cr ... on-imports


Actually your page says we imported 7.6mmb/d week ending 11/16
— not the same as "net"

The story is about the week ending 11/30
total Imports 8,800mb/d
total exports over 9,000mb/d
"net imports" -200mb/d
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