$4.40
- Thread starter SHUSA
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anon_ezos2e9wn1ob0
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Seems like a small price to pay to avoid the slaughter of Ukrainian citizens.
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anon_ezos2e9wn1ob0
Guest
Except it doesn't avoid that and we are going to be headed for a recession with skyrocketing energy prices, inflation and interest rates heading up.
In 2022 I am still stunned how the US is so reliant on foreign oil with all of our resources here. But that's politics for you....
wierd ive never heard you so glued to the hundreds of other world atrocities happening every day...
Feels a little like the summer of 2008 with gas prices hitting the 4's and 5's before it all came crashing down. The economy is different today but there are plenty of risks out there.
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anon_ezos2e9wn1ob0
Guest
All a direct consequence of turning off the economy in the name of a virus, unfortunately. Some supply chains still have not caught up. Now add a regional conflict on top of that...
Well we were energy independent but the senile old fool in Washington destroyed that! They want socialism.
Not just gas. Ukraine is the worlds largest wheat producer and has stopped exports
www.marketwatch.com
Wheat continues surge toward all-time high as Russian invasion of Ukraine shuts down exports
Wheat futures trade limit higher again on Monday, continuing a surge toward all-time highs as Russia's invasion of Ukraine shuts off a key source of exports...
www.marketwatch.com
Sigh. I wish people in this country could simply talk politics/issues without juvenile name calling or agendas.
Do you have any concept as to the impact of what is going on? Do you understand how serious this is to not only Ukraine, but to the safety of those in Europe? Yeah, it's a pretty big deal, but somehow you seem obsessed as to what I think about. Glad you have your priorities in order.
I don't necessarily think it's a bad idea to secure some energy from foreign sources, because it might part of a foreign policy strategy. Securing energy (or critical imports) from foreign adversaries or threats is a different story.
It is a whole host of issues on why we import oil. Remember we export oil as well. So why don't we stop exporting oil and just keep it for ourselves. It probably has to do with prices. But there are other factors like I recently heard the Jones act prohibits foreign vessels shipping cargo from one US port to another US port. Thus, we can't ship Texas oil to the East coast and have to import oil to the east coast.
This is just one example of the complications that make this issue not so easy.
...but a global pandemic wasnt very impactful. guess something finally sounded an alarm in the ivory tower.
We are not reliant. Buying foreign by choice is different that having no choice but to buy foreign oil.
Rough data. (Hard to get a single concise source for a single year)
Approx.:
37% of our energy use is oil.
43% of our oil consumption is imported. 16% of energy usage.
About 60% comes from Canada. 10% of energy usage.
7% of the imports are from Russia. 1% of our energy usage.
We currently export more oil then we import.
I don't view this as being reliant on foreign oil.
It limits the size of the vessels allowed to ship from one US port to another which effectively eliminates the option.
So why has the cost of gas gone up like crazy in the last few weeks? The Russia-Ukraine conflict has zero impact on US domestic oil production.
How Much Oil Does the U.S. Import From Russia and Why Did Biden Ban It?
Despite being the top global producer, the U.S. had used Russian crude to service more isolated coastal markets and keep refineries running at optimal levels.
www.wsj.com
Normal volatility due to a supply shortage. Production and distribution does not turn on a dime.
Same thing happens when a hurricane hits the gulf and disrupts supply.
A war makes the market more jittery than a hurricane. Alos, the market has been a little upset the last 60 days anyway.
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If we aren't reliant on foreign oil, then our prices should not dramatically increase in a matter of days because of a war in Europe. If America was energy independent, what's going on in Ukraine wouldn't matter much at all. That is not the case.
Why don't you tell me since you're such an expert? $120/barrel oil and you're out here saying it's a supply issue. LOL.
You're a typical message board poster. No interest in discussion or substance, only sitting behind your keyboard and making fun of others.
We're not reliant in that we could probably produce enough here on our own if we chose to but we participate in the global trade so our prices our impacted from any major global market interruptions.
US production will increase, but not to fill our domestic needs but to export more.
US production needs to increase period for all reasons. Both domestic and foreign.
Where have I made fun of you?
I posted a straightforward response to your question and you don't agree with it.
You're entitled to disagree.
The war has disrupted the global oil supply. We are tied to a global company.
I will restate my claim. We are not RELIANT on global oil.
We are affected by global prices. We export into a global market where the price of oil is higher.
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I read the same thing as you did about the Jones Act being a major impediment as it relates to this issue. I think it hurts the West Coast the most who relies on Russian oil far more than other places in the country.
Also, I read that we don't really rely on Russian oil nearly as much as others do and that the restrictions don't really tip the needle on our cost.
That especially applies to energy policy. If you approach energy from either "I like Biden and so I like his polices or I like Trump so I like his polices, you can easily find the talking points to support your view.
Digest the following chart and then read the two opposing views on energy policies.
Biden's policies read very well. The long terms goals dovetail with the chart. I believe some of the short term decisions to curb natural gas, coal, and oil are too aggressive. When you throw in "environmental justice" and "fighting climate change" you have a message that is easy to accept.
Trump's policies are easy targets to rip apart. They are framed as being an enemy of the environment and promoting dependence on oil, gas and coal. His desire to reduce regulations are framed as wanting to allow big corporations to pollute the world. It is an easy thing to reject.
I personally think a combination for the two policies make sense. Unfortunately, either side uses the cons of the other's policies as a political weapons.
Keep Biden's direction toward increasing renewables, reducing carbon, promoting electric vehicles. Keep Trump's decisions for the short and near term to reducing choking regulations and maintain reasonable energy cost with gas, oil, and coal. We cannot cut oil, gas, and coal too quickly while building out renewables.
US energy policy under the Biden administration: domestic and global dimensions
During the presidential campaign and his first months in the Oval Office, Joe Biden has expressed his commitment to fight against climate change and promote clean energy, marking a sharp difference from his predecessor. Indeed, Trump pursued US “eneraspeniaonline.it
Time to rethink Biden’s anti-American energy policies
Building foreign industry at the expense of domestic energy producers is a failing plan.thehill.com
Here is a veiled attempt by NPR to objective.
Trump's And Biden's Plans For The Environment
Here's how the environmental priorities of the Republican president and his Democratic challenger compare.www.npr.org
The above is in response to your question:
We’ll, we’re no longer energy independent. Biden didn’t like it so in dictator like fashion he canceled the pipeline, ending American jobs and energy independence.
The people who elected him wanted a greener America. That's how it works. Biden is only doing what the people who elected him wanted. Be careful what you wish for because you just might get it.
High inflation,High gas prices and open borders glad I didn’t vote for Biden ( aka Bernie Sanders lite).The moderate who was going to bring experience, the solution to Covid ( more deaths than under Trump) and control of the border etc. had arguably worst first year of any president in modern times.I hope he doesn’t top that record in his second year.
The people that wanted him elected, didn't want Trump, like the people that elected Trump, didn't want Hillary...
