Foxtrot08 makes an oil thread! (Page 157 of 160)
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Originally Posted By 2JokersWild: I think its important to look at the big picture. I have enough for 2 oil changes. Thats a year and a half of oil, maybe more. Fact is, if we get to a point where oil has become so scarce you need to have more than a year stocked then we have much bigger problems coming down the pipe that whether or not you can change your oil wont even move the needle of "Oh shit". My opinion. |
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Originally Posted By bluemax_1: Thanks. So basically the isolationist mentality isn’t feasible unless people support the “more pain, questionable gain” train. Originally Posted By bluemax_1: Originally Posted By Foxtrot08: Originally Posted By bluemax_1: Originally Posted By Foxtrot08: Originally Posted By bluemax_1: Originally Posted By boolzi: Originally Posted By bluemax_1: Originally Posted By Foxtrot08: Originally Posted By bluemax_1: Originally Posted By Foxtrot08: Originally Posted By brass: Originally Posted By Foxtrot08: Originally Posted By brass: Originally Posted By Foxtrot08: Pay walled but: https://www.wsj.com/business/energy-oil/oil-executives-say-the-great-fuel-crisis-is-here-b6b32030 TL;DR: Chevron CEO Mike Wirth says the fuel crisis oil executives warned would follow a prolonged closure of the Strait of Hormuz has now officially arrived, with the mechanisms that mitigated price and supply risk having "largely now played out" and the system holding nowhere near the buffers it had when the war began, as Trump officials continue to claim the disruption is temporary, per WSJ. Wirth says he has not spoken to Trump since August 3, when Trump attacked him on Truth Social for not crediting the administration and demanded oil companies bring retail prices "DOWN, NOW!" I said in March, I didn’t want to be right. This would be much easier for me to just eat crow and look like an idiot on the Internet. Here's where I'm confused, especially with domestic wells and wells in South America and in the gulf of America. We only get 2-4% of our liquid oil from sources that use Strait of Hormuz. The 8% of oil used is mostly for plastics and cracking out specific parts for the rest to go into"reprocessing." (with brand new oil? How does that work @Foxtrot07 So less than 10% impact on America's fuel and diesel supply yet prices climbed by over $1/gallon for fuel and even more for diesel. Something this picture isn't making sense and id a bit fuzzy but not sure hwy. Is some converted to LONG before shipment and that's why the gallons don't mean "Gallons"? As numbers I saw yesterday, we are exporting 1.7m bpd of diesel fuel, another 350,000 of jet fuel/kerosene, around 2m of the different types of gasolines. Currently, we are being the world’s gas station and there’s not a lot of competition right now. Manchu65 sort of touched on this. US refiners, right now globally have almost no competition. Europe especially, but other regions too, are paying basically whatever price, because they need fuel. So the refiners are just exporting everything possible. Their input costs are staying low, because of what you mentioned - domestic crude, south / Central America crude, Canadian crude. But, the spread between crude and finished products is climbing because of that export demand. There’s just no competition for refined products. Essentially all the Middle East refined products are offline. All the Russian products are offline. Net exporters, it really leaves the U.S. and South Korea as the two big suppliers, with the U.S. being much much larger. Now as for reprocessing. That’s called hydrocracking. You put oil under heat and pressure, this will change the hydrocarbon chains. Making them more uniform. So you can make more usable products out of a barrel of oil. Instead of making a lot of asphalts, or bunker fuels. We can make more gasoline and diesel fuel out of that same barrel with hydrocracking. Ok, Is South America still making most of our gas out of our oil? Like we're outsourcing that to keep the envirowhacks happy so we pump the oil in the US, put it in a boat, send it to South America for the messy refinery then it's sent back as components and we work on it more. Can the US turn something "junky" like Pennsylvania waxy oil into stable fuel and oil, or do they like the Texas kind of oil for that? I know they come from different places, and gas isn't made in the US much directly but not sure how globalized we've stuck ourselves into a corner with it to claim the "globalized economy" badge. We make the majority of our refined products here. The north eastern states and the west coast import a significant amount of fuel. But that’s because of their politics and lack of pipelines. In the Midwest, we use a lot Canadian crude and Ohio / WV / Pa crude. Ergon in WV, Marathon canton, marathon KY all work off more local crude supplies. You also have ARG Bradford Pa, and United Refinery in that same hauling region. For the last fully reported month, June 2026, we imported around 1m bpd. We use around 9.2m bpd now. So we definitely do not import the majority of our gas. Hawaii, CA, then as I said - NY / Maine / CT / etc. that aren’t connected to pipelines heavily, are reliant on more imports than the Midwest, south east, south west and such. @Foxtrot08 Did I misunderstand what I’ve read? Is the majority of diesel and gasoline sold in the US, refined in the US from US crude? Yeah I must have. But yes, the majority of gasoline refined in the U.S. is sold in the U.S. Missed part of the question. The gas refined in the US, is refined from US drilled crude? I first heard/read somewhere years ago, that the gas sold in the US was refined in US refineries from imported heavy sour crude. Looks like 40% is imported. “Where US gas and diesel actually come from Refined in the US: almost all of it. Imported finished gasoline is about 1–2% of what we burn — roughly 60–180 thousand barrels a day against 8.9 million a day of consumption. On diesel we're a net exporter. Made from US crude: about 6 barrels in 10. US production runs around 13.8 million barrels a day, but refineries take in about 17.2 million. The gap is imports, mostly Canada, some Mexico. Why we export our own crude and import theirs: Gulf Coast refineries were built for heavy, sour crude and that equipment is already paid for. Shale gives us light, sweet crude those units don't run well. So the light goes overseas to refineries built for it, and Canadian heavy comes down the pipe. It's a fittings mismatch, not a shortage Source: US Energy Information Administration (eia.gov).” Originally Posted By Shooter66: Blending of heavy and sweet crude is a thing. At least on the gulf coast they can refine our sweet crude if they want to but they can get a better mix of products and run more efficiently with some heavy stuff in the mix. Thanks. So about 60% of gas sold in the US is refined from US crude, and ~40% from imported crude. I’m not sure if those numbers completely jive, but it’s close enough. I was trying to get a better grasp of a question I think some people are asking (without being aware of that factor), which is; If the US stopped exporting US crude, do we even have the ability to refine all the fuel we need/use from US crude? Or is that approximate 60% refined from US crude, near the limits of what we can refine from our light sweet crude? (i.e. if we stopped exporting our crude, would we still need to import heavy sour crude to be able to produce all the fuel we use in the US because we don’t have enough refining capacity to make 100% from US crude?). We do not have the refinery capacity to make everything we use. We have the refinery capacity for 18.4m bpd. We use 20-21m bpd. So we have around a 3m bpd deficit. That would be spread to about all major products. Thanks. So basically the isolationist mentality isn’t feasible unless people support the “more pain, questionable gain” train. Yes. It would be extremely painful for a while. And sorry for the misunderstanding. I’ve had like no time for the last few days and it’s just getting worse. |
Direction, not intention, determines destination.
Integrity is the essence of everything successful.
Integrity is the essence of everything successful.
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My local Walmart delivered five, 5qt jugs of Mobil 1 0w20 Extended Protection today at $26.97/jug +tax. I’m at a point where I’m good for two years on each of my vehicles, but I love a good neck-bearding occasion. Haven’t done it since Obama years 😂 What’s interesting is to look and see how many Walmart says they sold yesterday of each product. A lot are 500+ sold yesterday. |
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Got a different type of question not sure if you'd know the answer. I'm considering turbo charging my crx build. I have tons of room.up front since the radiator is going in the back. Considering running an independent oil reservoir cooler and pump if I run turbo. Since I won't be feeding from the engine oil what type of oil is best for turbo chargers? Or are they designed around average engine oil? |
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Originally Posted By victorgonzales: Got a different type of question not sure if you'd know the answer. I'm considering turbo charging my crx build. I have tons of room.up front since the radiator is going in the back. Considering running an independent oil reservoir cooler and pump if I run turbo. Since I won't be feeding from the engine oil what type of oil is best for turbo chargers? Or are they designed around average engine oil? In 2026 every modern engine oil is designed for turbo charger deposits. Something 40w would probably be my preference for that? I would probably go with a euro XXw40. But it would also be dependent on your dwell time / capacity / etc. and what the turbo company recommends for its bearings. |
Direction, not intention, determines destination.
Integrity is the essence of everything successful.
Integrity is the essence of everything successful.
|
Originally Posted By Foxtrot08: Yes. It would be extremely painful for a while. And sorry for the misunderstanding. I’ve had like no time for the last few days and it’s just getting worse. Originally Posted By Foxtrot08: Originally Posted By bluemax_1: Originally Posted By Foxtrot08: Originally Posted By bluemax_1: Originally Posted By Foxtrot08: Originally Posted By bluemax_1: Originally Posted By boolzi: Originally Posted By bluemax_1: Originally Posted By Foxtrot08: Originally Posted By bluemax_1: Originally Posted By Foxtrot08: Originally Posted By brass: Originally Posted By Foxtrot08: Originally Posted By brass: Originally Posted By Foxtrot08: Pay walled but: https://www.wsj.com/business/energy-oil/oil-executives-say-the-great-fuel-crisis-is-here-b6b32030 TL;DR: Chevron CEO Mike Wirth says the fuel crisis oil executives warned would follow a prolonged closure of the Strait of Hormuz has now officially arrived, with the mechanisms that mitigated price and supply risk having "largely now played out" and the system holding nowhere near the buffers it had when the war began, as Trump officials continue to claim the disruption is temporary, per WSJ. Wirth says he has not spoken to Trump since August 3, when Trump attacked him on Truth Social for not crediting the administration and demanded oil companies bring retail prices "DOWN, NOW!" I said in March, I didn’t want to be right. This would be much easier for me to just eat crow and look like an idiot on the Internet. Here's where I'm confused, especially with domestic wells and wells in South America and in the gulf of America. We only get 2-4% of our liquid oil from sources that use Strait of Hormuz. The 8% of oil used is mostly for plastics and cracking out specific parts for the rest to go into"reprocessing." (with brand new oil? How does that work @Foxtrot07 So less than 10% impact on America's fuel and diesel supply yet prices climbed by over $1/gallon for fuel and even more for diesel. Something this picture isn't making sense and id a bit fuzzy but not sure hwy. Is some converted to LONG before shipment and that's why the gallons don't mean "Gallons"? As numbers I saw yesterday, we are exporting 1.7m bpd of diesel fuel, another 350,000 of jet fuel/kerosene, around 2m of the different types of gasolines. Currently, we are being the world’s gas station and there’s not a lot of competition right now. Manchu65 sort of touched on this. US refiners, right now globally have almost no competition. Europe especially, but other regions too, are paying basically whatever price, because they need fuel. So the refiners are just exporting everything possible. Their input costs are staying low, because of what you mentioned - domestic crude, south / Central America crude, Canadian crude. But, the spread between crude and finished products is climbing because of that export demand. There’s just no competition for refined products. Essentially all the Middle East refined products are offline. All the Russian products are offline. Net exporters, it really leaves the U.S. and South Korea as the two big suppliers, with the U.S. being much much larger. Now as for reprocessing. That’s called hydrocracking. You put oil under heat and pressure, this will change the hydrocarbon chains. Making them more uniform. So you can make more usable products out of a barrel of oil. Instead of making a lot of asphalts, or bunker fuels. We can make more gasoline and diesel fuel out of that same barrel with hydrocracking. Ok, Is South America still making most of our gas out of our oil? Like we're outsourcing that to keep the envirowhacks happy so we pump the oil in the US, put it in a boat, send it to South America for the messy refinery then it's sent back as components and we work on it more. Can the US turn something "junky" like Pennsylvania waxy oil into stable fuel and oil, or do they like the Texas kind of oil for that? I know they come from different places, and gas isn't made in the US much directly but not sure how globalized we've stuck ourselves into a corner with it to claim the "globalized economy" badge. We make the majority of our refined products here. The north eastern states and the west coast import a significant amount of fuel. But that’s because of their politics and lack of pipelines. In the Midwest, we use a lot Canadian crude and Ohio / WV / Pa crude. Ergon in WV, Marathon canton, marathon KY all work off more local crude supplies. You also have ARG Bradford Pa, and United Refinery in that same hauling region. For the last fully reported month, June 2026, we imported around 1m bpd. We use around 9.2m bpd now. So we definitely do not import the majority of our gas. Hawaii, CA, then as I said - NY / Maine / CT / etc. that aren’t connected to pipelines heavily, are reliant on more imports than the Midwest, south east, south west and such. @Foxtrot08 Did I misunderstand what I’ve read? Is the majority of diesel and gasoline sold in the US, refined in the US from US crude? Yeah I must have. But yes, the majority of gasoline refined in the U.S. is sold in the U.S. Missed part of the question. The gas refined in the US, is refined from US drilled crude? I first heard/read somewhere years ago, that the gas sold in the US was refined in US refineries from imported heavy sour crude. Looks like 40% is imported. “Where US gas and diesel actually come from Refined in the US: almost all of it. Imported finished gasoline is about 1–2% of what we burn — roughly 60–180 thousand barrels a day against 8.9 million a day of consumption. On diesel we're a net exporter. Made from US crude: about 6 barrels in 10. US production runs around 13.8 million barrels a day, but refineries take in about 17.2 million. The gap is imports, mostly Canada, some Mexico. Why we export our own crude and import theirs: Gulf Coast refineries were built for heavy, sour crude and that equipment is already paid for. Shale gives us light, sweet crude those units don't run well. So the light goes overseas to refineries built for it, and Canadian heavy comes down the pipe. It's a fittings mismatch, not a shortage Source: US Energy Information Administration (eia.gov).” Originally Posted By Shooter66: Blending of heavy and sweet crude is a thing. At least on the gulf coast they can refine our sweet crude if they want to but they can get a better mix of products and run more efficiently with some heavy stuff in the mix. Thanks. So about 60% of gas sold in the US is refined from US crude, and ~40% from imported crude. I’m not sure if those numbers completely jive, but it’s close enough. I was trying to get a better grasp of a question I think some people are asking (without being aware of that factor), which is; If the US stopped exporting US crude, do we even have the ability to refine all the fuel we need/use from US crude? Or is that approximate 60% refined from US crude, near the limits of what we can refine from our light sweet crude? (i.e. if we stopped exporting our crude, would we still need to import heavy sour crude to be able to produce all the fuel we use in the US because we don’t have enough refining capacity to make 100% from US crude?). We do not have the refinery capacity to make everything we use. We have the refinery capacity for 18.4m bpd. We use 20-21m bpd. So we have around a 3m bpd deficit. That would be spread to about all major products. Thanks. So basically the isolationist mentality isn’t feasible unless people support the “more pain, questionable gain” train. Yes. It would be extremely painful for a while. And sorry for the misunderstanding. I’ve had like no time for the last few days and it’s just getting worse. No worries, man. Take care of business and the wedding preps (and get some sleep somewhere in between). Responding in the thread can take a backseat to the important stuff. |
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Originally Posted By victorgonzales: Here's how my math works. I bought two years of oil for four vehicles. I saved a few hundred dollars with future bs prices. So now I have a few hundred more I can spend on racecar parts |
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Originally Posted By 2JokersWild: Yep, I have 2 oil changes for each vehicle. Thats good for roughly 2 years per vehicle. If I needed more than that I suspect we'd be at a point where I have more to worry about than my engine oil. |
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Originally Posted By fxntime: in the 70's, between no anti siphon valves and high fuel prices, gas theft was VERY common. It's when locking gas caps came into popularity. ''Locking'' gas cap covers don't do shit against fuel theft but the anti siphon valves are a PITA enough that drilling a hole thru the HDPE tank itself is easy as hell. ETA: Oh, yeah, duh, read the end of the post, Dopple. |
Award: 24/365 Most likely to be an appendix.
"Dealing with Congress is like trying to have an adult conversation about the credit card with your alcoholic bi-polar Ukranian import wife."
"Dealing with Congress is like trying to have an adult conversation about the credit card with your alcoholic bi-polar Ukranian import wife."
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Originally Posted By TinSpinner: I avoided the pay first pumps too but it was because I didn't have a credit card. I remember a few times, as a broke ass college student, when I was running on fumes buying less than a dollars worth of gas with coins in my ashtray. |
Award: 24/365 Most likely to be an appendix.
"Dealing with Congress is like trying to have an adult conversation about the credit card with your alcoholic bi-polar Ukranian import wife."
"Dealing with Congress is like trying to have an adult conversation about the credit card with your alcoholic bi-polar Ukranian import wife."
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Originally Posted By Foxtrot08: Good news Friday is upon us. So far, Exxon Mobil Joliet is still down. It got flooded while it had a power outage. No ETA on a return to operations. |
Award: 24/365 Most likely to be an appendix.
"Dealing with Congress is like trying to have an adult conversation about the credit card with your alcoholic bi-polar Ukranian import wife."
"Dealing with Congress is like trying to have an adult conversation about the credit card with your alcoholic bi-polar Ukranian import wife."
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Originally Posted By Dopple: Jolly good show, guv'na. Originally Posted By Dopple: Originally Posted By Foxtrot08: Good news Friday is upon us. So far, Exxon Mobil Joliet is still down. It got flooded while it had a power outage. No ETA on a return to operations. The Saudis have also declared force majeure on all their crude shipments next month. So things are going to get real fun again. |
Direction, not intention, determines destination.
Integrity is the essence of everything successful.
Integrity is the essence of everything successful.
|
Originally Posted By Foxtrot08: The Saudis have also declared force majeure on all their crude shipments next month. So things are going to get real fun again. Originally Posted By Foxtrot08: Originally Posted By Dopple: Originally Posted By Foxtrot08: Good news Friday is upon us. So far, Exxon Mobil Joliet is still down. It got flooded while it had a power outage. No ETA on a return to operations. The Saudis have also declared force majeure on all their crude shipments next month. So things are going to get real fun again. |
Award: 24/365 Most likely to be an appendix.
"Dealing with Congress is like trying to have an adult conversation about the credit card with your alcoholic bi-polar Ukranian import wife."
"Dealing with Congress is like trying to have an adult conversation about the credit card with your alcoholic bi-polar Ukranian import wife."
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Originally Posted By xd341: again?  Yup
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| Got the text at 7am that walmart canceled my order for 6 4 packs of mobil one. I went back in and the price was a bit higher and I reordered. We shall see if they ship this new order or cancel it. I am good either way but was just hoping to complete the fort of oil. |
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Originally Posted By Foxtrot08: The Saudis have also declared force majeure on all their crude shipments next month. So things are going to get real fun again. Originally Posted By Foxtrot08: Originally Posted By Dopple: Originally Posted By Foxtrot08: Good news Friday is upon us. So far, Exxon Mobil Joliet is still down. It got flooded while it had a power outage. No ETA on a return to operations. The Saudis have also declared force majeure on all their crude shipments next month. So things are going to get real fun again. It'll be ''spare a lump of coal govnor?'' this winter in jolly old england and the rest of europe. |
Liberals are a curious mix of communism and fascism, they want to destroy you but want to use your own money to do it.
I'm getting down to the last box, the others have all been destroyed...
I'm getting down to the last box, the others have all been destroyed...
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Originally Posted By fxntime: It'll be ''spare a lump of coal govnor?'' this winter in jolly old england and the rest of europe. |
Award: 24/365 Most likely to be an appendix.
"Dealing with Congress is like trying to have an adult conversation about the credit card with your alcoholic bi-polar Ukranian import wife."
"Dealing with Congress is like trying to have an adult conversation about the credit card with your alcoholic bi-polar Ukranian import wife."
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Originally Posted By Dopple: Buddy of mine is gonna get his first ton of coal soon, and he usually uses about 4 tons every winter. |
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Originally Posted By Minerk: I worked at a coal mine in Wyoming, one of the perks was that each employee could get 9 tons of coal per year. I don't think anyone took advantage of it. I gave a lot of thought to building an outdoor boiler to burn coal and heat my house/garage. Originally Posted By Minerk: Originally Posted By Dopple: Buddy of mine is gonna get his first ton of coal soon, and he usually uses about 4 tons every winter.
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Award: 24/365 Most likely to be an appendix.
"Dealing with Congress is like trying to have an adult conversation about the credit card with your alcoholic bi-polar Ukranian import wife."
"Dealing with Congress is like trying to have an adult conversation about the credit card with your alcoholic bi-polar Ukranian import wife."
|
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Originally Posted By Foxtrot08: Yes. It would be extremely painful for a while. And sorry for the misunderstanding. I’ve had like no time for the last few days and it’s just getting worse. Originally Posted By Foxtrot08: Originally Posted By bluemax_1: Originally Posted By Foxtrot08: Originally Posted By bluemax_1: Originally Posted By Foxtrot08: Originally Posted By bluemax_1: Originally Posted By boolzi: Originally Posted By bluemax_1: Originally Posted By Foxtrot08: Originally Posted By bluemax_1: Originally Posted By Foxtrot08: Originally Posted By brass: Originally Posted By Foxtrot08: Originally Posted By brass: Originally Posted By Foxtrot08: Pay walled but: https://www.wsj.com/business/energy-oil/oil-executives-say-the-great-fuel-crisis-is-here-b6b32030 TL;DR: Chevron CEO Mike Wirth says the fuel crisis oil executives warned would follow a prolonged closure of the Strait of Hormuz has now officially arrived, with the mechanisms that mitigated price and supply risk having "largely now played out" and the system holding nowhere near the buffers it had when the war began, as Trump officials continue to claim the disruption is temporary, per WSJ. Wirth says he has not spoken to Trump since August 3, when Trump attacked him on Truth Social for not crediting the administration and demanded oil companies bring retail prices "DOWN, NOW!" I said in March, I didn’t want to be right. This would be much easier for me to just eat crow and look like an idiot on the Internet. Here's where I'm confused, especially with domestic wells and wells in South America and in the gulf of America. We only get 2-4% of our liquid oil from sources that use Strait of Hormuz. The 8% of oil used is mostly for plastics and cracking out specific parts for the rest to go into"reprocessing." (with brand new oil? How does that work @Foxtrot07 So less than 10% impact on America's fuel and diesel supply yet prices climbed by over $1/gallon for fuel and even more for diesel. Something this picture isn't making sense and id a bit fuzzy but not sure hwy. Is some converted to LONG before shipment and that's why the gallons don't mean "Gallons"? As numbers I saw yesterday, we are exporting 1.7m bpd of diesel fuel, another 350,000 of jet fuel/kerosene, around 2m of the different types of gasolines. Currently, we are being the world’s gas station and there’s not a lot of competition right now. Manchu65 sort of touched on this. US refiners, right now globally have almost no competition. Europe especially, but other regions too, are paying basically whatever price, because they need fuel. So the refiners are just exporting everything possible. Their input costs are staying low, because of what you mentioned - domestic crude, south / Central America crude, Canadian crude. But, the spread between crude and finished products is climbing because of that export demand. There’s just no competition for refined products. Essentially all the Middle East refined products are offline. All the Russian products are offline. Net exporters, it really leaves the U.S. and South Korea as the two big suppliers, with the U.S. being much much larger. Now as for reprocessing. That’s called hydrocracking. You put oil under heat and pressure, this will change the hydrocarbon chains. Making them more uniform. So you can make more usable products out of a barrel of oil. Instead of making a lot of asphalts, or bunker fuels. We can make more gasoline and diesel fuel out of that same barrel with hydrocracking. Ok, Is South America still making most of our gas out of our oil? Like we're outsourcing that to keep the envirowhacks happy so we pump the oil in the US, put it in a boat, send it to South America for the messy refinery then it's sent back as components and we work on it more. Can the US turn something "junky" like Pennsylvania waxy oil into stable fuel and oil, or do they like the Texas kind of oil for that? I know they come from different places, and gas isn't made in the US much directly but not sure how globalized we've stuck ourselves into a corner with it to claim the "globalized economy" badge. We make the majority of our refined products here. The north eastern states and the west coast import a significant amount of fuel. But that’s because of their politics and lack of pipelines. In the Midwest, we use a lot Canadian crude and Ohio / WV / Pa crude. Ergon in WV, Marathon canton, marathon KY all work off more local crude supplies. You also have ARG Bradford Pa, and United Refinery in that same hauling region. For the last fully reported month, June 2026, we imported around 1m bpd. We use around 9.2m bpd now. So we definitely do not import the majority of our gas. Hawaii, CA, then as I said - NY / Maine / CT / etc. that aren’t connected to pipelines heavily, are reliant on more imports than the Midwest, south east, south west and such. @Foxtrot08 Did I misunderstand what I’ve read? Is the majority of diesel and gasoline sold in the US, refined in the US from US crude? Yeah I must have. But yes, the majority of gasoline refined in the U.S. is sold in the U.S. Missed part of the question. The gas refined in the US, is refined from US drilled crude? I first heard/read somewhere years ago, that the gas sold in the US was refined in US refineries from imported heavy sour crude. Looks like 40% is imported. “Where US gas and diesel actually come from Refined in the US: almost all of it. Imported finished gasoline is about 1–2% of what we burn — roughly 60–180 thousand barrels a day against 8.9 million a day of consumption. On diesel we're a net exporter. Made from US crude: about 6 barrels in 10. US production runs around 13.8 million barrels a day, but refineries take in about 17.2 million. The gap is imports, mostly Canada, some Mexico. Why we export our own crude and import theirs: Gulf Coast refineries were built for heavy, sour crude and that equipment is already paid for. Shale gives us light, sweet crude those units don't run well. So the light goes overseas to refineries built for it, and Canadian heavy comes down the pipe. It's a fittings mismatch, not a shortage Source: US Energy Information Administration (eia.gov).” Originally Posted By Shooter66: Blending of heavy and sweet crude is a thing. At least on the gulf coast they can refine our sweet crude if they want to but they can get a better mix of products and run more efficiently with some heavy stuff in the mix. Thanks. So about 60% of gas sold in the US is refined from US crude, and ~40% from imported crude. I’m not sure if those numbers completely jive, but it’s close enough. I was trying to get a better grasp of a question I think some people are asking (without being aware of that factor), which is; If the US stopped exporting US crude, do we even have the ability to refine all the fuel we need/use from US crude? Or is that approximate 60% refined from US crude, near the limits of what we can refine from our light sweet crude? (i.e. if we stopped exporting our crude, would we still need to import heavy sour crude to be able to produce all the fuel we use in the US because we don’t have enough refining capacity to make 100% from US crude?). We do not have the refinery capacity to make everything we use. We have the refinery capacity for 18.4m bpd. We use 20-21m bpd. So we have around a 3m bpd deficit. That would be spread to about all major products. Thanks. So basically the isolationist mentality isn’t feasible unless people support the “more pain, questionable gain” train. Yes. It would be extremely painful for a while. And sorry for the misunderstanding. I’ve had like no time for the last few days and it’s just getting worse. I support going full isolationist and becoming a vertically integrated economy again. But I am also a genuine crazy person. I don't think in normal terms, I think in centuries, and my aim is setting the stage for my grandchildren. I fully acknowledge de-globalizing our economy would be biblically painful for the remainder of my life, and rational self-interested people should not support it. |
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Originally Posted By M855Bukkake: I support going full isolationist and becoming a vertically integrated economy again. But I am also a genuine crazy person. I don't think in normal terms, I think in centuries, and my aim is setting the stage for my grandchildren. I fully acknowledge de-globalizing our economy would be biblically painful for the remainder of my life, and rational self-interested people should not support it. |
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Originally Posted By xd341: What time is it? The SoH was closed for months.....I'm gonna go with "recently" Clarification, Re: my question about force majeure The Saudi's canceling all outstanding contracts to supply entire European countries for the next two months. How is that going to effect the price at the pump above and beyond what we are already seeing with regards to diesel, today? |
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Originally Posted By JustANumber: If he has a parlor stove, I have a good recommendation... Originally Posted By JustANumber: Originally Posted By Dopple: He lives in the middle of coal country in PA. Has a mine in his town. Cheaper for him than most due to short supply lines. Rice coal, because someone would ask. If he has a parlor stove, I have a good recommendation... |
Award: 24/365 Most likely to be an appendix.
"Dealing with Congress is like trying to have an adult conversation about the credit card with your alcoholic bi-polar Ukranian import wife."
"Dealing with Congress is like trying to have an adult conversation about the credit card with your alcoholic bi-polar Ukranian import wife."
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Originally Posted By xd341: I saw a Canadian economics professor discussing the US/Canada trade stuff, and he pointed out that 85% of US GDP is a result of domestic economic activity, the highest of any modern economy in the world. I don't know how much more vertical we can get. Originally Posted By xd341: Originally Posted By M855Bukkake: I support going full isolationist and becoming a vertically integrated economy again. But I am also a genuine crazy person. I don't think in normal terms, I think in centuries, and my aim is setting the stage for my grandchildren. I fully acknowledge de-globalizing our economy would be biblically painful for the remainder of my life, and rational self-interested people should not support it. |
Award: 24/365 Most likely to be an appendix.
"Dealing with Congress is like trying to have an adult conversation about the credit card with your alcoholic bi-polar Ukranian import wife."
"Dealing with Congress is like trying to have an adult conversation about the credit card with your alcoholic bi-polar Ukranian import wife."
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Originally Posted By xd341: I saw a Canadian economics professor discussing the US/Canada trade stuff, and he pointed out that 85% of US GDP is a result of domestic economic activity, the highest of any modern economy in the world. I don't know how much more vertical we can get. Originally Posted By xd341: Originally Posted By M855Bukkake: I support going full isolationist and becoming a vertically integrated economy again. But I am also a genuine crazy person. I don't think in normal terms, I think in centuries, and my aim is setting the stage for my grandchildren. I fully acknowledge de-globalizing our economy would be biblically painful for the remainder of my life, and rational self-interested people should not support it. That is conflating two entirely different things. "Did you know most US work is done in the US?" tells you little. Low value material inputs are a prerequisite for most economic activity, and do not directly reflect the scale of the output. You're basically ignoring the role of value-added ratio to the production of goods and services. In other words, being able to make gold from lead is awesome, it is less awesome when you don't mine your own lead, even if the $-in to $$$-out ratio is insane. But I don't want to derail this thread. Suffice it to say going isolationist means a lifetime of pain. If you're cool with that, cool. If not, don't play with fire. |
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Originally Posted By emmetf: Clarification, Re: my question about force majeure The Saudi's canceling all outstanding contracts to supply entire European countries for the next two months. How is that going to effect the price at the pump above and beyond what we are already seeing with regards to diesel, today? It’s just about the worst case scenario, now reality. $10 diesel and airlines paying $7-8 for jet. The economy won’t hold up. |
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Originally Posted By M855Bukkake: That is conflating two entirely different things. "Did you know most US work is done in the US?" tells you little. Low value material inputs are a prerequisite for most economic activity, and do not directly reflect the scale of the output. You're basically ignoring the role of value-added ratio to the production of goods and services. In other words, being able to make gold from lead is awesome, it is less awesome when you don't mine your own lead, even if the $-in to $$$-out ratio is insane. But I don't want to derail this thread. Suffice it to say going isolationist means a lifetime of pain. If you're cool with that, cool. If not, don't play with fire. |
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Originally Posted By emmetf: Clarification, Re: my question about force majeure The Saudi's canceling all outstanding contracts to supply entire European countries for the next two months. How is that going to effect the price at the pump above and beyond what we are already seeing with regards to diesel, today? |
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Originally Posted By M855Bukkake: That is conflating two entirely different things. "Did you know most US work is done in the US?" tells you little. Low value material inputs are a prerequisite for most economic activity, and do not directly reflect the scale of the output. You're basically ignoring the role of value-added ratio to the production of goods and services. In other words, being able to make gold from lead is awesome, it is less awesome when you don't mine your own lead, even if the $-in to $$$-out ratio is insane. But I don't want to derail this thread. Suffice it to say going isolationist means a lifetime of pain. If you're cool with that, cool. If not, don't play with fire. And I am very familiar with the value add process applied to global commodities. It's what I do. My raw materials are metals not oil but it's very similar. |
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Saudis tell European refiners they’ll get no crude next month https://financialpost.com/commodities/energy/oil-gas/saudis-european-refiners-no-crude-next-month Saudi Aramco told at least two oil refining customers in Europe that they will be allocated no crude oil next month after the kingdom’s key pipeline to the Red Sea was attacked, people informed of the decision said. Article content European customers normally receive Saudi Arabian crude on so-called term contracts, ensuring a steady flow of supply every month. Those deliveries will not take place next month, the people said, asking not to be identified because the information isn’t public. The decision applies to all European buyers, they said. Article content Article content Article content Saudi Aramco didn’t immediately respond to a request for comment made outside normal working hours. Saudi Arabia was forced to shut its East-West pipeline last week after it was attacked by drones. The line is due to partially restart within days and be fully back up and running within six weeks, a person familiar with the matter said on Wednesday. European refineries typically lift Saudi crude from Egypt’s Mediterranean port of Sidi Kerir, which is connected to the Red Sea via a pipeline. The pipeline halt caused panic buying from some of Aramco’s customers. Poland’s Orlen SA issued more than ten tenders since Friday in a race to secure alternative supplies. European countries in the OECD imported 577,000 barrels a day of crude from Saudi Arabia in June, the International Energy Agency said in its monthly Oil Market Report.  19th Nervous Breakdown ?? The Rolling Stones {Stereo} 1966 |
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Originally Posted By emmetf: Clarification, Re: my question about force majeure The Saudi's canceling all outstanding contracts to supply entire European countries for the next two months. How is that going to effect the price at the pump above and beyond what we are already seeing with regards to diesel, today? Originally Posted By emmetf: Originally Posted By xd341: What time is it? The SoH was closed for months.....I'm gonna go with "recently" Clarification, Re: my question about force majeure The Saudi's canceling all outstanding contracts to supply entire European countries for the next two months. How is that going to effect the price at the pump above and beyond what we are already seeing with regards to diesel, today? To my knowledge, SA has never fully been cut off. Not even saddam did that. As for the prices. Well, 5-7% of the world’s crude just went offline. So… yeah. Not good. Meanwhile future traders are still smoking meth. And it’s going down today. Which is hilarious. |
Direction, not intention, determines destination.
Integrity is the essence of everything successful.
Integrity is the essence of everything successful.
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Originally Posted By Foxtrot08: To my knowledge, SA has never fully been cut off. Not even saddam did that. As for the prices. Well, 5-7% of the world's crude just went offline. So yeah. Not good. Meanwhile future traders are still smoking meth. And it's going down today. Which is hilarious.  I keed I keed.  |
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Originally Posted By xd341: So much for that futures argument huh? I keed I keed. Originally Posted By xd341: Originally Posted By Foxtrot08: To my knowledge, SA has never fully been cut off. Not even saddam did that. As for the prices. Well, 5-7% of the world's crude just went offline. So yeah. Not good. Meanwhile future traders are still smoking meth. And it's going down today. Which is hilarious. I keed I keed. So the sudden down turn is because they announced they’re going to ship out he crude cargos through the strait now. Let’s see how that works. |
Direction, not intention, determines destination.
Integrity is the essence of everything successful.
Integrity is the essence of everything successful.
| Well, gas [reg 87 octane with ethanol] hit $5 a gallon today in my area. About a .50-.60 jump overnight. [Diesel was $6.79 a gallon] |
Liberals are a curious mix of communism and fascism, they want to destroy you but want to use your own money to do it.
I'm getting down to the last box, the others have all been destroyed...
I'm getting down to the last box, the others have all been destroyed...