Sorry but I can't make head or tail out of that. :-)

I don't see what it has to do with either of the posts above it, nor what you're really saying.

Ah sorry. Was discussing some of the oil issues from the import side and I know I had some export side of things. Basically more broad stroke at one point.

Let me dig up export numbers, but basically a lot of it is silly. (Meaning you can bag the Middle East, keep stuff here and do okay.)

>>"....Was discussing some of the oil issues from the import side and I know I had some export side of things...."<<

Sounds like George Costanza's attempted alibi to Susan when he went to meet Marisa Tomei. :haha:

Grrrr.

Here is the link for the numbers that I used before. And I knew I pulled export numbers before also.

www.eia.gov/petroleum/reports.cfm?t=160

PS Maris did roids

I never said, "oil." I said, "fuel."

Our biggest "import" is still crude oil, but our biggest "export" is now (as of 2011) fuel (refined here in the states) in the form of gasoline, jet fuel, and diesel. There is a surplus of gasoline in this country.

Congress could enact legislation demanding oil companies set a reasonable rate, like $2.00 per gallon for the American consumer, before any "fuel" gets exported to other countries. But they won't because they've already sold themselves to big oil.

FWIW, here's a link:

http://www.floridatoday.com/usatoday/article/52298812?odyssey=mod_sectionstories

Oh -- it was a trick question! :-)

I don't think too many people will get why you're talking about "fuel" particularly.

I also think it's pretty irrelevant to anything.

IMO the only reason it's interesting is BECAUSE it looks like you're talking about oil.

If it's this other thing -- which, by the way, doesn't have a commonly understood meaning anyway -- most people would shrug, and wonder why you think it tells us much of anything of importance.

As near as I can tell, it doesn't.

You don't think that the U.S. having a surplus of gasoline and the prices going up at the same time, tells you something?

It also tells me "supply and demand" economic does not apply here, because demand is down in the U.S. and supply is sky high, and yet the price goes up --

Because commodity and futures speculators, like Goldman Sachs and other Wall St. traders are now involved in the manipulation of the price of gas.

It also tell me oil companies could get a pipeline the size of Texas s*cking a 100 trillion barrels of oil a day out of the planet and the price of gas would still go up for the consumer.

Not sure why you're acting as if manufactured fuel has always been the U.S. biggest export. Because in its history manufactured fuel has never been its biggest export.

"Instead of flowing the high supply to the US consumer to bring down the gas prices and help to economy, big oil instead, sends it overseas to for higher profit thus creating a false shortage here in America. "

Their primary fiduciary responsibilities are to their share-holders, not the consumer. I have to say, I am quite happy they are doing the refining here, and providing hundreds of thousands of high paying jobs.

"Yeah, let's build that Keystone pipeline so big oil can can get richer by moving it into the global economy. "

I'm cool with that. I've got a fair amount of big oil stock in my 403b.

Well, I can see why you'd be for it then. Good luck.

As I understand it, all crude oil is sold as a commodity on the world market. We, the United States, do not produce enough crude oil to satisfy our own needs. I think you are confusing refining capacity with what is sold here. We refine oil for a number of different companies but the refined gasoline does not suddenly belong to the United States. If BP Europe for example ships 10M barrels of crude to Texas for refining then the results of that 10M barrels still belongs to BP Europe and they pay the refinery for refining it but it still belongs to them and not to the US.

And best of luck to you!

I don't quite understand that. If the U.S. is accredited with manufactured fuel as an "export" how can it be owned by another country? I could see the U.S. importing Saudi crude then refining it and exporting it, it would still be a U.S. product, but I'm confused with the other scenario. Oh, well.

He's saying other countries might be contracting out their refining to us. Boeing used to send some of the Space Shuttle parts down to Mexico for cleaning. They would clean them, and send them back. But the parts always belonged to Boeing. This is the same kind of scenario.

This might help explain it. The world has the capacity to refine about 85M gallons of oil a day. Of that total, the US with 132 refineries is able to refine about 16.7M gals per day or about 20% of the worlds capacity. Now on the crude side of the house, the US is 3rd in production with 5.7M gals per day. So we are refining more than we are producing. We can't keep the 11M gals that we don't produce in crude each day.