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Thread: U.S. now Exporting domestic oil

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    Private Pickle's Avatar Senior Member
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    U.S. now Exporting domestic oil

    So for those who think that increasing domestic drilling has helped the situation think again:

    The recent partial lifting of a ban on crude oil exports by the U.S. government has sparked ripples in major oil markets, as it has the potential to drastically change the flow of crude oil around the globe.
    The partial removal of the export ban was reported in the U.S. in the evening on June 24. The following morning, the West Texas Intermediate futures' August contracts rose for the first time in three days, gaining 47 cents to $106.5 per barrel.
    http://asia.nikkei.com/Markets/Commo...n_cid=NARAN121

    What's it going to take?

    Alternative fuel? No. Even if we had one it would be suppressed.

    More Domestic Drilling? No given we export the excess.

    More refineries? No. That would drive prices down even further which would promote exporting. Plus no oil company wants to build refineries in the US given the taxation, regulation and cost of labor/land.




    Nationalization of US oil interests?
    I find your lack of faith...disturbing...

    -Darth Vader

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    donttread's Avatar Senior Member
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    Quote Originally Posted by Private Pickle View Post
    So for those who think that increasing domestic drilling has helped the situation think again:



    http://asia.nikkei.com/Markets/Commo...n_cid=NARAN121

    What's it going to take?

    Alternative fuel? No. Even if we had one it would be suppressed.

    More Domestic Drilling? No given we export the excess.

    More refineries? No. That would drive prices down even further which would promote exporting. Plus no oil company wants to build refineries in the US given the taxation, regulation and cost of labor/land.




    Nationalization of US oil interests?

    The thing about drilling here is that it proves that our actions in the ME have nothing to do with Nation Security.

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    Quote Originally Posted by Private Pickle View Post
    So for those who think that increasing domestic drilling has helped the situation think again:



    http://asia.nikkei.com/Markets/Commo...n_cid=NARAN121

    What's it going to take?

    Alternative fuel? No. Even if we had one it would be suppressed.

    More Domestic Drilling? No given we export the excess.

    More refineries? No. That would drive prices down even further which would promote exporting. Plus no oil company wants to build refineries in the US given the taxation, regulation and cost of labor/land.




    Nationalization of US oil interests?
    Lowering the cost of doing business in the US, for starters.
    Two things awe me most, the starry sky above me and the moral law within me.
    --Immanuel Kant

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    Quote Originally Posted by Ethereal View Post
    Lowering the cost of doing business in the US, for starters.
    Gonna support we Republicans chanting for a corporate tax cut?

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    Quote Originally Posted by Ransom View Post
    Gonna support we Republicans chanting for a corporate tax cut?
    If it were up to me, I'd abolish all federal taxes.
    Two things awe me most, the starry sky above me and the moral law within me.
    --Immanuel Kant

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    Private Pickle (09-02-2014)

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    Quote Originally Posted by donttread View Post
    The thing about drilling here is that it proves that our actions in the ME have nothing to do with Nation Security.
    Correct. Although all of us here probably knew that going in...
    I find your lack of faith...disturbing...

    -Darth Vader

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    Quote Originally Posted by Ethereal View Post
    Lowering the cost of doing business in the US, for starters.
    But if you lower the cost you also lower the price. The reason we are exporting is because the price is higher in Europe and Japan than it is here.
    I find your lack of faith...disturbing...

    -Darth Vader

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    Alternative fuel is the answer and it's obviously being suppressed and likely has been for a long time.

    We can't be chained by big oil and the military industrial complex any longer

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    Peter1469 (09-02-2014)

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    Quote Originally Posted by Private Pickle View Post
    But if you lower the cost you also lower the price. The reason we are exporting is because the price is higher in Europe and Japan than it is here.
    The price is higher in Europe and Japan because they don't have easy access to an ocean of hydrocarbon energy sources. They are reliant on North America and Russia for access.

    If we lower the costs of bringing their product to the American market, then they can more easily maintain comparable profit margins to what they would get in Europe and Japan.
    Two things awe me most, the starry sky above me and the moral law within me.
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    Profit = Revenue - Cost

    Revenue = Price * Quantity sold

    A gallon of gas sells in Tokyo for $4.24.

    US national average is $3.44

    That's a difference of $0.80 a gallon.

    Generalizing, that would mean there is room for $0.79 of additional costs to bring that gallon of gas to market in Tokyo before the profit side of the equation reaches parity for both markets.

    Let's assume for the sake of argument that the additional costs are $0.65 a gallon to bring that gallon to market in Japan. That leaves an extra profit of $0.14 a gallon in the Japanese market relative to the American market, which, when you are selling millions of gallons of gas, is not a trivial amount of profit by any means.

    Holding all things equal, that would mean reducing the cost of bringing that same gallon of gas to market in America by $0.15 would make it more profitable to keep that gas in America.

    Do I think that could be accomplished? Hell yes.
    Two things awe me most, the starry sky above me and the moral law within me.
    --Immanuel Kant

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