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Why is the U. S selling its Oil and Gasoline? #4658813
02/07/18 09:30 AM
02/07/18 09:30 AM
Joined: Mar 2008
Posts: 6,415
Michigan
ZZman Offline OP
ZZman  Offline OP

Joined: Mar 2008
Posts: 6,415
Michigan
Why not keep it here to keep prices low and let people spend their money on other things?


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Re: Why is the U. S selling its Oil and Gasoline? [Re: ZZman] #4658815
02/07/18 09:31 AM
02/07/18 09:31 AM
Joined: Jun 2003
Posts: 10,692
Illinois
javacontour Offline
javacontour  Offline

Joined: Jun 2003
Posts: 10,692
Illinois
Because oil companies are in the business of making money.

If you want to keep it here and make less, buy an oil company and do just that.

Or buy oil company stocks and get paid dividends when they make more money.

Originally Posted By: ZZman
Why not keep it here to keep prices low and let people spend their money on other things?


network down, IP packets delivered via UPS -BOFH
Re: Why is the U. S selling its Oil and Gasoline? [Re: ZZman] #4658825
02/07/18 09:36 AM
02/07/18 09:36 AM
Joined: Sep 2015
Posts: 1,699
USA
mk378 Offline
mk378  Offline

Joined: Sep 2015
Posts: 1,699
USA
In effect, the USA is exporting refinery capacity. That isn't necessarily a bad thing. It does distort the numbers to make it seem that we need to import a lot of crude. Actually much of that oil is being refined and re-exported.

Keeping refineries at full capacity is a major way the industry fixes prices. Notice that the price of gasoline or diesel only loosely follows that of crude oil.

Last edited by mk378; 02/07/18 09:45 AM.
Re: Why is the U. S selling its Oil and Gasoline? [Re: ZZman] #4658840
02/07/18 09:46 AM
02/07/18 09:46 AM
Joined: Dec 2017
Posts: 3,949
SE British Columbia, Canada
Snagglefoot Online content
Snagglefoot  Online Content

Joined: Dec 2017
Posts: 3,949
SE British Columbia, Canada
Selling gasoline overseas provides jobs to Americans in the refining sector. The crude oil being sold overseas is due mostly to the over abundance of light oil, mostly from North Dakota. One half of that oil goes to Eastern Canada where the refineries are set up to process light oil, commonly imported from world wide sources such as the Middle East. A heavier blend of oil is imported from Western Canada. Most of that oil is sent to the USA mid west refineries but some makes it down to the Gulf Coast. Itís a win-win situation. Heavy Canadian oil is priced way cheaper than WTI (West Texas Intermediate), so Americans do benefit in the form of cheaper gasoline. Up in Canada, weíll always have oil for our American friends.


If you want the job done right......do it yourself.
Re: Why is the U. S selling its Oil and Gasoline? [Re: ZZman] #4658861
02/07/18 10:07 AM
02/07/18 10:07 AM
Joined: Dec 2008
Posts: 2,408
CA
raytseng Offline
raytseng  Offline

Joined: Dec 2008
Posts: 2,408
CA
The Oil isnt owned by the US unless you are talking about the strategic reserve. There is no US Oil company of America. The oil reserves already been sold through drilling and mining rights to large corporations. Opening up drilling gives the oil to those companies with only small royalties to the country
These companies even those HQed in the US have no responsibility to do business with the perspectives of whats best for the US. In fact they actually have a fiduciary responsibility is to do what's best for the company/shareholders and they would be breaching that responsibilty by not maximizing profit or company growth

where is the politics lock

Last edited by raytseng; 02/07/18 10:09 AM.
Re: Why is the U. S selling its Oil and Gasoline? [Re: ZZman] #4658873
02/07/18 10:25 AM
02/07/18 10:25 AM
Joined: Mar 2011
Posts: 1,950
CA
spackard Offline
spackard  Offline

Joined: Mar 2011
Posts: 1,950
CA
That's very naive - why not keep it here and keep prices low.

If you're saying why not make gov't. powerful enough to interfere with private competition, then show me a gov't. that did not also take their oil and sell it internationally for short-term benefit of their politicians. Every country puts taxes or fees on their oil exports, and uses those for pet projects. At least in the US we don't idle an entire generation, acting like the money will never run out and therefore we don't need to build, grow, or export anything else.

Re: Why is the U. S selling its Oil and Gasoline? [Re: ZZman] #4658900
02/07/18 10:50 AM
02/07/18 10:50 AM
Joined: Oct 2006
Posts: 8,626
OH
grampi Offline
grampi  Offline

Joined: Oct 2006
Posts: 8,626
OH
Oil companies operate to make money, like any business. I don't have a problem with them exporting their products as long as prices here stay reasonable. If we're paying $3.50-$4 or more for our gas due to tight supplies, that's different...then I would say we should be keeping more of it here to keep our prices reasonable...

Last edited by grampi; 02/07/18 10:51 AM.
Re: Why is the U. S selling its Oil and Gasoline? [Re: ZZman] #4658909
02/07/18 11:05 AM
02/07/18 11:05 AM
Joined: Jun 2002
Posts: 18,476
Elizabethtown, Pa
Al Offline
Al  Offline

Joined: Jun 2002
Posts: 18,476
Elizabethtown, Pa
Originally Posted By: ZZman
Why not keep it here to keep prices low and let people spend their money on other things?

Its a world economy man. Ships leave and arrive in this country with every conceivable product. The price of all comodities is determined on the "Spot Market" here and around the world. Why would a U.S. company seel oil in the U.S. when it could sell it for more somewhere else.

You are thinking that its 1950? Or you want price controls.

With all due respect you should do some reading on the subject.

A good start would be "An Inquiry into the Nature and Causes of the Wealth of Nations" Published in 1776 by Adam Smith. He rose above this thinking 250 years ago!!!

Last edited by Al; 02/07/18 11:05 AM.

Re: Why is the U. S selling its Oil and Gasoline? [Re: ZZman] #4658911
02/07/18 11:06 AM
02/07/18 11:06 AM
Joined: Sep 2008
Posts: 2,036
Pennsylvania
Boomer Offline
Boomer  Offline

Joined: Sep 2008
Posts: 2,036
Pennsylvania
Basic rule of capitalism....make a profit for the shareholder. If you want government control of oil, go to Venezuela. Even Mexico is turning away from state control of Pemex and opening it up to corporations as the government there slowly destroyed the efficiency of the oil business.


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Re: Why is the U. S selling its Oil and Gasoline? [Re: ZZman] #4658915
02/07/18 11:11 AM
02/07/18 11:11 AM
Joined: Oct 2014
Posts: 13,320
Canyon County Idaho
CT8 Online content
CT8  Online Content

Joined: Oct 2014
Posts: 13,320
Canyon County Idaho
I am sure the oil boom is employing lots of people making decent money. Which is good.


2015 Ford F150 2.7
2018 Ford F350 6.2
Re: Why is the U. S selling its Oil and Gasoline? [Re: ZZman] #4658926
02/07/18 11:22 AM
02/07/18 11:22 AM
Joined: Sep 2015
Posts: 6,179
Kalifornia Kollective
BrocLuno Offline
BrocLuno  Offline

Joined: Sep 2015
Posts: 6,179
Kalifornia Kollective
+1 smile

USA - we do oil pretty well. We sort of invented the whole industry and we sell the products world wide. Good on us.


Formerly in marine engineering. In an earlier life I owned my own petroleum tank truck, and hauled for the majors and independent's.
Re: Why is the U. S selling its Oil and Gasoline? [Re: ZZman] #4658929
02/07/18 11:25 AM
02/07/18 11:25 AM
Joined: Mar 2004
Posts: 21,867
Upstate NY
Donald Online content
Donald  Online Content

Joined: Mar 2004
Posts: 21,867
Upstate NY
Originally Posted By: ZZman
Why not keep it here to keep prices low and let people spend their money on other things?


What drives most everything in business, profit.

They are also selling natural gas. Which take a huge plant to compress and cool it to make it liquid.


2015 Subaru Forester 2.5 engine/CVT
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Re: Why is the U. S selling its Oil and Gasoline? [Re: ZZman] #4658933
02/07/18 11:32 AM
02/07/18 11:32 AM
Joined: Aug 2004
Posts: 2,179
5600 feet elevation, Arizona
double vanos Offline
double vanos  Offline

Joined: Aug 2004
Posts: 2,179
5600 feet elevation, Arizona
Back when gas was $4+ a gallon my brother thought the government should step in and control the prices. After a short lecture on how economics work and how the free market sets prices, I told him that if didnít like having to buy lots high priced gas, get a smaller car.


Sabine Schmitz is the Queen of the 'Ring; Svetlana Kapanina is the Queen of the SKIES...
Re: Why is the U. S selling its Oil and Gasoline? [Re: raytseng] #4658941
02/07/18 11:43 AM
02/07/18 11:43 AM
Joined: Jul 2017
Posts: 125
CO
UberArchetype Offline
UberArchetype  Offline

Joined: Jul 2017
Posts: 125
CO
Originally Posted By: raytseng
These companies even those HQed in the US have no responsibility to do business with the perspectives of whats best for the US.

In fact, depending on who is at the helm, they may not care what is good at all - period. Higher profit is the only goal for some of these leeches.

Netflix Dirty Money.

You can be sure there are plenty of these bozos sprinkled across the oil and gas industries.

Re: Why is the U. S selling its Oil and Gasoline? [Re: ZZman] #4658943
02/07/18 11:43 AM
02/07/18 11:43 AM
Joined: May 2012
Posts: 4,659
Baltimore, Maryland, USA
zzyzzx Offline
zzyzzx  Offline

Joined: May 2012
Posts: 4,659
Baltimore, Maryland, USA
I was wondering if it was an east coast vs west coast type of thing. Where one said was importing and the other was exporting.

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