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#4658813 - 02/07/18 08:30 AM Why is the U. S selling its Oil and Gasoline?
ZZman Offline


Registered: 03/17/08
Posts: 5780
Loc: Michigan
Why not keep it here to keep prices low and let people spend their money on other things?
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#4658815 - 02/07/18 08:31 AM Re: Why is the U. S selling its Oil and Gasoline? [Re: ZZman]
javacontour Offline


Registered: 06/26/03
Posts: 10306
Loc: 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?
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#4658825 - 02/07/18 08:36 AM Re: Why is the U. S selling its Oil and Gasoline? [Re: ZZman]
mk378 Offline


Registered: 09/27/15
Posts: 1418
Loc: 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.


Edited by mk378 (02/07/18 08:45 AM)

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#4658840 - 02/07/18 08:46 AM Re: Why is the U. S selling its Oil and Gasoline? [Re: ZZman]
Snagglefoot Offline


Registered: 12/31/17
Posts: 1719
Loc: Alberta
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.

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#4658861 - 02/07/18 09:07 AM Re: Why is the U. S selling its Oil and Gasoline? [Re: ZZman]
raytseng Offline


Registered: 12/11/08
Posts: 2333
Loc: 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


Edited by raytseng (02/07/18 09:09 AM)

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#4658873 - 02/07/18 09:25 AM Re: Why is the U. S selling its Oil and Gasoline? [Re: ZZman]
spackard Offline


Registered: 03/24/11
Posts: 1714
Loc: 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.

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#4658900 - 02/07/18 09:50 AM Re: Why is the U. S selling its Oil and Gasoline? [Re: ZZman]
grampi Offline


Registered: 10/08/06
Posts: 7762
Loc: 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...


Edited by grampi (02/07/18 09:51 AM)

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#4658909 - 02/07/18 10:05 AM Re: Why is the U. S selling its Oil and Gasoline? [Re: ZZman]
Al Offline


Registered: 06/08/02
Posts: 18034
Loc: 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!!!


Edited by Al (02/07/18 10:05 AM)
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#4658911 - 02/07/18 10:06 AM Re: Why is the U. S selling its Oil and Gasoline? [Re: ZZman]
Boomer Offline


Registered: 09/19/08
Posts: 1934
Loc: 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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#4658915 - 02/07/18 10:11 AM Re: Why is the U. S selling its Oil and Gasoline? [Re: ZZman]
CT8 Offline


Registered: 10/09/14
Posts: 10967
Loc: Idaho
I am sure the oil boom is employing lots of people making decent money. Which is good.
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#4658926 - 02/07/18 10:22 AM Re: Why is the U. S selling its Oil and Gasoline? [Re: ZZman]
BrocLuno Offline


Registered: 09/06/15
Posts: 5514
Loc: 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.
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#4658929 - 02/07/18 10:25 AM Re: Why is the U. S selling its Oil and Gasoline? [Re: ZZman]
Donald Offline


Registered: 03/21/04
Posts: 20455
Loc: 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.
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#4658933 - 02/07/18 10:32 AM Re: Why is the U. S selling its Oil and Gasoline? [Re: ZZman]
double vanos Offline


Registered: 08/05/04
Posts: 1885
Loc: 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.
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#4658941 - 02/07/18 10:43 AM Re: Why is the U. S selling its Oil and Gasoline? [Re: raytseng]
UberArchetype Offline


Registered: 07/13/17
Posts: 105
Loc: 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.

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#4658943 - 02/07/18 10:43 AM Re: Why is the U. S selling its Oil and Gasoline? [Re: ZZman]
zzyzzx Offline


Registered: 05/18/12
Posts: 4369
Loc: 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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