▲ 85 ▼ Exxon Warns Oil Inventories Are Near Crisis Levels as Emerging Markets Dump US Treasuries (blocknow.com) submitted 5 months ago by yogthos@lemmy.ml to c/worldnews@lemmy.ml 18 comments fedilink hide all child comments
[+] DancingBear@midwest.social 5 points 5 months ago (10 children) [removed by mod] permalink fedilink source hideshow 10 child comments replies: [–] gary_host_laptop@lemmy.ml 15 points 5 months ago it is also the worlds largest exporter and producer of bullshit permalink fedilink source parent [–] mirshafie@europe.pub 9 points 5 months ago* (4 children) That's true. The US produces 14 million bpd and consumes 21 million bpd which is more than any other single country. US propagandists use a broad definition for what counts as petroleum products muddle the facts and call the USA a net oil exporter. The reality is that the USA must import at least 7 million barrels per day, even if they completely stop exporting. permalink fedilink source parent hideshow 4 child comments replies: [–] BillMangionee@lemmy.ml 2 points 5 months ago (3 children) Where did you get those numbers? I know for gasoline/petroleum its roughly equal local production and consumption. permalink fedilink source parent hideshow 3 child comments replies: [–] pucker4676@lemmy.ml 6 points 5 months ago* (1 child) The media makes a big deal of it, as if it's something to be proud of. Most useless, wasteful country on the planet. https://outrightpower.substack.com/p/us-oil-production-and-consumption https://usafacts.org/articles/is-the-us-a-bigger-oil-importer-or-exporter/ https://www.energy.gov/articles/fact-sheet-delivering-us-oil-and-natural-gas-production https://energyheadlines.com/us-crude-production-to-hit-record-13-41-million-bpd-in-2025-before-falling-eia-says/ https://www.lambdafin.com/articles/us-vs-opec-oil-production permalink fedilink source parent hideshow 1 child comment replies: [–] BillMangionee@lemmy.ml 2 points 5 months ago Thanks for the sources. Personally, I am more concerned about the impact a gas/petrol shortage would have rather than oil as a whole, but this is useful to know. permalink fedilink source parent [–] mirshafie@europe.pub 3 points 5 months ago* Consumption: https://www.eia.gov/energyexplained/oil-and-petroleum-products/use-of-oil.php Production: https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCRFPUS2&f=W Gasoline/Petroleum is rarely imported. The common method is to import the crude and refine on shore, which is what the USA is doing. permalink fedilink source parent [–] wheezy@lemmy.ml 3 points 5 months ago (1 child) Is your point to say this is good for the US? Good for Oil companies in the US maybe. On the short term. But oil is a global commodity. The oil goes to whoever is willing to pay. Unless you think Trump is going to nationalize the oil industry. Americans are just as fucked as anyone else. Doesn't matter where the oil comes out of the ground. It matters who is selling it and who is buying. permalink fedilink source parent hideshow 1 child comment replies: [+] DancingBear@midwest.social 1 point 5 months ago (1 child) [removed by mod] permalink fedilink source parent hideshow 1 child comment replies: [–] wheezy@lemmy.ml 2 points 5 months ago All good. Sometimes the context (or lack there of) in which people mention things makes me confuse the intent. permalink fedilink source parent load more comments (-1 replies) [–] SendMePhotos@lemmy.world 2 points 5 months ago You sure it isn't the middle east? permalink fedilink source parent load more comments (1 reply)
[–] gary_host_laptop@lemmy.ml 15 points 5 months ago it is also the worlds largest exporter and producer of bullshit permalink fedilink source parent
[–] mirshafie@europe.pub 9 points 5 months ago* (4 children) That's true. The US produces 14 million bpd and consumes 21 million bpd which is more than any other single country. US propagandists use a broad definition for what counts as petroleum products muddle the facts and call the USA a net oil exporter. The reality is that the USA must import at least 7 million barrels per day, even if they completely stop exporting. permalink fedilink source parent hideshow 4 child comments replies: [–] BillMangionee@lemmy.ml 2 points 5 months ago (3 children) Where did you get those numbers? I know for gasoline/petroleum its roughly equal local production and consumption. permalink fedilink source parent hideshow 3 child comments replies: [–] pucker4676@lemmy.ml 6 points 5 months ago* (1 child) The media makes a big deal of it, as if it's something to be proud of. Most useless, wasteful country on the planet. https://outrightpower.substack.com/p/us-oil-production-and-consumption https://usafacts.org/articles/is-the-us-a-bigger-oil-importer-or-exporter/ https://www.energy.gov/articles/fact-sheet-delivering-us-oil-and-natural-gas-production https://energyheadlines.com/us-crude-production-to-hit-record-13-41-million-bpd-in-2025-before-falling-eia-says/ https://www.lambdafin.com/articles/us-vs-opec-oil-production permalink fedilink source parent hideshow 1 child comment replies: [–] BillMangionee@lemmy.ml 2 points 5 months ago Thanks for the sources. Personally, I am more concerned about the impact a gas/petrol shortage would have rather than oil as a whole, but this is useful to know. permalink fedilink source parent [–] mirshafie@europe.pub 3 points 5 months ago* Consumption: https://www.eia.gov/energyexplained/oil-and-petroleum-products/use-of-oil.php Production: https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCRFPUS2&f=W Gasoline/Petroleum is rarely imported. The common method is to import the crude and refine on shore, which is what the USA is doing. permalink fedilink source parent
[–] BillMangionee@lemmy.ml 2 points 5 months ago (3 children) Where did you get those numbers? I know for gasoline/petroleum its roughly equal local production and consumption. permalink fedilink source parent hideshow 3 child comments replies: [–] pucker4676@lemmy.ml 6 points 5 months ago* (1 child) The media makes a big deal of it, as if it's something to be proud of. Most useless, wasteful country on the planet. https://outrightpower.substack.com/p/us-oil-production-and-consumption https://usafacts.org/articles/is-the-us-a-bigger-oil-importer-or-exporter/ https://www.energy.gov/articles/fact-sheet-delivering-us-oil-and-natural-gas-production https://energyheadlines.com/us-crude-production-to-hit-record-13-41-million-bpd-in-2025-before-falling-eia-says/ https://www.lambdafin.com/articles/us-vs-opec-oil-production permalink fedilink source parent hideshow 1 child comment replies: [–] BillMangionee@lemmy.ml 2 points 5 months ago Thanks for the sources. Personally, I am more concerned about the impact a gas/petrol shortage would have rather than oil as a whole, but this is useful to know. permalink fedilink source parent [–] mirshafie@europe.pub 3 points 5 months ago* Consumption: https://www.eia.gov/energyexplained/oil-and-petroleum-products/use-of-oil.php Production: https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCRFPUS2&f=W Gasoline/Petroleum is rarely imported. The common method is to import the crude and refine on shore, which is what the USA is doing. permalink fedilink source parent
[–] pucker4676@lemmy.ml 6 points 5 months ago* (1 child) The media makes a big deal of it, as if it's something to be proud of. Most useless, wasteful country on the planet. https://outrightpower.substack.com/p/us-oil-production-and-consumption https://usafacts.org/articles/is-the-us-a-bigger-oil-importer-or-exporter/ https://www.energy.gov/articles/fact-sheet-delivering-us-oil-and-natural-gas-production https://energyheadlines.com/us-crude-production-to-hit-record-13-41-million-bpd-in-2025-before-falling-eia-says/ https://www.lambdafin.com/articles/us-vs-opec-oil-production permalink fedilink source parent hideshow 1 child comment replies: [–] BillMangionee@lemmy.ml 2 points 5 months ago Thanks for the sources. Personally, I am more concerned about the impact a gas/petrol shortage would have rather than oil as a whole, but this is useful to know. permalink fedilink source parent
[–] BillMangionee@lemmy.ml 2 points 5 months ago Thanks for the sources. Personally, I am more concerned about the impact a gas/petrol shortage would have rather than oil as a whole, but this is useful to know. permalink fedilink source parent
[–] mirshafie@europe.pub 3 points 5 months ago* Consumption: https://www.eia.gov/energyexplained/oil-and-petroleum-products/use-of-oil.php Production: https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCRFPUS2&f=W Gasoline/Petroleum is rarely imported. The common method is to import the crude and refine on shore, which is what the USA is doing. permalink fedilink source parent
[–] wheezy@lemmy.ml 3 points 5 months ago (1 child) Is your point to say this is good for the US? Good for Oil companies in the US maybe. On the short term. But oil is a global commodity. The oil goes to whoever is willing to pay. Unless you think Trump is going to nationalize the oil industry. Americans are just as fucked as anyone else. Doesn't matter where the oil comes out of the ground. It matters who is selling it and who is buying. permalink fedilink source parent hideshow 1 child comment replies: [+] DancingBear@midwest.social 1 point 5 months ago (1 child) [removed by mod] permalink fedilink source parent hideshow 1 child comment replies: [–] wheezy@lemmy.ml 2 points 5 months ago All good. Sometimes the context (or lack there of) in which people mention things makes me confuse the intent. permalink fedilink source parent load more comments (-1 replies)
[+] DancingBear@midwest.social 1 point 5 months ago (1 child) [removed by mod] permalink fedilink source parent hideshow 1 child comment replies: [–] wheezy@lemmy.ml 2 points 5 months ago All good. Sometimes the context (or lack there of) in which people mention things makes me confuse the intent. permalink fedilink source parent
[–] wheezy@lemmy.ml 2 points 5 months ago All good. Sometimes the context (or lack there of) in which people mention things makes me confuse the intent. permalink fedilink source parent
[–] SendMePhotos@lemmy.world 2 points 5 months ago You sure it isn't the middle east? permalink fedilink source parent