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Who The US Imports Crude Oil From
There is energy independence, and then there are crude oil imports, which according to just released and revised Census data, amounted to 233,215 thousand barrels in April, and 914,456 thousand barrels year to date (just under 3 billion annualized). For those unaware who the most important US crude oil trading partners are, here is the updated list of the main countries that serve to fuel America's industrial infrastructure and its engines, in the off chance that the Tesla electric revolution fails to deliver.
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You didn't need that disposable income anyway.
You might have spent it on stuff you don't really need like groceries, health care, or other personal items to make your life more comfortable.
Wall Street and the Oil Majors need their cut just like the government.
@Tombstome: "So why isn't some of that imported supply staying in the northern states?"
Um, because you can't put that stuff in your tank, and because the refineries are on the Gulf coast!? Those here who know a phrack of a lot more about the oil/gas/refining industry than I do, will probably tell you that our capacity is gated by "refining capacity" (and location), not by the raw supply itself.
Also, for those with a flair for economic history, was it not 'refineries' that made John Rockefeller (JR) obscenely rich & powerful? What's changed? If you remember a ZH post of "The Men who Built America" (YouTube links to History Channel episodes)
http://www.zerohedge.com/news/2013-02-21/men-who-built-america-rememberi... ,
Carnegie used his steel to build the railroads for shipping the Standard oil, but got greedy and hiked the rail prices to the point where JR built his own pipelines. JPM used his $M-power to eventually bring it all under his roof. Getting "Morganized" became an expression: Reduce excessive competition to milder competition, and thus raise profits for all.
Does the railway/pipeline fight sound familiar? It should. Warren Buffet did not invent anything new. This rich old coot simply recycled an old biz model that worked like a charm.
/ But, by all means, let's keep digressing with irrelevant/noise comments about the price of gas in Trolltown or Hicksville. /s
Pretty much every other country on the list besides Canada is state owned oil. When the US imports from Canada, much of it they own already in the form of US investment. I have no problem with that.. That is how capitalism works. Without foreign private investment, the oil sands (and the jobs & royalties) they provide would not be as large. Canadians own a fair bit of American oil cos as well. It is no accident that American and Canadian oil tech is in big demand world wide. We both know how to pull oil from the ground economically.
http://www.theglobeandmail.com/report-on-business/international-business/how-much-of-canadas-energy-resource-lies-in-foreign-hands/article5937249/
Hi there Yanks. Up here in Canada we're thinking about asking for gold for the oil. And we're ready here in Ontario to defend the Niagara river. Don't try it, it will be like 1814 when we got so pissed off that we came down and burned the white house down. Or you might get shot.
I hope the administration kills the Keystone, let's just keep the oil here in Canada.
..
But Im sure in Ontario you would want Americans to buy everything else you (used to) manufacture. Can't have it both ways partner. And speaking as a Canadian, there is no way in hell I'm sending my sons down to the US to burn anything except maybe some cash in Vegas.
Just for that, we're just gonna piss you off again.
Please feel free to head south and burn D.C. to the ground.
You'd probably find a lot of Yanks pretending to be Canuks, eh!
So, you're going to come "down and burn the white house down", eh? Sure you will. I double-dog-dare ya.
But first, please post the date of your intended operation here at ZH.
We don't live all that far away, so we'll bring marshmallows and weenies.
In fact, we'll make a kind of American Guy Fawkes day of it, tossing effigies of our Congresscritters in.
Oops, that wasn't an effigy. Darn.
At this point you'd thank us if we pulled it off.
Apparently your Canadian History teachers sucked, or you did. 'Canada' did not exist back then. Upper and Lower Canada were British and French colonies. The obedient Colonials (serfs) simply did what the British and French Crowns dictated, and used their troops to fight the Americans -- their common enemy, in America's expansionist phase of "Manifest Destiny". And Manifest Destiny has simply gone global in recent decades (since WW2). According to my teachers in Peel and Simcoe Counties.
I'd like to see Canada (and every oil-producing country) have its own refineries, but that would be too dangerous for US's Big Oil (Rockefeller and Exxon-Mobil). So they have successfully funded dumb-ass 'Environmentalists' to oppose new refineries for decades. Having a refinery in SARNIA (by expanding existing infrastructure) would be the rational and shrewd thing to do. But don't hold your breath... too much Big-Money lobbying and manipulation of malleable 'environmentalists' at play.
But I get your light-hearted humor (hand have up-ticked you anyway). Eh.
Oh, I forgot, here in Canada our greatest export to the Excited States of America is not oiul, it's the Canada Goose.
We call them Sky Carp.
..
On the other hand, before you Canucks get too far off in your delusions of superiority, don't forget that your country lives in our shadow, and is also known as American's Hat. Most of you have been disarmed, and wouldn't make it past the Pennsylvania border (since New Yorkers are similarly disarmed).
Your country is even more of a politically correct police state than ours, so if it's torching you're up to then charity starts at home. And remember, the next time our country starts another one of those damned imperial, expeditionary wars, you assholes will be fighting it, too - again. The politicians are different, but the banking systems are the same.
We're gonna start calling them Canuck-Drones.
"...in the off chance that the Tesla electric revolution fails to deliver..."
it's a Lotus Elise, an amazing (i bought an early one) small sportscar for its Lotus addiction to light weight, "less is more" as Colin Chapman used to say
only Tesla had the genius idea to nullify the Elise's light weight advantage by piling half a ton of acidic battery acid into its almiminiun chassis and stunting its touring range to practically a 50 mile redius around your home ...round, and round and round ..I've seen this movie/road before 200 times already yes?!
the Tesla is an abomination at every level and from every angle
oh and you can buy the Lotus Elise, unsubsidised by State, for half the price... it's the no-brainer car choice of the century
the diva ego meddling of GOOfballs diversification strategy/disaster continues
DAM,
Tyler.
This Article really hit an indirect "Home-run".
From what you and yours do through your version of sharing, to those who participate in this site.
CHEERS.
How can a person not respect so many people.
Pens,
Ps. The symbiotic relationship between the USA and Canada is real. Yet, the bigger question is, "Will the people of these two nations respect and know the difference between the people, the buraucracies, the corporations, and the governments as this curtain continues to fall?"
I would love to see a comparison of YoY 2003, 2008, 2013.....
WTF
North American continentalism, bitchez.
Lets show the others to the door.
we are the saudi arabia of coal, we have LNG and we never really did nuke in a serious way... what energy crisis... we have a POLITICAL CRISIS... lack of a leader with American intersts at heart..... versus corrupt crony capitalism. Ever think that Bakken wells must truck the frickin oil to a rail to move it (thanks Warren/Obama).. pipelines woudl incetivize more production. Wew kkep running out of oil (peak oil) but we keep finding more and more... One theory ahs it that it is a naturally produced substance and not fossil reamains... I mean how many dinosoars were there after all... The national strategic plan by the oil companies was to deplete the rest of the world's resources, the farthest ones first (middle east) and then use our own... OIl companies know what they are doing and do it very well. I dont think we have any idea of the secret deals cut between kings, mullahs, dictators and oil companies and posted price (the apparent deal) versus the real deal...