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We exported more oil then we imported in 2011

Ohiosam

*Supporting Member*
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Mahoning Co.
Who woulda thunk it?

For anyone bummed out about the United States' dependence on foreign oil, try this forecast on for size: The U.S. is on track to be a net exporter of petroleum products this year for the first time in 62 years -- and yet, domestic gas prices remain at or close to record highs for this time of year.

Data released last week by the U.S. Energy Information Administration shows that the U.S. sent abroad 753.4 million barrels of gasoline, diesel and other oil-based fuels in the first nine months of 2011, while taking in only 689.4 million barrels.

The reason? To put it simply, Americans are relying on less, while emerging markets are demanding more.

But so far, that decreased domestic demand hasn't translated into decreased domestic prices at the pump.

“Instead of that product backing up and depressing prices, it’s being sent to other countries,” Tom Kloza, chief oil analyst at the Oil Price Information Service, told the San Francisco Chronicle. “It’s good news for the refining industries and their workers and the balance of trade and U.S. jobs.”

Domestic prices at the pump are at record highs for this time of year, but are actually falling now that we've hit the holiday season. The average price of a gallon of gas is now at $3.27, according to AAA, down 11 cents from two weeks ago and down 20 cents since Halloween.

The economy plays a big role in the latest oil industry numbers. As the U.S. works to rebound from a deep recession, low economic output and high unemployment typically means low domestic demand for petroleum.

"We're not using as much," James Beck, an analyst at the EIA, told the Wall Street Journal. "Prior to 2008, basically anything we produced, we used."

And the high exporting rates are expected to continue into the foreseeable future, Dave Ernsberger, global director of oil at Platts, which tracks energy markets, told the Journal. "The conventional wisdom is that U.S. is this giant black hole sucking in energy from around the world. This changes that dynamic," he said.

The last time the U.S. exported more oil than it imported, in 1949, the country was still ramping up its economy after World War II. It became increasingly dependent on foreign oil, especially in the 1960s and 1970s.


Read more: http://www.foxnews.com/us/2011/12/05/us-on-pace-to-become-net-fuel-exporter/#ixzz1n7Y7Nyj7
 

Huckleberry Finn

Senior Member
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We have an Administration that won't be happy until we don't use any energy at all. It boggles my mind that gas is $1.75 more expensive than when this bozo got into office, and we haven't tar and feathered him yet. Think about how much money we'd all have if it was $1.75 and we could turn back the related cost increases...and what would we have to do? Simply stop exporting. Hell, we wouldn't even have to drill and kill caribou.

It's too simple.
 

"J"

Git Off My Lawn
Supporting Member
56,745
274
North Carolina
Heard this on the radio the other day and was kinda shocked as well... also heard, every drop of gas used in Ohio comes from Canada....
 
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bowhunter1023

Owner/Operator
Staff member
48,879
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Appalachia
We have an Administration that won't be happy until we don't use any energy at all. It boggles my mind that gas is $1.75 more expensive than when this bozo got into office, and we haven't tar and feathered him yet. Think about how much money we'd all have if it was $1.75 and we could turn back the related cost increases...and what would we have to do? Simply stop exporting. Hell, we wouldn't even have to drill and kill caribou.

It's too simple.

So true...
 

Ohiosam

*Supporting Member*
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Mahoning Co.
Heard this on the radio the other day and was kinda shocked as well... also heard, every drop of gas used in Ohio comes from Canada....

Ohio has 3 refineries that I know of. Marathon in Canton and BP in Lima and Toledo. Not sure, maybe the crude comes from Canada.
 

dante322

*Supporting Member*
5,506
157
Crawford county
Of course prices arent gonna come down, why should they? They can charge whatever they want and we will have to pay it. Kinda like insurance, law says we have to hvae it, might as well jack up the prices.
 

Ohiosam

*Supporting Member*
11,709
191
Mahoning Co.
Natural gas prices have come down. You can thank a few TOO members for helping do that. Supply and demand still ultimately set the price.
 

xbowguy

Dignitary Member
Supporting Member
29,633
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Licking Co. Ohio
And if you check into it, we sell out oil mostly for less than we are paying for it....Fuggin Brilliant! Maybe because Import Tax's? I know our oil is more crude............But if someone else can refine it....Why can't we create jobs by building the right refinery.........and bring the cost down by using our own oil.......I need another BEER!
 
This shit just straight out pisses me off!!! :smiley_boos: How much damn money do the gas companies need to make to have "enough"? It might not be so bad if the s.o.b.s didn't brag about their 1st quarter profits being over XXX billions of dollars. Nothing like rubbing our noses in how much they're raping us at the pumps.

I think they've forgotten how the gas price hike crippled the country in '08, going up into the $4+ range...while everyone just sat on their hands at home and the rest of the economy took the hit. Everything from camping, boating, traveling vacations, lodging, etc., etc., had to pay the price for oil companies sucking up all the profits and the rest of the planet sits back and wonders why everyone's sitting at home.

The oil companies should be happy with XXX millions, instead of XXX billions, so that the rest of the country could enjoy what they like to do.

Wow! I may have to go coyote hunting, so that I can kill something. Nuff said. :smiley_arrogant:
Bowhunter57
 

Huckleberry Finn

Senior Member
15,973
135
Natural gas prices have come down. You can thank a few TOO members for helping do that. Supply and demand still ultimately set the price.

Yup. Natural gas is about $2.50 bcf - supply and demand works...the only thing is that supply and demand doesn't work at the gas (oil) pump...too much govt taxation!
 

hickslawns

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Ohio
It might not be so bad if the s.o.b.s didn't brag about their 1st quarter profits being over XXX billions of dollars. Nothing like rubbing our noses in how much they're raping us at the pumps.

Not to sound as if I am standing up for the oil companies, but I think Americans are often mislead here. If you look at the actual percent of the profit margins, the oil companies have THE lowest profit margins of nearly any business. We are talking about sub 1% profit margins. Where the money and profits come from is the sheer amount of product they are moving. This is why we are exporting so much and putting more people to work. The problem with the pricing is more about the government than the actual oil companies. The government has it in the bag and we are pointing our fingers at the oil companies. How about we figure out how to reduce the costs the government throw at the oil companies (which is passed onto the consumers) AND reduce the excessive fuel taxes? We figure out how to do this and our fuel prices should come down.

Yup. Natural gas is about $2.50 bcf - supply and demand works...the only thing is that supply and demand doesn't work at the gas (oil) pump...too much govt taxation!

And due to supply and demand what do you think most of the big natural gas companies are doing right now? Ramping down production. You want to make some money in the next 12-18mo? Buy Chesapeake stock. Sitting at a low right now. Took a big hit in 2011. Reinvesting money into setting up gas stations with natural gas. You want to make some money? Wait for the production in all the big nat gas companies to slow down and let supply and demand meet again. Nat gas jumps up $1-1.50 per mcf and I bet these guys aren't sitting at a low anymore. Not that I am an expert, but I try to look at things logically.
 

Huckleberry Finn

Senior Member
15,973
135
And due to supply and demand what do you think most of the big natural gas companies are doing right now? Ramping down production. You want to make some money in the next 12-18mo? Buy Chesapeake stock. Sitting at a low right now. Took a big hit in 2011. Reinvesting money into setting up gas stations with natural gas. You want to make some money? Wait for the production in all the big nat gas companies to slow down and let supply and demand meet again. Nat gas jumps up $1-1.50 per mcf and I bet these guys aren't sitting at a low anymore. Not that I am an expert, but I try to look at things logically.

Trust me, Phil, I watch the price of natural gas daily...and know all about them ramping down.
 

Jackalope

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Gas this morning in Springfield went from 3:45 to 3:70 overnight. Speedway hasn't changed yet.
 

Jackalope

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Phil is correct but their margins are usually between 5-8%. Which is well in the range is what most companies have as a profit margin. Both Walmart and Exxon have a gross margin of about 25%. But net for Walmart is 4% while it's 7-8% for Exxon.. So their gross profit margin is the same but Exxon is a little better at holding on to it than Walmart.

And Phil is also right about the governent. They make 4x what Exxon makes on a gallon of gas. By the time fees, permits, taxes, registrations, etc etc are all said and done a government body in some form makes up between 40-50% of the price of a gallon of gas.
 
hickslawns said:
The problem with the pricing is more about the government than the actual oil companies. The government has it in the bag and we are pointing our fingers at the oil companies.
Sorry, buddy...can't agree with you on this one. The oil companies' taxes aren't fluctuating, but their pricing certainly is all over the place. Speculation is part of the problem. The oil companies own analysts have too much influence over the oil companies' pricing and we see it every time an oil refinery blows up or has some sort of problem. An oil refiinery in Washington state just went sour on Monday and the next thing you know, up go the gas prices...more than usual.

Or there's another problem in the middle east and up goes the gas prices. Like the gas that's currently in the ground at the gas station cost them any more, because of what's currently happening. If they wanted to be more realistic about current events, a price increase should be reflected as it effected the drilling/refining, not based on the speculation of what may or may not happen.

I worked at the Lima Refinery for over 6 years and got my eyes opened as to how much BS is wrote off as expenses and how much the EPA looks the other way on spills and other events (no $ involved there :smiley_arrogant: )...this stuff costs money, that we pay for at the pumps. They're gonna recoupe their losses some where and like any other business, it gets handed on down to the customer. :smiley_depressive:

Bowhunter57
 

Jackalope

Dignitary Member
Staff member
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Sorry, buddy...can't agree with you on this one. The oil companies' taxes aren't fluctuating, but their pricing certainly is all over the place. Speculation is part of the problem. The oil companies own analysts have too much influence over the oil companies' pricing and we see it every time an oil refinery blows up or has some sort of problem. An oil refiinery in Washington state just went sour on Monday and the next thing you know, up go the gas prices...more than usual.

Or there's another problem in the middle east and up goes the gas prices. Like the gas that's currently in the ground at the gas station cost them any more, because of what's currently happening. If they wanted to be more realistic about current events, a price increase should be reflected as it effected the drilling/refining, not based on the speculation of what may or may not happen.

I worked at the Lima Refinery for over 6 years and got my eyes opened as to how much BS is wrote off as expenses and how much the EPA looks the other way on spills and other events (no $ involved there :smiley_arrogant: )...this stuff costs money, that we pay for at the pumps. They're gonna recoupe their losses some where and like any other business, it gets handed on down to the customer. :smiley_depressive:

Bowhunter57

But the government is making more on a gallon of gas than Exxon is. Yet we point the finger at Exxon. I think that was the point Phil was trying to make there.