Smokey Mtn. Dinar Posted June 29, 2022 Report Share Posted June 29, 2022 A whole lot of truth about gas prices, and to those that say: "the president doesn't set the price of gas"... pay close attention and maybe read it twice: From a production worker in a refinery on the Gulf of Mexico: "You've been lied to by the President and his phony cronies, but I want to set the record straight. I'm going to tell you the truth, so pay attention".... 1. There is enough recoverable crude oil within the continental US to supply current and projected future demand for 400+ years, and that's just the oil we know about. It doesn't account for future discoveries. That's a fact... 2. We do not need to import a SINGLE DROP of foreign crude oil. The domestic oil industry can easily meet, and even surpass domestic demand. We've done it before, and we can do it again. That's a fact... 3. The domestic oil industry currently cannot satisfy domestic demand due to oil drilling restrictions imposed by the federal government. That's a fact... 4. The price of EVERYTHING revolves around oil, and the law of supply vs demand dictates the price of oil. When oil is plentiful, commodities are cheap. When oil is scarce, commodities are more expensive. Right now, domestic oil is scarce, and the price of everything is high because of these restrictions imposed by the federal government. That's a fact… 5. We import foreign oil from countries that drill and produce it much cheaper than we're able to because they do not implement all of the environmental safeguards that we do. Their methods are FAR more destructive to the environment than ours are. That's a fact... 6. Every year, the federal government leases tracts of land to oil companies so they can explore on it for oil. If enough oil is found during exploration, the company can then apply for a drilling permit which allows them to drill a well. If no oil is found during exploration, or if the amount found is not enough to be profitable the lease expires without ever being drilled on. Leases that are active, but not being drilled on does NOT mean that oil companies are being lazy, or are trying to keep the oil for themselves, etc. etc. It means they've either explored the lease for oil and found nothing, or found oil but it's not enough to justify drilling for. That's a fact... 7. it’s not Russia's fault, or China's fault, or Ukraine, or India, or Venezuela, or Iran, or Bangladesh, or any other countries' fault as to why everything is so expensive right now. It's Joe Biden's fault, because he is suppressing the domestic oil industry for political gain. EVERYTHING depends on crude oil... but you might not know that if you believe the lies that are being told about oil and the oil industry. 2 2 4 Quote Link to comment Share on other sites More sharing options...
coorslite21 Posted July 1, 2022 Report Share Posted July 1, 2022 The proxy War in Ukraine...? Russia gets richer, you and I get poorer..... CL Visual Capitalist SUBSCRIBE ENERGY Who’s Still Buying Fossil Fuels From Russia? Published 2 days ago on June 28, 2022 By Niccolo Conte Article/Editing: Govind Bhutada Graphics/Design: Sam Parker Clayton Wadsworth Subscribe to the Elements free mailing list for more like this The Largest Importers of Russian Fossil Fuels Since the War This was originally posted on Elements. Sign up to the free mailing list to get beautiful visualizations on natural resource megatrends in your email every week. Despite looming sanctions and import bans, Russia exported $97.7 billion worth of fossil fuels in the first 100 days since its invasion of Ukraine, at an average of $977 million per day. So, which fossil fuels are being exported by Russia, and who is importing these fuels? The above infographic tracks the biggest importers of Russia’s fossil fuel exports during the first 100 days of the war based on data from the Centre for Research on Energy and Clean Air (CREA). In Demand: Russia’s Black Gold The global energy market has seen several cyclical shocks over the last few years. The gradual decline in upstream oil and gas investment followed by pandemic-induced production cuts led to a drop in supply, while people consumed more energy as economies reopened and winters got colder. Consequently, fossil fuel demand was rising even before Russia’s invasion of Ukraine, which exacerbated the market shock. Russia is the third-largest producer and second-largest exporter of crude oil. In the 100 days since the invasion, oil was by far Russia’s most valuable fossil fuel export, accounting for $48 billion or roughly half of the total export revenue. Fossil fuel Revenue from exports (Feb 24 - June 4) % of total Russian fossil fuel export revenue Crude oil $48.3B 49.4% Pipeline gas $25.2B 25.8% Oil products $13.6B 13.9% Liquified Natural Gas (LNG) $5.4B 5.5% Coal $5.0B 5.1% Total $97.7B 100% While Russian crude oil is shipped on tankers, a network of pipelines transports Russian gas to Europe. In fact, Russia accounts for 41% of all natural gas imports to the EU, and some countries are almost exclusively dependent on Russian gas. Of the $25 billion exported in pipeline gas, 85% went to the EU. The Top Importers of Russian Fossil Fuels The EU bloc accounted for 61% of Russia’s fossil fuel export revenue during the 100-day period. Germany, Italy, and the Netherlands—members of both the EU and NATO—were among the largest importers, with only China surpassing them. Country Value of fossil fuel imports from Russia (Feb 24 - Jun 4) % of Russian fossil fuel export revenue China $13.2B 13.5% Germany $12.7B 12.9% Italy $8.2B 8.4% Netherlands $8.2B 8.4% Turkey $7.0B 7.2% Poland $4.6B 4.7% France $4.5B 4.6% India $3.6B 3.7% Other $35.7B 36.5% Total $97.7B 100% China overtook Germany as the largest importer, importing nearly 2 million barrels of discounted Russian oil per day in May—up 55% relative to a year ago. Similarly, Russia surpassed Saudi Arabia as China’s largest oil supplier. The biggest increase in imports came from India, buying 18% of all Russian oil exports during the 100-day period. A significant amount of the oil that goes to India is re-exported as refined products to the U.S. and Europe, which are trying to become independent of Russian imports. Reducing Reliance on Russia In response to the invasion of Ukraine, several countries have taken strict action against Russia through sanctions on exports, including fossil fuels. The U.S. and Sweden have banned Russian fossil fuel imports entirely, with monthly import volumes down 100% and 99% in May relative to when the invasion began, respectively. On a global scale, monthly fossil fuel import volumes from Russia were down 15% in May, an indication of the negative political sentiment surrounding the country. It’s also worth noting that several European countries, including some of the largest importers over the 100-day period, have cut back on Russian fossil fuels. Besides the EU’s collective decision to reduce dependence on Russia, some countries have also refused the country’s ruble payment scheme, leading to a drop in imports. The import curtailment is likely to continue. The EU recently adopted a sixth sanction package against Russia, placing a complete ban on all Russian seaborne crude oil products. The ban, which covers 90% of the EU’s oil imports from Russia, will likely realize its full impact after a six-to-eight month period that permits the execution of existing contracts. While the EU is phasing out Russian oil, several European countries are heavily reliant on Russian gas. A full-fledged boycott on Russia’s fossil fuels would also hurt the European economy—therefore, the phase-out will likely be gradual, and subject to the changing geopolitical environment. Support the Future of Data Storytelling Sorry to interrupt your reading, but we have a favor to ask. At Visual Capitalist we believe in a world where data can be understood by everyone. That’s why we want to build the VC App - the first app of its kind combining verifiable and transparent data with beautiful, memorable visuals. All available for free. As a small, independent media company we don’t have the expertise in-house or the funds to build an app like this. So we’re asking our community to help us raise funds on Kickstarter. If you believe in data-driven storytelling, join the movement and back us on Kickstarter! Thank you. Subscribe to our free newsletter and get your mind blown on a daily basis: Sign up RELATED TOPICS:ChinaOilEnergyNatural GasIndiaGasRussiaUnited StatesLngExportsImportsUkraineEuropeEuGermanyUSInternational TradeFranceFossil FuelsEnergy TransitionEnergy DependenceFinlandRussian Oil ExportsSweden DON'T MISS Mapped: Which Ports are Receiving the Most Russian Fossil Fuel Shipments? CLICK FOR COMMENTS YOU MAY ALSO LIKE 3 Insights From the FED’s Latest Economic Snapshot Mapped: Which Ports are Receiving the Most Russian Fossil Fuel Shipments? Visualizing the Coming Shift in Global Economic Power (2006-2036p) Explainer: What Drives Gasoline Prices? Visualizing Well-Known Airlines by Fleet Composition Ranked: Visualizing the Largest Trading Partners of the U.S. OIL AND GAS How Affordable is Gas in Latin America? This graphic looks at gas affordability in Latin America, showing how much a liter of gas costs in 19 countries, relative to average incomes. CREATOR PROGRAM Published 1 week ago on June 22, 2022 By Carmen Ang How Affordable is Gas in Latin America? As gas prices have risen around the world, not each region and country is impacted equally. Globally, the average price for a liter of gas was $1.44 USD on June 13, 2022. But the actual price at the pump, and how affordable that price is for residents, varies greatly from country to country. This is especially true in Latin America, a region widely regarded as one of the world’s most unequal regions in terms of its income and resource distribution. Using monthly data from GlobalPetrolPrices.com as of May 2022, this graphic by Latinometrics compares gas affordability in different countries across Latin America. Gas Affordability in 19 Different Latin American Countries To measure gas affordability, Latinometrics took the price of a liter of gas in 19 different Latin American countries and territories, and divided those figures by each country’s average daily income, using salary data from Statista. Out of the 19 regions included in the dataset, Venezuela has the most affordable gas on the list. In Venezuela, a liter of gas is equivalent to roughly 1.3% of the country’s average daily income. Search: Country Gas price as of May 2022 (USD) % of average daily income Nicaragua $1.37 14.0% Dominican Republic $1.41 12.6% Brazil $1.43 12.5% Paraguay $1.39 12.2% Peru $1.53 10.2% Uruguay $1.92 9.8% El Salvador $1.14 9.2% Honduras $1.33 8.6% Mexico $1.17 7.8% Guatemala $1.44 7.7% PreviousNext This isn’t too surprising, as Venezuela is home to the largest share of proven oil reserves in the world. However, it’s worth noting that international sanctions against Venezuelan oil, largely because of political corruption, have hampered the once prosperous sector in the country. On the other end of the spectrum, Nicaragua has the least affordable gas on the list, with one liter of gas costing 14% of the average daily income in the country. Historically, the Nicaraguan government has not regulated gas prices in the country, but in light of the current global energy crisis triggered in large part by the Russia-Ukraine conflict, the government has stepped in to help control the situation. As the Russia-Ukraine conflict continues with no end in sight, it’ll be interesting to see where prices are at in the next few months. CONTINUE READING ENERGY Mapped: Which Ports are Receiving the Most Russian Fossil Fuel Shipments? Russia’s energy exports have become a hot topic. See which ports received fossil shipments during the first 100 days of the Ukraine invasion Published 2 weeks ago on June 14, 2022 By Nick Routley As the invasion of Ukraine wears on, European countries are scrambling to find alternatives to Russian fossil fuels. In fact, an estimated 93% of Russian oil sales to the EU are due to be eliminated by the end of the year, and many countries have seen their imports of Russian gas plummet. Despite this, Russia earned €93 billion in revenue from fossil fuel exports in the first 100 days of the invasion. While the bulk of fossil fuels travel through Europe via pipelines, there are still a number marine shipments moving between ports. The maps below, using data from MarineTraffic.com and Datalastic, compiled by the Centre for Research on Energy and Clean Air (CREA), are a look at Russia’s fossil fuel shipments during the first 100 days of the invasion. Russia’s Crude Oil Shipments Much of Russia’s marine shipments of crude oil went to the Netherlands and Italy, but crude was also shipped as far away as India and South Korea. India became a significant importer of Russian crude oil, buying 18% of the country’s exports (up from just 1%). From a big picture perspective, India and China now account for about half of Russia’s marine-based oil exports. It’s important to note that a broad mix of companies were involved in shipping this oil, with some of the companies tapering their trade activity with Russia over time. Even as shipments begin to shift away from Europe though, European tankers are still doing the majority of the shipping. Russia’s Liquefied Natural Gas Shipments Unlike the gas that flows along the many pipeline routes traversing Europe, liquefied natural gas (LNG) is cooled down to a liquid form for ease and safety of transport by sea. Below, we can see that shipments went to a variety of destinations in Europe and Asia. Fluxys terminals in France and Belgium stand out as the main destinations for Russian LNG deliveries. Russia’s Oil Product Shipments For crude oil tankers and LNG tankers, the type of cargo is known. For this dataset, CREA assumed that oil products tankers and oil/chemical tankers were carrying oil products. Huge ports in Rotterdam and Antwerp, which house major refineries, were the destination for many of these oil products. Some shipments also went to destinations around the Mediterranean as well. All of the top ports in this category were located within the vicinity of Europe. Russia’s Coal Shipments Finally, we look at marine-based coal shipments from Russia. For this category, CREA identified 25 “coal export terminals” within Russian ports. These are specific port locations that are associated with loading coal, so when a vessel takes on cargo at one of these locations, it is assumed that the shipment is a coal shipment. The European Union has proposed a Russian coal ban that is expected to take effect in August. While this may seem like a slow reaction, it’s one example of how the invasion of Ukraine is throwing large-scale, complex supply chains into disarray. With such a heavy reliance on Russian fossil fuels, the EU will be have a busy year trying to secure substitute fuels – particularly if the conflict in Ukraine continues to drag on. 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Pitcher Posted July 1, 2022 Report Share Posted July 1, 2022 Great post CL. It makes perfect sense to shut down US oil and gas production so they have to buy from our enemies. It makes perfect sense to one Political Party who wants to drive up inflation, take away thousands of good paying jobs, and ruin the world’s recovering economies. Yes, Biden did this. 2 1 1 7 Quote Link to comment Share on other sites More sharing options...
md11fr8dawg Posted July 1, 2022 Report Share Posted July 1, 2022 And make no mistake about it, IT IS INTENTIONAL!!! 2 1 1 6 Quote Link to comment Share on other sites More sharing options...
md11fr8dawg Posted July 4, 2022 Report Share Posted July 4, 2022 Shabs, again you seemed confused. I know it is hard for a liberal to wrap their mind around anything, because there is so little mind to wrap, but this might help. Far too many people think we're dealing with incompetence -- but is it? More and more it looks like intentional sabotage. Good Points "If you leave a gate open, a cow will wander off. So if you intentionally left the gate open, you wanted the cow to wander off. You can't blame stupidity or laziness. It was intentional. If you cut police budgets, you will get more crime on the streets. So if you intentionally cut police budgets, you wanted more crime on the streets. If you cut back the supply of oil, gas prices will go up. So if you intentionally cut back the supply of oil, you wanted gas prices to go up. If you print trillions of dollars without increasing the supply of goods, inflation will hit hard. So if you intentionally print trillions of dollars without more goods you wanted inflation to hit hard. If you leave the southern border wide open, you get more drug trafficking and human trafficking. So if you intentionally leave the border wide open, you wanted more drug trafficking and human trafficking. If you shut down 40% of the supply of baby formula in February, you'll get a huge shortage. When you KNOW a huge baby formula shortage is coming because of the FDA's actions, and you purposefully do nothing to prevent it, month after month, until the crisis finally hits hard, you INTENDED this crisis. It is time to recognize the evil people behind that old man. They want crisis. They want chaos. They want riots. They want conflicts in your town. Their stated purpose years ago with Obama was to "take the US down a few notches on the world stage." You can feel the quality of your life going down with the country. These are foolish, misguided people. They are headed somewhere you don't want to go. 1 1 5 Quote Link to comment Share on other sites More sharing options...
Shelley Posted July 4, 2022 Report Share Posted July 4, 2022 26 minutes ago, md11fr8dawg said: Shabs, again you seemed confused. I know it is hard for a liberal to wrap their mind around anything, because there is so little mind to wrap, but this might help. Far too many people think we're dealing with incompetence -- but is it? More and more it looks like intentional sabotage. Good Points "If you leave a gate open, a cow will wander off. So if you intentionally left the gate open, you wanted the cow to wander off. You can't blame stupidity or laziness. It was intentional. If you cut police budgets, you will get more crime on the streets. So if you intentionally cut police budgets, you wanted more crime on the streets. If you cut back the supply of oil, gas prices will go up. So if you intentionally cut back the supply of oil, you wanted gas prices to go up. If you print trillions of dollars without increasing the supply of goods, inflation will hit hard. So if you intentionally print trillions of dollars without more goods you wanted inflation to hit hard. If you leave the southern border wide open, you get more drug trafficking and human trafficking. So if you intentionally leave the border wide open, you wanted more drug trafficking and human trafficking. If you shut down 40% of the supply of baby formula in February, you'll get a huge shortage. When you KNOW a huge baby formula shortage is coming because of the FDA's actions, and you purposefully do nothing to prevent it, month after month, until the crisis finally hits hard, you INTENDED this crisis. It is time to recognize the evil people behind that old man. They want crisis. They want chaos. They want riots. They want conflicts in your town. Their stated purpose years ago with Obama was to "take the US down a few notches on the world stage." You can feel the quality of your life going down with the country. These are foolish, misguided people. They are headed somewhere you don't want to go. You’re talking to Shabs and Caddie that actually believe Biden Boyz Inc when he says Putin is to blame for all the high prices !!!! 🤦🏻♀️ 1 1 Quote Link to comment Share on other sites More sharing options...
md11fr8dawg Posted July 5, 2022 Report Share Posted July 5, 2022 I am indeed!! 1 Quote Link to comment Share on other sites More sharing options...
md11fr8dawg Posted July 6, 2022 Report Share Posted July 6, 2022 Thanks for the down vote Shabs. At least you made a decision instead of being confused. Guess that intentional logic thing was a bit too much truth for your confused mind to comprehend!! 2 Quote Link to comment Share on other sites More sharing options...
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