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by hollerith
2408 days ago
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Some good news for you then: the US no longer needs a navy to ensure a steady stream of oil for itself. The combination of the US and Canada has been producing all the oil the combination needs for a year or 2 now. Everyone in the industry says it is only a matter of time before the US will be able to produce all the oil the US needs. Whether that happens next year or 5 years from now depends on pricing and production decisions made by the OPEC producers. I wouldn't be surprised if in 8 or 10 years the US will be in a position to guarantee a steady supply of oil to one of its strategic partners: the UK or Japan, say. But this has thread has gotten off track because like grandparent already pointed out, Amtrak run on oil, too. I suppose your reply to that is that it is easier to convert Amtrak to renewables than to convert the highway system to renewables |
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There's more to it than that.
first, oil is a commodity product traded around the world, so, say, if Indonesian (offshore) oilfields go offline, china will simply buy from the saudis, which will drive up the price of Saudi oil and encourage US producers to export instead. Now rising price encourages local production, but most of it can't be switched on and off in a instant.
And in fact they already both import and export; for example tar sands "oil" from Canada is removed with a shovel, not a pipe. Refining it is very expensive (and energy demanding) so only gets mined when the price of oil is high enough to justify it. Currently the US exports about as much oil as it imports.
Lots of great stats on this topic from the Energy Information Administration (though some of the important statistics stopped being collected last year, alas). Here is the petroleum import & export page: https://www.eia.gov/energyexplained/oil-and-petroleum-produc...