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by throwaway5752
2362 days ago
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This US is nowhere close to net crude export. We export refined products and NGL. We have reduced dependency on ME crude, yes, but Mexican and Canadian market are priced internationally and are not captive sellers. edit: to discourage deep threading they don't show the reply button in a thread for a cooling off period. edit 2: the "US net exported crude and other petroleum [products] in September" statement does not appreciate "other petroleum products" part. The US imports lots of crude from Mexico and Canada (and the ME), and export the refined products because of the US's very large refining capacity and pipeline/terminal infrastructure. We also create NGL as a fracking byproduct since the lighter fractions don't have the domestic demand but can be collected and shipped in economically. This isn't even getting into the tail production economics of a fracking well and if it is viable long-term. In any case, the September news isn't as positive as it sounds. |
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