Biden and Oil

2,601 Views | 9 Replies | Last: 3 yr ago by Stringfellow Hawke
LatinAggie1997
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10:44a, 11/25/22
AG
https://abc13.com/biden-plans-largest-oil-export-terminal-texas-gulf-coast-us-capacity-sea-port/12490194/
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techno-ag
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In reply to LatinAggie1997 • 12:58p, 11/25/22
AG
If we export the oil we can't sell it here for cheap. The Dems want high energy prices to encourage shifting to green.
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themissinglink
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1:51p, 11/25/22
AG
Lots to criticize on this administration's energy policy, but this isn't one of them.
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LatinAggie1997
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In reply to themissinglink • 1:55p, 11/25/22
AG
I see it at a double edged sword.

I fear it will be one of these situations - "if you pray for rain don't complain about the mud".
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Sea Speed
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In reply to techno-ag • 2:00p, 11/25/22
AG
I wonder what this will do to the lightering industry which is booming in the gulf. If they also make it an import terminal that would be terrible for it.
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GAC06
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5:58p, 11/25/22
AG
Sad that a president "allowing" energy infrastructure to be built results in a headline like "Biden plans new export terminal".

The story should be why is a president or administration involved at all.
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HeightsAg
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In reply to techno-ag • 11:06p, 11/25/22
techno-ag said:
If we export the oil we can't sell it here for cheap. The Dems want high energy prices to encourage shifting to green.
That's not how it works. Domestic refinery capacity for US crude is the bottleneck. If we couldn't export it, most wouldn't get produced.
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jja79
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11:09p, 11/25/22
AG
How can we export a product we're shutting down?
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techno-ag
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In reply to HeightsAg • 7:36a, 11/26/22
AG
HeightsAg said:
techno-ag said:
If we export the oil we can't sell it here for cheap. The Dems want high energy prices to encourage shifting to green.
That's not how it works. Domestic refinery capacity for US crude is the bottleneck. If we couldn't export it, most wouldn't get produced.
Most of it is blended for domestic refineries. Regardless, inventories are a key metric for futures. Exporting more will lower inventories and boost prices.
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Stringfellow Hawke
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3:09p, 11/26/22
AG
Go look up what Biden and Company plan to do with 401K savings and green energy
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