In terms of 100% domestication of our petroleum industry, one thing we are reportedly short on is refining capacity for certain fractions such as solvents used in semiconductor production. For these, as I understand it, we export light crude and import the produced materials. But there's no reason we can't build out our custom refining c…
In terms of 100% domestication of our petroleum industry, one thing we are reportedly short on is refining capacity for certain fractions such as solvents used in semiconductor production. For these, as I understand it, we export light crude and import the produced materials. But there's no reason we can't build out our custom refining capacity here, circumventing any international price pressures.
I've spent 40 years in oil. You are right. Some other details. There has NEVER been any ban on exporting refined products, only crude oil.
Refineries make a range of products. When we export a lot of - maybe that semiconductor wash, we also make more of every other liquid in the distillation tower - so exporting chip-wash lowers gasoline prices.
Exporting US crude is basically zero profit, because while we have a lot of oil, we ran out of cheap oil over 50 years ago. We have to sell at nearly zero profit to export crude.
Gasoline has been cheap because they have to run the refinery to get the high demand stuff. That's why diesel is expensive now - many more trucks on the road than 30 years ago. Thank you truckers for lowering gasoline prices. Please delay the switch to zero emissions ammonia, which we now know works great as diesel fuel.
To reduce the price of gasoline, we need to ban exports of crude oil, incentivizing oil companies to export more refined products, which will be more profitable with cheaper crude oil.
Capitalism really works if the playing field is kept level and you pull the right levers
In terms of 100% domestication of our petroleum industry, one thing we are reportedly short on is refining capacity for certain fractions such as solvents used in semiconductor production. For these, as I understand it, we export light crude and import the produced materials. But there's no reason we can't build out our custom refining capacity here, circumventing any international price pressures.
I've spent 40 years in oil. You are right. Some other details. There has NEVER been any ban on exporting refined products, only crude oil.
Refineries make a range of products. When we export a lot of - maybe that semiconductor wash, we also make more of every other liquid in the distillation tower - so exporting chip-wash lowers gasoline prices.
Exporting US crude is basically zero profit, because while we have a lot of oil, we ran out of cheap oil over 50 years ago. We have to sell at nearly zero profit to export crude.
Gasoline has been cheap because they have to run the refinery to get the high demand stuff. That's why diesel is expensive now - many more trucks on the road than 30 years ago. Thank you truckers for lowering gasoline prices. Please delay the switch to zero emissions ammonia, which we now know works great as diesel fuel.
To reduce the price of gasoline, we need to ban exports of crude oil, incentivizing oil companies to export more refined products, which will be more profitable with cheaper crude oil.
Capitalism really works if the playing field is kept level and you pull the right levers