U.S. and German support for Russian Oil & Gas

[Tom Kirkman + 8,860]

Heck, let's just pour some fuel on this dumpster fire.  The bizarre geopolitical relationships concerning international oil & gas make for entertaining soap opera.

Forbes decides to poke the Russia collusion oil angle just for kicks and giggles:

The U.S. Spends Billions Annually On Russian Oil

At this week’s NATO meeting in Brussels, President Trump criticized Germany’s reliance on Russian natural gas:

“Germany is totally controlled by Russia. They will be getting between 60 and 70 percent of their energy from Russia and a new pipeline.”

... This led me to wonder, by comparison, what percentage of U.S. oil imports are being provided by Russia. U.S. reliance of oil imports has fallen as shale oil production has ramped up. Russian oil imports peaked at 624,000 barrels per day in 2011. However, in 2017 the U.S. still imported 384,000 barrels per day of crude oil and products from Russia:

Incidentally, assuming $50 per barrel for those barrels means the U.S. spent about $7 billion on Russian oil in 2017.

Total U.S. imports in 2017 were 10.075 million barrels per day. The Russian contribution was then about 3.8% of U.S., certainly not in the range of Germany’s reliance on Russian natural gas.

Russian-Crude-Imports.webp

Russian-Crude-Imports.webp

[Guillaume Albasini + 851]

Thinking in a trumpian way we could say :

"USA are totally controlled by Canada. They are getting 40 percent of their oil imports from Canada."

 

In 2017 Canada's GDP was 8.5% of US GDP

In 2017 Russia's GDP was 8.8% of European Union GDP

[Tom Kirkman + 8,860]

14 minutes ago, Guillaume Albasini said:

Thinking in a trumpian way we could say :

"USA are totally controlled by Canada. They are getting 40 percent of their oil imports from Canada."

 

In 2017 Canada's GDP was 8.5% of US GDP

In 2017 Russia's GDP was 8.8% of European Union GDP

Heh heh.

The politics of international oil & gas can be Theatre of the Absurd.

[Epic + 390]

On 7/12/2018 at 7:14 PM, Guillaume Albasini said:

"USA are totally controlled by Canada. They are getting 40 percent of their oil imports from Canada."

^This is completely wrong.  You are comparing apples to oranges.  

 

Last quarter, Germany only produced 40,000 barrels of oil per day, but consumed 2.4 million-ish.  This means they are heavily reliant on oil imports to meet their oil demands, thus importing over 98% of their needed oil.  Of that 98%, over 60%-ish comes from Russia. 

In comparison, US consumes 20 million, but since we also produce 11 million, we only import 4 million from Canada.  Thus, we have the following totals:

Germany is 98%*60% = 58.8% oil dependent upon Russia.          Over half!

USA is 4 million / 20 million = 20% dependent upon Canadian oil.  Less than a quarter!

Having less than a quarter of your demands dependent upon your "ally" might be considered alarming.  However, having more than half of your oil demands dependent upon your "enemy" is more than just alarming, it is a huge threat to national security.  ...or in the words of Trump: "It is a yuuuuuuuge threat."     

Nothing quite says "you better watch out for our military" like a solar-powered tank, which the Germans will need when the Russians shut off the spigot.  

Edited July 14, 2018 by Epic
typo