Weekly U.S. Imports of Crude Oil. No, the U.S. is NOT oil & gas self-sufficient.

[Tom Kirkman + 8,860]

To counter the hyperbole about the U.S. being energy independent.  While the U.S. currently exports more crude oil than it imports, the U.S. is very clearly NOT "energy independent".

 

 

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCRIMUS2&f=W

 

[0R0 + 6,251]

That is a matter of matching crude grades to refineries. It will change over time, I am thinking burned down refineries might be rebuilt for LTO. I think that is the rational part of the Mexican new refinery idea, as it could be optimized for LTO. 

[Boat + 1,323]

On 2/12/2020 at 10:45 AM, Tom Kirkman said:

To counter the hyperbole about the U.S. being energy independent.  While the U.S. currently exports more crude oil than it imports, the U.S. is very clearly NOT "energy independent".

 

 

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCRIMUS2&f=W

 

https://www.eia.gov/opendata/embed.php?type=chart&series_id=PET.MTTNTUS2.M&date_mode=all
 

Tom,Tom, Tom. Why must you spread disinformation. When you post charts of exports that are above the amount of consumption of a country you have to use “net” in your search. 
The US had over 3 mbpd in exports when it was a net importer. The US is now a net exporter and still imports millions of barrels every day, then turns around and reships that energy as a finished petroleum product or as crude. 
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WTTNTUS2&f=W

 

An oil site filled with no chart reading commenters is an embarrassment. Some facts are beyond opinion.

Edited February 15, 2020 by Boat

[Tom Kirkman + 8,860]

2 minutes ago, Boat said:

https://www.eia.gov/opendata/embed.php?type=chart&series_id=PET.MTTNTUS2.M&date_mode=all
 

Tom,Tom, Tom. Why must you spread disinformation. When you post charts of exports that are above the amount of consumption of a country you have to use “net” in your search. 
The US had over 3 mbpd in exports when it was a net importer. The US is now a net exporter and still imports millions of barrels every day, then turns around and reships that energy as a finished petroleum product or as crude. 
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WTTNTUS2&f=W

Um, pretty sure it is not disinformation.

Yes, the U.S. is a net exporter.  But the U.S. is NOT "Energy Independent".  There is a difference.

"Energy Independent" should mean ZERO energy imports.  Unless you are using some other metric.

[Boat + 1,323]

4 minutes ago, Tom Kirkman said:

Um, pretty sure it is not disinformation.

Yes, the U.S. is a net exporter.  But the U.S. is NOT "Energy Independent".  There is a difference.

"Energy Independent" should mean ZERO energy imports.  Unless you are using some other metric.

https://www.investopedia.com/terms/n/netexports.asp
 

Definition of net exports. Had nothing to do with ZERO imports. It is the calculation of imports vrs exports. A country is one or the other. 
You cannot be energy independent if you don’t export more than you import. The US recently passed that milestone.

Edited February 15, 2020 by Boat

[Tom Kirkman + 8,860]

23 minutes ago, Tom Kirkman said:

Um, pretty sure it is not disinformation.

Yes, the U.S. is a net exporter.  But the U.S. is NOT "Energy Independent".  There is a difference.

"Energy Independent" should mean ZERO energy imports.  Unless you are using some other metric.

 

17 minutes ago, Boat said:

https://www.investopedia.com/terms/n/netexports.asp
 

Definition of net exports. Had nothing to do with ZERO imports. It is the calculation of imports vrs exports. A country is one or the other. 
You cannot be energy independent if you don’t export more than you import. The US recently passed that milestone.

Sigh.

I already stated that there is a DIFFERENCE between being a net energy exporter and being energy independent.

Independent means NOT BEING DEPENDENT UPON IMPORTS.

When the U.S. no longer needs to import energy to fulfull its energy needs, then - and only then - can the be considered energy independent.

Net energy exporter does not equal energy independence.

●  Yes, the U.S. is a net energy exporter, because it exports more energy than it imports.

●  No, the U.S. is not energy independent, because it still imports energy.

I fail to understand why these 2 totally separate points are confusing in any way.

[Old-Ruffneck + 1,242]

2 hours ago, Tom Kirkman said:

 

Sigh.

I already stated that there is a DIFFERENCE between being a net energy exporter and being energy independent.

Independent means NOT BEING DEPENDENT UPON IMPORTS.

When the U.S. no longer needs to import energy to fulfull its energy needs, then - and only then - can the be considered energy independent.

Net energy exporter does not equal energy independence.

●  Yes, the U.S. is a net energy exporter, because it exports more energy than it imports.

●  No, the U.S. is not energy independent, because it still imports energy.

I fail to understand why these 2 totally separate points are confusing in any way.

Yes the US of A does export more than it imports, that is fact. But 3mbd of Permian Frac'd oil goes out to sea. Our refineries can't handle this type of oil. 

Yes we are still Importing heavy and sour crudes that we can refine and use. Regulations to build NEW refineries is still not viable. Adding on to existing is still best alternative to the EPA reg's. And yes we do refine more than we obviously use and ship back out in finished product. 

No heavy crude = USA is up the proverbial "creek".

[Tomasz + 1,608]

The US exports light sweet oil and at the same time imports heavy oil to mix them at refineries and produce some petroleum products.

I am not an expert but I have met with the opinions that it is not only the amount of produced oil that counts, but also its quality and the USA has a emerging problem because it has an excess of light oil and even lighter forms of which like condesates,  from which you cant economically produce diesel.

Therefore, US must export light crude oil that is not able to process in such quantities and import heavy crude oil primarily from Canada, until recently from Venezuela and Saudi Arabia, and from about a year more and more from Russia (October 2019 21 million barrels)

So the US is a net exporter fot the time being but it is not and probably will never be energy independent.

[Old-Ruffneck + 1,242]

1 hour ago, Tomasz said:

So the US is a net exporter fot the time being but it is not and probably will never be energy independent.

Never say never is my motto. I predict in the somewhat near future with our new trade agreements US refineries will be built in Mexico and by-pass regulations and return as finished product. Just a prediction....

[Dan Warnick + 6,100]

4 hours ago, Old-Ruffneck said:

Never say never is my motto. I predict in the somewhat near future with our new trade agreements US refineries will be built in Mexico and by-pass regulations and return as finished product. Just a prediction....

Sounds like a win win.

[Douglas Buckland + 6,308]

On 2/14/2020 at 6:41 AM, 0R0 said:

That is a matter of matching crude grades to refineries. It will change over time, I am thinking burned down refineries might be rebuilt for LTO. I think that is the rational part of the Mexican new refinery idea, as it could be optimized for LTO. 

Before we start building LTO specific refineries, we’d better make damn sure that there will be enough LTO to supply them until they have at least paid for themselves. At this point in the game, that is not a ‘given’.

[0R0 + 6,251]

21 hours ago, Tomasz said:

The US exports light sweet oil and at the same time imports heavy oil to mix them at refineries and produce some petroleum products.

I am not an expert but I have met with the opinions that it is not only the amount of produced oil that counts, but also its quality and the USA has a emerging problem because it has an excess of light oil and even lighter forms of which like condesates,  from which you cant economically produce diesel.

Therefore, US must export light crude oil that is not able to process in such quantities and import heavy crude oil primarily from Canada, until recently from Venezuela and Saudi Arabia, and from about a year more and more from Russia (October 2019 21 million barrels)

So the US is a net exporter fot the time being but it is not and probably will never be energy independent.

In my context, diesel is going to die first. It will be first to be displaced by NG, CNG on land, LNG on the sea. So Heavy crudes will lose value relative to light crudes and LTO. We will still need heavy crudes to source phenolic ring compounds for petrochemicals. So that will switch things around. 

[Boat + 1,323]

Do any of you have statistics on the amounts of LTO being exported with its history. To say US refineries can’t use the oil is one thing. Saying that in barrels per day would be informative.