quote:

ORIGINAL: MrRodgers
Rank these states on total crude oil production. Now for those semantically discerning, we define oil production as getting it out of the ground and presumably on its way to refining...hopefully.
Iraq
Kuwait
Iran
Saudi Arabia
Venezuela
Mexico
Canada
Texas
I will make it easier...stick to the top 3, the rest don't really matter.
Oh and a tiebreaker. What has happened the US total oil production during Obama's 5 years in office ?

quote:

ORIGINAL: RottenJohnny

Just curious...is there a point to your quiz?

quote:

ORIGINAL: Phydeaux

Perhaps you should run your quiz by the department of Energy
who are predicting that we will be self sufficient in oil by no later than 2025?

quote:

ORIGINAL: MrRodgers

quote:

ORIGINAL: Phydeaux

Perhaps you should run your quiz by the department of Energy
who are predicting that we will be self sufficient in oil by no later than 2025?

That may be possible but would the industry let us know about that ? We are already self-sufficient in gas, so one would think gas would be very cheap like say in Kuwait where I've read it is .89 cents per gal. All of their oil still needs to be refined into gas.

So what happened ? The US has become the world's largest exporter of gas. That reduces domestic supply and keeps the price around $3.50 to $4/gal. (US gas is the highest cost gas in the world) Add in that it is the speculators that determine the price, NOT supply and demand. (as they do all commodities) S & D are only a component of and itself only a factor in the speculation.

Just like how the Alaskan oil pipeline was to lead to or at least help in making the US oil independent. Instead most of it being sold to Japan.

In the US the cost of oil per gal. of gas is .65 cents. You be the judge.

quote:

ORIGINAL: Phydeaux

quote:

ORIGINAL: MrRodgers

quote:

ORIGINAL: Phydeaux

Perhaps you should run your quiz by the department of Energy
who are predicting that we will be self sufficient in oil by no later than 2025?

That may be possible but would the industry let us know about that ? We are already self-sufficient in gas, so one would think gas would be very cheap like say in Kuwait where I've read it is .89 cents per gal. All of their oil still needs to be refined into gas.

So what happened ? The US has become the world's largest exporter of gas. That reduces domestic supply and keeps the price around $3.50 to $4/gal. (US gas is the highest cost gas in the world) Add in that it is the speculators that determine the price, NOT supply and demand. (as they do all commodities) S & D are only a component of and itself only a factor in the speculation.

Just like how the Alaskan oil pipeline was to lead to or at least help in making the US oil independent. Instead most of it being sold to Japan.

In the US the cost of oil per gal. of gas is .65 cents. You be the judge.

So many conspiracy theories.

Mr. Rodgers- the US is not self sufficient in gas- by which I mean to say - we import oil, and then we refine it into gas. We are selfsufficient in natural gas -but that is unrelated.

Your price for $ of oil per gallon is way out of date - its based on 35$ / barrel. Current cost is $2.64 cents. (link here:http://energyalmanac.ca.gov/gasoline/margins/

And while it is true that gas is very cheap in kuwait, saudi arabia, iran, venezuela -that is because the governments have decided to subsidize it. In other words, in vene. the cost is aroun $.19 per gallon iirc. Well below the cost to produce it. And so the govt. pays the oil refineries directly to keep the costs low.

Here, the govt taxes gasoline driving prices higher. Taxes here in the US are around $.70 cents a gallon.

And you still haven't gotten transport fees, refinery fees, and profit for the oil company yet.

As I posted early - the profit the US govt extracts from the oil companies vastly exceeds the profit the oil companies make.

Hope that helps.

quote:

ORIGINAL: MrRodgers

quote:

ORIGINAL: Phydeaux

Perhaps you should run your quiz by the department of Energy
who are predicting that we will be self sufficient in oil by no later than 2025?

That may be possible but would the industry let us know about that ? We are already self-sufficient in gas, so one would think gas would be very cheap like say in Kuwait where I've read it is .89 cents per gal. All of their oil still needs to be refined into gas.

So what happened ? The US has become the world's largest exporter of gas. That reduces domestic supply and keeps the price around $3.50 to $4/gal. (US gas is the highest cost gas in the world) Add in that it is the speculators that determine the price, NOT supply and demand. (as they do all commodities) S & D are only a component of and itself only a factor in the speculation.

Just like how the Alaskan oil pipeline was to lead to or at least help in making the US oil independent. Instead most of it being sold to Japan.

In the US the cost of oil per gal. of gas is .65 cents. You be the judge.

The average U.S. resident actually pays anywhere between $2 and $0.90 less than the actual market value of gasoline because of government subsidies. In Turkey, where the government finds the fuel tax relatively easy to enforce compared to other taxes, gasoline costs $9.98 at the pump. About 40 percent of the country’s workforce have under-the-table jobs and do not pay taxes, which is why the fuel tax is an important source of revenue that Turkey cannot easily afford to alter. Norway is a major oil producing country, but the average Norwegian has to shell out $9.97 for a gallon of gas, more than twice the U.S. average. Norway doesn’t subsidize fuel at the pump; instead, it uses oil profits to fund free college education and infrastructure development.   Most Europeans pay a much higher price for gasoline than Americans do, anywhere between $6 and $10 more per gallon. In oil producing countries in the Middle East like Kuwait and Saudi Arabia, gas is dirt cheap. Saudi Arabians pay only $0.45 a gallon at the pump, while those in Kuwait pay just $0.80. But nowhere in the world is gas quite as cheap as it is in Venezuela. At $0.04 a gallon, it’s practically free. In Venezuela, it costs about $1.56 to fill up the 39-gallon tank of a Chevrolet Suburban, according to calculations from Bloomberg, compared to $137.28 in the U.S. and $389.22 in Turkey.

quote:

ORIGINAL: Phydeaux

quote:

ORIGINAL: MrRodgers

quote:

ORIGINAL: Phydeaux

Perhaps you should run your quiz by the department of Energy
who are predicting that we will be self sufficient in oil by no later than 2025?

That may be possible but would the industry let us know about that ? We are already self-sufficient in gas, so one would think gas would be very cheap like say in Kuwait where I've read it is .89 cents per gal. All of their oil still needs to be refined into gas.

So what happened ? The US has become the world's largest exporter of gas. That reduces domestic supply and keeps the price around $3.50 to $4/gal. (US gas is the highest cost gas in the world) Add in that it is the speculators that determine the price, NOT supply and demand. (as they do all commodities) S & D are only a component of and itself only a factor in the speculation.

Just like how the Alaskan oil pipeline was to lead to or at least help in making the US oil independent. Instead most of it being sold to Japan.

In the US the cost of oil per gal. of gas is .65 cents. You be the judge.

So many conspiracy theories.

Mr. Rodgers- the US is not self sufficient in gas- by which I mean to say - we import oil, and then we refine it into gas. We are selfsufficient in natural gas -but that is unrelated.

Your price for $ of oil per gallon is way out of date - its based on 35$ / barrel. Current cost is $2.64 cents. (link here:http://energyalmanac.ca.gov/gasoline/margins/

And while it is true that gas is very cheap in kuwait, saudi arabia, iran, venezuela -that is because the governments have decided to subsidize it. In other words, in vene. the cost is aroun $.19 per gallon iirc. Well below the cost to produce it. And so the govt. pays the oil refineries directly to keep the costs low.

Here, the govt taxes gasoline driving prices higher. Taxes here in the US are around $.70 cents a gallon.

And you still haven't gotten transport fees, refinery fees, and profit for the oil company yet.

As I posted early - the profit the US govt extracts from the oil companies vastly exceeds the profit the oil companies make.

Hope that helps.

quote:

ORIGINAL: MrRodgers
Getting late so it is time. On C-Span the API executive said that the top 3 in oil production in the world today is:
Kuwait
Valenzuela
Texas
Since Obama has been in office, US oil production...has doubled. From the gulf where BP we had the big 'spill'...highest in history.
I know that conflicts with DS's post but DOE could be wrong and they are estimates.

quote:

ORIGINAL: MrRodgers

quote:

ORIGINAL: Phydeaux

quote:

ORIGINAL: MrRodgers

quote:

ORIGINAL: Phydeaux

Perhaps you should run your quiz by the department of Energy
who are predicting that we will be self sufficient in oil by no later than 2025?

That may be possible but would the industry let us know about that ? We are already self-sufficient in gas, so one would think gas would be very cheap like say in Kuwait where I've read it is .89 cents per gal. All of their oil still needs to be refined into gas.

So what happened ? The US has become the world's largest exporter of gas. That reduces domestic supply and keeps the price around $3.50 to $4/gal. (US gas is the highest cost gas in the world) Add in that it is the speculators that determine the price, NOT supply and demand. (as they do all commodities) S & D are only a component of and itself only a factor in the speculation.

Just like how the Alaskan oil pipeline was to lead to or at least help in making the US oil independent. Instead most of it being sold to Japan.

In the US the cost of oil per gal. of gas is .65 cents. You be the judge.

So many conspiracy theories.

Mr. Rodgers- the US is not self sufficient in gas- by which I mean to say - we import oil, and then we refine it into gas. We are selfsufficient in natural gas -but that is unrelated.

Your price for $ of oil per gallon is way out of date - its based on 35$ / barrel. Current cost is $2.64 cents. (link here:http://energyalmanac.ca.gov/gasoline/margins/

And while it is true that gas is very cheap in kuwait, saudi arabia, iran, venezuela -that is because the governments have decided to subsidize it. In other words, in vene. the cost is aroun $.19 per gallon iirc. Well below the cost to produce it. And so the govt. pays the oil refineries directly to keep the costs low.

Here, the govt taxes gasoline driving prices higher. Taxes here in the US are around $.70 cents a gallon.

And you still haven't gotten transport fees, refinery fees, and profit for the oil company yet.

As I posted early - the profit the US govt extracts from the oil companies vastly exceeds the profit the oil companies make.

Hope that helps.

I am talking about costs, not prices...two different things. We are not really self-sufficient in gas as that is not in the ground but we produce much more than we consume and could produce all of the gas we need from our oil in the ground particularly if oil cos. would use more than 1/3 of a bbl. of oil for gas if the industry chose to...they do not and for a higher profit producing other distillates and exports...regulating supply.

Furthermore, one point of the post is that we have the resources and oil production capabilities in the US that should be put to use and like those other countries, should be reflected in a reduced price for gas and it has not because of our exports and oil industry choices.

Also, this has nothing to do with oil prices in highly taxed countries. The US also subsidizes oil products via the tax code that appears in profits, obviously not in lower retail price for the products. Evidence is that US gasoline consumption per mile driven has been falling precipitously while the price has been rising and has gone up over a dollar a gal. since 2009.

quote:

ORIGINAL: MrRodgers

Rank these states on total crude oil production. Now for those semantically discerning, we define oil production as getting it out of the ground and presumably on its way to refining...hopefully.

Iraq A lot
Kuwait A lot again
Iran More than Connecticut has
Saudi Arabia Less than Brazil
Venezuela More than the Dunkin Donuts on 27th and Vine
Mexico More than they have the cash to pump out
Canada A shitload
Texas Doesn't matter, anything they tell you will always be 7 times whatever it really is

I will make it easier...stick to the top 3, the rest don't really matter.

Oh and a tiebreaker. What has happened the US total oil production during Obama's 5 years in office ? Nope....you told me to stop at the top 3.....try again!