...Why do we get any amount of oil from Russia? Why are we supporting them even the tiniest bit?
We obviously have other options. This isn’t a thread to debate which option is better, just a thread about why were are still buying from Russia.
source
In 2021, the US imported an average of 209,000 barrels per day (bpd) of crude oil and 500,000 bpd of other petroleum products from Russia
The US imports Russian oil, but it is not highly dependent on the country for its supplies.
If we aren’t highly dependent, why get it from them at all?
The article talks about a “domino” effect- if the US stops using Russian oil other countries will follow suit, but otherwise the affect on us regarding oil wouldn’t be a big deal- we doing need Russian oil.
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Because Biden did away with Trump’s energy independence policies. It was a purely political move. And while we are not “highly dependent” on the Russian oil, it would impact us at the gas pump to stop getting it if there is nothing to fill that void.
Economics. We buy oil from the cheapest source because customers want it that way.
Are you willing to pay more at the pump?
We go to Walmart and buy Chinese made appliances because they are cheaper than US made.
Here is a chart of US oil import by country the last 11 years . Russia has been a small amount of our consumption for years and years. We are importing totally less than we were 11 years ago.
With all the oil companies pulling out there won’t be any oil to import.
Good, let’s go back to $1 a gallon oil with our own pipeline!!!!
@Tropical_Willie did you actually look at or read the article you cited? It actually points out that Russia is one of our LARGEST suppliers…and it is going up.
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It is commutative graph each group is additive,
Canada is 4 million barrels
Mexico is about a million barrels
Saudi Arabia about a million !
Russia less than a million .. ........
Russia is clearly at over 6 millions at some points LOL
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The graph states it is “Average monthly barrels per day of crude oil and petroleum products; January 2011 to December 2021” If Russia were so low, why wouldn’t they be on the bottom of the graph? The axis on the left states number of gallons of crude produced by each supplier.
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I thought they were commutative graphs!
One group adds on to the one below !
Ummm…Here is a good site for explaining cumulative graphs.
Jeez you guys. Forget graphs. From Queenie’s article it says “This (Russian oil) represented three percent of US crude oil imports and one percent of the total crude oil processed by US refineries. By contrast, the US imported 61 percent of its crude oil from Canada, 10 percent from Mexico, and six percent from Saudi Arabia in the same year.”
The top five sources of U.S. total petroleum (including crude oil) imports by share of total petroleum imports in 2020 were
Canada
52%
Mexico
11%
Russia
7%
Saudi Arabia
7%
Colombia
4%
The top five sources of U.S. crude oil imports by share of total crude oil imports in 2020 were
Canada
61%
Mexico
11%
Saudi Arabia
8%
Colombia
4%
Iraq
3%
Did yo see that Shell Oil just bought 100,000 metric tons at $28.50 per barrel below the going rate? Certainly a good business decision. Except the price of the stock will go down as a backlash.
Source
Note: there are about 7.5 barrels in a metric ton, so figure they bought 750,000 barrels of oil saving $21.4 million in the blink of an eye.
As a retired General explained to anyone listening…It’s considered a sound military decision…deplete the stock of your enemy so when the shit ultimately hits the fan, your supply is still intact & theirs has been reduced. That could possibly be important in winning the war!!!
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