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Tag Archives: oil imports
What’s Wrong With The U.S. Oil Export Boom
What’s Wrong With The U.S. Oil Export Boom The lead editorial in Friday’s Wall Street Journal was pure energy nonsense.’ “Lessons of the Energy Export Boom” proclaimed that the United States is becoming the oil and gas superpower of the world. This despite the uncomfortable fact that it is also the world’s biggest importer of […]
Why China Is Really Dictating the Oil Supply Glut
Why China Is Really Dictating the Oil Supply Glut Ship tracking data from Bloomberg shows that 83 supertankers carrying around 166 million barrels of oil are headed to China, which has stockpiled an impressive 787,000 barrels a day in the first quarter of 2016—the highest stockpiling rate since 2014. While the world was speculating about oil prices […]
China Stockpiling Oil At Highest Rate In Over A Decade
China Stockpiling Oil At Highest Rate In Over A Decade China might be in the midst of another round of stockpiling, stepping up crude oil imports to fill its strategic petroleum reserve (SPR). The slowdown in oil demand in China is one of the chief concerns regarding the state of oversupply in global oil markets. […]
U.S. Has Too Much Oil. So Why Are Imports Rising?
U.S. Has Too Much Oil. So Why Are Imports Rising? Despite domestic production declining and demand surging, the EIA reported oil inventories surge by more than 10 million barrels, or more than three times what was expected. The 10.4 million barrel increase was mostly due to a near record increase in imports of 490,000 b/d […]
Can lower oil prices cause a recession?
Can lower oil prices cause a recession? Donald Luskin writes in the Wall Street Journal: The global economy is slipping into recession. The evidence is showing up in all the usual ways: slowing output growth, slumping purchasing-manager indexes, widening credit spreads, declining corporate earnings, falling inflation expectations, receding capital investment and rising inventories. But this is […]
The myth of US self-sufficiency in crude oil
The myth of US self-sufficiency in crude oil Google for “US energy independence” and you will get 134k results, “US self sufficiency” yields 10k results. Here are some examples of what the media reports: In Aljazeera’s Inside Story, 10/1/2016, titled “How much support will Saudi Arabia win against Iran?” the delicate relationship between the US, […]
Why The U.S. Can’t Be Called A ‘Swing Producer’
Why The U.S. Can’t Be Called A ‘Swing Producer’ Daniel Yergin and other experts say that U.S. tight oil is the swing oil producer of the world. They are wrong. It is preposterous to say that the world’s largest oil importer is also its swing producer. There are two types of oil producers in the world: those who […]
Oil Price Crash: Top 5 At-Risk Countries
Oil Price Crash: Top 5 At-Risk Countries Since June 2014, global oil prices have dropped by more than 50%. The drop could strongly affect the economic and political stability of these five oil exporting countries. Oil prices make winners and losers. In general, oil importers will gain from low prices, while most oil exporters will […]
Dumb and Dumber: U.S. Crude Oil Export
Dumb and Dumber: U.S. Crude Oil Export Exporting crude oil and natural gas from the United States are among the dumbest energy ideas of all time. Exporting gas is dumb. Exporting oil is dumber. The U.S. imports almost half of the crude oil that we use. We import 7.5 million barrels per day. The chart below shows […]
US crude imports from Non-OPEC countries peaked 10 years before tight oil boom
US crude imports from Non-OPEC countries peaked 10 years before tight oil boom. In part 3 of this series on the impact of US tight oil, we look at US crude oil imports from Non-OPEC countries. Excluding Canada – which is a special case due to its integration into the North American oil market – […]
