Biden imported 800,000 of Putin's Oil per day, while North Dakota oil plummeted despite 200 billion $ worth in reserve

[sholomar]

I'm convinced they want higher prices with stagnant wages to get americans groomed to the idea of living with less... the 5 bedroom 4 bathroom house with 3 stall garage with 5 cars parked at the residence... just 40 years ago that standard of living for the "middle class" on the planet would have been unfathomable. Few countries have a populace with such lavish accommodations.

I'm not saying I agree with them, but I don't see the housing shortage easing for this entire decade, and the chip shortage won't ease until proof of work crypto mining is banned and we stop using computer chips to mine bits of currency. When land started to become scarce and shoot up in price in the 2000's and 2010's did the "land bubble" ever burst? It's worse than ever.

[hooligan]

Originally Posted by Myghost

True, but what does that have to do with Biden. We are (mostly) a free market. Do you want to socialize our oil production so the President can control how businesses run?

When I see people who blame our oil import/export balance on the President (of either party), I assume they've either been influenced by biased media from one side or the other, OR they are advocating for socialism, OR they simply don't understand how oil markets work.

Since you made the comment, can you please explain what Biden SHOULD have done to force downstream oil companies (which are owned by their shareholders in most cases) to buy only domestic oil?

Precisely. Oil companies exist to maximize return to their shareholders (assuming they're publicly traded). They will pump just enough oil to maximize those returns - they are not motivated to save us all money at the pump. That's contrary to their goal, in fact.

[Chi-town]

Time to lay to rest this all the oil/gas we get from Russia. Key was always divers sources to not owe too much to any one source fully cut.

Today Russia is the second-largest crude oil producer in the world, behind the U.S. and ahead of Saudi Arabia, but sometimes that order shifts.

About half of Russia’s exported oil – roughly 2.5 million barrels per day – is shipped to European countries, including Germany, Italy, the Netherlands, Poland, Finland, Lithuania, Greece, Romania and Bulgaria. Nearly one-third of it arrives in Europe via the Druzhba Pipeline through Belarus. These 700,000 barrels per day in pipeline shipments.

In 2019, European stopped accepting deliveries for several months from the Druzhba line when crude oil flowing through it became contaminated with organic chlorides that could have damaged oil refineries during processing. Russia’s oil shipments fell noticeably as it redirected flows to avoid the Druzhba line.

Title: Can wealthy nations stop buying Russian oil?
Published: March 1, 2022

https://theconversation.com/can-weal...ian-oil-178008

JUST DO NO USE SHOCK JOCKS AND TALKING HEADS AS MEANS TO HATE AND BLAME . GET FACTS NOT RHETORIC JUST TO BASH POLITICALLY ON ANYTHING.

Facts it seems, some hype it is 21%. Seems reality is less in scope.

The most recent data from the U.S. Energy Information Administration shows that the U.S. increased its oil imports from Russia by about 28% in the first 11 months of 2021.

The U.S. did double the amount of crude oil imported from Russia last year. But Russia accounts for only about 3% of overall U.S. crude oil imports in 2021. This is CRUDE NOT REFINED ALREADY.

See government sources for this fact-check and how it us ongoing decades and how it fluctuates by month.

https://www.eia.gov/dnav/pet/hist/Le..._NUS-NRS_2&f=M

Our major oil companies helped Russia too in oil extraction and more.

Title: How Exxon, BP and Shell help Russia pump oil and gas.

https://amp.cnn.com/cnn/2022/02/24/b...oil/index.html

*** About 8% of U.S. imports of oil (crude) and refined products, or about 672,000 barrels a day, came from Russia last year, said Andy Lipow, president of Lipow Oil Associates LLC in Houston, citing figures from the Energy Information Administration.