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Sat Aug 30, 2014, 12:18 PM

Where our oil comes from -

A bit of a surprise to me - mostly Canada. So it's just Bullshit about oil prices rising because of this and that going on in the Middle East?

Where we THINK our oil comes from:

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Where it actually comes from:

[URL=.html][IMG][/IMG][/URL]

http://www.randalolson.com/2014/08/28/where-the-u-s-gets-its-oil-from/

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Reply Where our oil comes from - (Original post)
packman Aug 2014 OP
Erich Bloodaxe BSN Aug 2014 #1
Make7 Aug 2014 #2
MH1 Aug 2014 #3
Spider Jerusalem Aug 2014 #4
NuclearDem Aug 2014 #5

Response to packman (Original post)

Sat Aug 30, 2014, 12:26 PM

1. oil is a fungible commodity.

If we don't buy it, someone else does, so if some other country gets shorted on what they normally buy, they look elsewhere to get what they need, even if it means paying more.

So trouble anywhere lets the greedheads drive up the price for all of us, because they can say 'Hey, if we don't, you'll be shorted and we'll just sell it to them folks over thar for the inflated prices'.

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Response to packman (Original post)

Sat Aug 30, 2014, 01:05 PM

2. How is that second pie chart relevant to which countries people think we import oil from?

Wouldn't this graphic actually convey the reality vs the perception portrayed by that first pie chart?

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Response to Make7 (Reply #2)

Sat Aug 30, 2014, 01:09 PM

3. Yeah, the OP is enough to make a data geek grind their teeth, isn't it?

It asks about "where do most of our imports come from" and then proceeds to compare total imports to non-import production. (An important factoid, but not what the question asked!)



But thanks for adding your chart, which does answer the question asked.

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Response to packman (Original post)

Sat Aug 30, 2014, 01:11 PM

4. Nope, geopolitical events in the Middle East affect the world market price of oil.

Whether the oil comes from Canada or Venezuela or Mexico. Because if less oil is available from Iran or Libya or wherever, the consumers of that oil turn elsewhere on the global market to make up the shortfall. Which drives up prices across the board.

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Response to packman (Original post)

Sat Aug 30, 2014, 03:18 PM

5. No, it's not bullshit.

 

Regardless of where the US gets its oil, events in the Middle East that could impact the flow of oil (like threats to close Hormuz or Suez) affect the price of oil on the world market.

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