Better Fill up today

[frawin]

Sept 08 Crude oil closed at $122.19, down $2.54, Sept 08 Natural Gas closed at $9.13, down $0.065 on the day.
Another note on the subject regarding the US having exported products, Citgo Refining is wholly owned by the Venzuelan Government, Citgo refines 750,000 BOPD and the Product Yield could very well all be shipped back to Venzuela.
Frank

[DanCookson]

Thanks for the thread info Frank.  Everyone......We are a consumer of goods now, not a producer.  The only thing we make a lot of now is CO2 and politicians.  Neither one is worth a squirt of goat piss.  Lucky to even get a hold of a farm fresh tomato anymore.  The  mere taste of the damn thing will probably give you a heart palpitation.

The fact that anyone that is smart enough to get through the login on this forum and thinks that we actually EXPORT OIL is one that I personally cannot believe.....(No Offense...Politicians can be confusing)

pepelect is going to have to fill me in on some new quiz bowl economics because when I got my degree it worked like this.....


More Supply than Demand=EXPORT
More Demand than Supply=IMPORT

Last I looked, we are the worlds largest consumer of the Texas T.

[sixdogsmom]

Excuse me? Reuters is not a political entity, and that is the source for this article. We did indeed EXPORT 1.6 MILLION barrels a day of petroleum products for the first four months of this year. Why are we continuing to support this industry; Exonn Mobile made a profit of 40.6 BILLION dollars last year, and the industry is awarded 14 BILLION dollars in tax breaks and incentives every year? What could Elk County do with even a small portion of that corporate welfare check?

[DanCookson]

I really don't want to split hairs, but pepelect's quiz bowl team is haunting the back of my brain. 

If you export 1.6 million barrels of oil a day and import 15 million barrels of oil a day did you really export anything??? 


I am certain we use more product than we produce.  If not we wouldn't have the MASSIVE TRADE DEFICIT. 

I don't know what Elk County would do with that corporate welfare check.

I suppose we would have more welfare

[srkruzich]

Thanks for the thread info Frank.  Everyone......We are a consumer of goods now, not a producer.  The only thing we make a lot of now is CO2 and politicians.  Neither one is worth a squirt of goat piss.  Lucky to even get a hold of a farm fresh tomato anymore.  The  mere taste of the damn thing will probably give you a heart palpitation.

Uhmm Dan, i got two large bowls of farm fresh heirloom tomatos here   mMMmmmmmmmmmm

[DanCookson]

SOLD....

That is an Import I can negotiate with!!!!!!!!!!!

[srkruzich]

SOLD....

That is an Import I can negotiate with!!!!!!!!!!!

LOL!  Next year i am going to start up a tomato crop. I found out they grow pretty good here
I gotta go up to howard thursday, i'll bring some by for ya

[sixdogsmom]

UUUUHHHHH---- there is a difference between crude oil and petroleum products such as gasoline and deisel fuel etc etc. There lies your confusion??

If you export 1.6 million barrels of oil a day and import 15 million barrels of oil a day did you really export anything??? 

[frawin]

Excuse me? Reuters is not a political entity, and that is the source for this article. We did indeed EXPORT 1.6 MILLION barrels a day of petroleum products for the first four months of this year. Why are we continuing to support this industry; Exonn Mobile made a profit of 40.6 BILLION dollars last year, and the industry is awarded 14 BILLION dollars in tax breaks and incentives every year? What could Elk County do with even a small portion of that corporate welfare check?

We imported approximately 3.6 million barrels a day of  petroleum products and we exported approximately 1,6 million barrels of product, we are not a net exporter of petroleum products. I don't see what the point is anyway. We have been the worlds largest user of crude oil since the beginning of the automoble and we have depended on the world for our supply.  WE ARE NOT A NET EXPORTER OF PETROLEUM PRODUCTS AND WE NEVER HAVE BEEN. REUTERS IS A REPORTING AGENCY AND THEY ONLY REPORT THEY DON"T SUPPORT, AUTHENICATE OR INVESTIGATE THE REPORTS.

We are currently exporting or trading approximately 1.4 million barrels of product a day and importing approximately 3.4 million barrels of product a day, that is just normal business and I fail to see anything negative about it.

[frawin]

Sept -08 Crude is trading at $121 675 down $0.515, Sept-08 Natural Gas is trading at $9.10 down $0.03.