biden banned russian oil import.

[flatlanderhuffandpuff]

In all honesty, me and some others have been considering a trip west this fall. If prices are $5+ we will certainly not be going. That is if we aren't all on the hunt somewhere in Europe.

 

[RyanT26]

Is it 3% or 7% I have seen it both ways?
Either way a 3 to 7% decrease in usable oil is not what the American people need to see. I’m sure China or India will gladly take what we were once using. The United States will need to go to Venezuela, Iran,or the Saudi‘s and negotiate for 3-7% more from them all from a place of weakness.

 

[Slugz]

We should be drilling our own, but then again that would be good for America so I doubt that will be pushed by our current administration.

We are and have had record increases the past 3 years. I imagine we will ramp up as much as possible here CONUS.

 

[PredatorSlayer]

Won’t be American. That’s for sure


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Not that hard to get the Keystone pipeline rolling. Its not US, but Canadian is a win for us at this point.

 

[AK Troutbum]

Yup. We thought gas prices were high now, they're fixing to double. $3.57 on my way for regular this morning.

Damn, that is cheap by todays standards! I would load up if I were you.

 

[PredatorSlayer]

Refreshing that someone on here gets it instead of just blaming Biden.

But biden’s policies haven’t helped.

 

[robby denning]

Refreshing that someone on here gets it instead of just blaming Biden.

Just hold tight


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[Btaylor]

Just hold tight


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Right, dont blame the puppet, blame the puppeteer.

 

[Sherman]

Guess we will have to get that 3.3% of our oil from another place.

That’s the CNN answer when in the real world 3.3% of annual usage here in the states is a lot of oil that now must be purchased on an already strained global market. Add in Japan and Europe now in talks of reducing Russian oil purchases, adding more strain to a finite global market. The answer is domestic production.

Seems as if we recently had a Commander in Chief who warned of oil dependency over domestic production.

 

[GSPHUNTER]

It matters not which network is reporting, I only believe 5% of what they say, and I don't believe 95% of that.

 

[roadrunner]

Bear in mind, the price per bbl is the cost to replace that bbl when it's used, not necessarily the shelf price. This replacement price is reflected on supply chain disruption and the increased cost of materials, labor, etc.

The increased price is also reflective of the ability to replace that bbl of oil depending on the pulse of the world stage, in this case, a major conflict in Eastern Europe. A supply/demand relationship.

Just wait and see what may happen to the global food production arena that may take a hit due to a disruption in fertilizer. Not this year or next year, but possibly in 2024 and 2025. Russia and Belarus are #2 and #4 in producing potash used in fertilizer...

 

[Poser]

Is it 3% or 7% I have seen it both ways?
Either way a 3 to 7% decrease in usable oil is not what the American people need to see. I’m sure China or India will gladly take what we were once using. The United States will need to go to Venezuela, Iran,or the Saudi‘s and negotiate for 3-7% more from them all from a place of weakness.

I haven’t seen anything that suggests we get more than about 2% on average of our oil from Russia. There may have been a month or a quarter in there there somewhere when once got 7%, but I don’t think that metric is accurate on an ongoing basis.

 

[wapitibob]

Russia's making more than 1B/day off oil and nat gas sales to europe. This is about as effective as dumping vodka down the drain after you paid for it.

 

[RyanT26]

Russia's making more than 1B/day off oil and nat gas sales to europe. This is about as effective as dumping vodka down the drain after you paid for it.

But it makes people feel like they’re helping and
Really sticking it to Putin, you know showing him who’s boss. and that’s all that really matters.

 

[Rick M.]

Refreshing that someone on here gets it instead of just blaming Biden.

Unfortunately, I think blaming the current sitting president for everything is the default "non-thinkers" way of explaining anything problematic in our country. I remember the same stuff happening back when Bush was in office. I'm jaded on it. I'm pretty sure many folks these days would find a way to hold Biden responsible if they burnt their morning toast. It's just an easy out. I think we can be better.

It matters not which network is reporting, I only believe 5% of what they say, and I don't believe 95% of that.

Thankfully, people don't need to rely on the media for this data. The U.S. Department of Energy makes it publicly available.

Won’t be American. That’s for sure


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Actually, much of it will be.

On March 1, the U.S. Department of Energy committed to releasing 30 million barrels of crude oil from the U.S. Strategic Petroleum Reserve (SPR) to ensure an adequate supply of petroleum in response to Russia’s further invasion of Ukraine. This SPR release is part of a coordinated effort among the 31 members of the International Energy Agency (IEA). Other IEA member countries collectively agreed to release an additional 30 million barrels of petroleum from their emergency reserves, bringing the total release to 60 million barrels.

The SPR was established in the 1970s to alleviate the effects of unexpected oil supply reductions. The reserve was designed to hold up to 714 million barrels of crude oil across four storage sites along the Gulf of Mexico, where much of the U.S. petroleum refining capacity is located. One of the SPR’s core missions is to hold enough oil stocks to fulfill U.S. obligations under the International Energy Program, the 1974 treaty that established the IEA.

We survey SPR inventory levels on a weekly basis in our Weekly Petroleum Status Report. On February 25, 2022, the SPR held 580 million barrels of crude oil. SPR crude oil stocks have been declining in recent years, largely because of legislated drawdowns authorized in bills passed in previous years.

SPR releases of crude oil can occur under four conditions: emergency drawdowns, test sales, exchange agreements, and nonemergency sales. This release commitment is the first emergency drawdown since 2011, when IEA members collectively released 60 million barrels in response to disruptions in Libya.

Test sales are relatively rare: the most recent test sale occurred in 2014. The SPR has released crude oil under exchange agreements 13 times since 1996, most recently after Hurricane Ida in September 2021. In these exchange agreements, crude oil is released to private companies and repaid in kind with additional barrels by specified dates, similar to monetary interest on a loan.

Congress has also authorized nonemergency sales of SPR crude oil to respond to lesser supply disruptions or to raise revenue for the U.S. Treasury. For example, the Fixing America’s Surface Transportation Act, passed in 2015, and the Bipartisan Budget Act of 2018 collectively call for the sale of more than 160 million barrels of crude oil from the SPR in fiscal years 2022 through 2027.

Maybe carpooling to western hunts could become a thing. But then again I'm not sure how much some states (looking at you, Idaho) would appreciate a couple dozen busses with Texas plates rolling into their OTC elk units .

 

[Poser]

Unfortunately, I think blaming the current sitting president for everything is the default "non-thinkers" way of explaining anything problematic in our country. I remember the same stuff happening back when Bush was in office. I'm jaded on it. I'm pretty sure many folks these days would find a way to hold Biden responsible if they burnt their morning toast. It's just an easy out. I think we can be better.


Thankfully, people don't need to rely on the media for this data. The U.S. Department of Energy makes it publicly available.


Actually, much of it will be.


Maybe carpooling to western hunts could become a thing. But then again I'm not sure how much some states (looking at you, Idaho) would appreciate a couple dozen busses with Texas plates rolling into their OTC elk units .

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[sneaky]

Unfortunately, I think blaming the current sitting president for everything is the default "non-thinkers" way of explaining anything problematic in our country. I remember the same stuff happening back when Bush was in office. I'm jaded on it. I'm pretty sure many folks these days would find a way to hold Biden responsible if they burnt their morning toast. It's just an easy out. I think we can be better.


Thankfully, people don't need to rely on the media for this data. The U.S. Department of Energy makes it publicly available.


Actually, much of it will be.


Maybe carpooling to western hunts could become a thing. But then again I'm not sure how much some states (looking at you, Idaho) would appreciate a couple dozen busses with Texas plates rolling into their OTC elk units .

30 million barrels is a day and a half worth of use. Just curious why you think the current administration hasn't had a role in the current situation? You can't dictate terms from a position of weakness, and we can't magically flip a switch and go all renewable overnight either. Even then all of the batteries will be coming from overseas nations that despise us.

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[Customweld]

Unfortunately, I think blaming the current sitting president for everything is the default "non-thinkers" way of explaining anything problematic in our country. I remember the same stuff happening back when Bush was in office. I'm jaded on it. I'm pretty sure many folks these days would find a way to hold Biden responsible if they burnt their morning toast. It's just an easy out. I think we can be better.


Thankfully, people don't need to rely on the media for this data. The U.S. Department of Energy makes it publicly available.


Actually, much of it will be.


Maybe carpooling to western hunts could become a thing. But then again I'm not sure how much some states (looking at you, Idaho) would appreciate a couple dozen busses with Texas plates rolling into their OTC elk units .

Sorry, Idaho is sold out! Plus diesel is like $10 a gallon. Nobody wants to come here.

 

[260madman]

$124/ barrel right now. We’ll just enrich some other 3rd world dictator nation who wants to harm us. Don’t worry though, your public land will be there, if you can afford the fuel.

Good luck to the non residents.

 

[EastMT]

Gas is going to be $11 in Montana by hunting season. Heard they were subsidizing gas in Idaho for hunters, you may want to check that place out